# Quantum Circuits

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/quantum-circuits

- Industry: Hardware
- Headquarters: New Haven, US
- Website: www.quantumcircuits.com
- Total disclosed funding: $71M
- Latest round: Series B (May 1, 2024)
- Investors on record: 13

## About

Founded in 2015 and based in Connecticut, US, Quantum Circuits, Inc. operates as a developer of quantum computers based on superconducting devices. Robert Schoelkopf co-founded the firm. As of 2024, the company is headed by its CEO Ray Smets. n January 2026, D-Wave Systems Inc., a portfolio company of Draper Fisher Jurvetson, BDC Capital, GrowthWorks Capital, Discovery Capital Management, 180 Degree Capital, International Investment & Underwriting, Yorkville Advisors, Pender Ventures, Goldman Sachs Asset Management, In-Q-Tel, Sustainable Development Technology Canada, and Aegis Group Partners, agreed to acquire Quantum Circuits, Inc. from ARCH Venture Partners, Canaan Partners, OUP (Osage University Partners), Connecticut Innovations, F-Prime Capital, In-Q-Tel, Tribeca Venture Partners, Fitz Gate Ventures, Prime Capital, Hither Creek Ventures, and Peak XV Partners. The acquisition totaled USD 550 million, with USD 300 million paid in common stock and USD 250 million in cash.

QCI’s core technology revolves around superconducting quantum circuits, which are central to its quantum computing systems. The company’s hardware is designed with embedded quantum error correction to help with reliability and scalability. QCI’s modular approach to building quantum computers allows for the scaling of computational power by connecting additional modules. Additionally, QCI provides a full-stack software service that enables complex algorithm execution and quantum computing capabilities via the cloud.

The company plans to use the August 2024 funding to promote its quantum systems, which feature an industry-first error detection feature for scalable, high-fidelity computing.

## Funding rounds

- Series B, May 1, 2024, $27M — Peak XV Partners
- Series B, Feb 9, 2024, $27M — ARCH Venture Partners, Canaan Partners, OUP (Osage University Partners), Connecticut Innovations, F-Prime Capital, In-Q-Tel, Tribeca Venture Partners, Tao Capital Partners, Fitz Gate Ventures, Prime Capital, Hither Creek Ventures, Peak XV Partners
- Series A, Nov 13, 2017, $18M — Hong Shan, Canaan Partners, OUP (Osage University Partners), Tribeca Venture Partners, Fitz Gate Ventures

## Investors

- Hong Shan — Series A
- Canaan Partners (https://capitalatlas.ai/funds/canaan-partners) — Series A, Series B
- OUP (Osage University Partners) (https://capitalatlas.ai/funds/oup-osage-university-partners) — Series A, Series B
- Tribeca Venture Partners (https://capitalatlas.ai/funds/tribeca-venture-partners) — Series A, Series B
- Fitz Gate Ventures (https://capitalatlas.ai/funds/fitz-gate-ventures) — Series A, Series B
- ARCH Venture Partners (https://capitalatlas.ai/funds/arch-venture-partners) — Series B
- Connecticut Innovations (https://capitalatlas.ai/funds/connecticut-innovations) — Series B
- F-Prime Capital (https://capitalatlas.ai/funds/f-prime-capital) — Series B
- In-Q-Tel (https://capitalatlas.ai/funds/in-q-tel) — Series B
- Tao Capital Partners (https://capitalatlas.ai/funds/tao-capital-partners) — Series B
- Prime Capital — Series B
- Hither Creek Ventures — Series B
- Peak XV Partners (https://capitalatlas.ai/funds/peak-xv-partners) — Series B