Funding & Deals
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Funding & Deals coverage, page 2
Etched's Lead Investor Is Also Its First Customer. Jane Street Wrote the Cheque and Took Delivery of One Rack
A $700 million round at a $21 billion valuation, announced August 18, values the inference chip startup at roughly double where it was marked 26 days earlier. The disclosed customer-contract figure has not moved in seven weeks.
The Air Force Put $7 Million Into Quantum Research on the Civilian Power Grid. Infleqtion Is a Subcontractor.
Eaton disclosed a $7 million, 24-month Air Force Research Laboratory contract to test whether quantum computers can do grid contingency analysis. Infleqtion, one of two named collaborators, has not published the size of its own piece.
New York Opened a $60 Million Quantum Hub Competition. The First Deadline Is Tuesday, and It Is Not the Proposal Deadline.
Empire State Development is putting up to $60 million behind as many as four regional quantum commercialization hubs, with applications due October 14. But the governor's release tells anyone interested to email Albany for an application by Tuesday, August 18. Applicants must hold 501(c)(3) status, and the trade press reading of the request for proposals says the grants pay for construction, equipment and furniture, not for the people who would run the hubs.
BTQ Ended Its Second Quarter With C$9,729,250 In Cash And No Cash-Flow Statement Behind It
BTQ Technologies (Nasdaq: BTQ; Cboe Canada: BTQ) established a C$150 million at-the-market equity program with Cantor Fitzgerald on June 18, in its own release and under its own prospectus supplement. Its August 14 corporate update discloses a single cash line, C$9,729,250, with no interim financial statements attached. Separately, the French Ministry for the Economy and Finance attached named conditions to the company's takeover of quantum-software firm QPerfect.
Pasqal's Nasdaq Vote Is Tuesday. Its $250 Million Convertible Buys $312.5 Million of Principal.
Bleichroeder Acquisition Corp. II shareholders meet Aug. 25 on a combination struck at a $2.0 billion pre-money equity value for the French neutral-atom quantum company. The filings show $250.0 million of subscriptions purchasing $312,500,000 of convertible bond principal — and a cash-to-balance-sheet line that is not all new money.
A pre-revenue London chip startup just raised $312 million at a $3.3 billion valuation to attack HBM
Olix Computing has tripled its valuation in six months on a photonic inference architecture that swaps high-bandwidth memory for on-chip SRAM — with no silicon shipped and no revenue yet.
DARPA Reopens the Door: Quantum Benchmarking Initiative Solicits New Entrants as 11 Companies Race Through Stage B
With proposals due September 30, the Pentagon's flagship quantum vetting program is expanding its 20-company field — a government stamp that has become one of the sector's most-watched investment signals.