SoftBank and Google have provided $230 million in support to Boston-based quantum venture QuEra. The company stated that it will use this funding to transition to the growth phase by building a fully functional quantum computer within the next three to five years.

Boston-based quantum computing company QuEra announced the completion of a new funding round with $230 million from SoftBank and Google.

It was revealed that the company plans to utilize this funding in the next three to five years to construct a fully functional quantum computer, providing a boost for the next stage of growth.

CEO of QuEra, Andy Ory, mentioned that the funding round was closed in just a few weeks.

This progress has attracted investor interest, leading to financial commitments for the company.

However, QuEra stated that $60 million of the total investment is still pending; this amount will be released once specific technical milestones are achieved.

Andy Ory did not share any details on when the next equity round will commence.

QuEra’s COO, Yuval Boger, emphasized that this move marks a significant leap compared to the previous round.

As a reminder, in the summer of 2024, they published quantum computing research in collaboration with Harvard, showcasing the highest 48 logical qubits tested so far.

QuEra and physicist Harry Zhou from Harvard highlighted the importance of the project by stating, “This is the first machine with quantum error correction capabilities.”