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Canada : D-WAVE secures finance for developing quantum computer

July 14, 2014

D-Wave Systems Inc. has received $30 million in funding.

The money will be used to develop the world s first commercially viable quantum computer. The company has increased a total of $160 million in venture capital to assist its advancement of a quantum computing that harnesses the power of subatomic particles to process complex calculations.

The company declared that the latest round of finance obtained from Fidelity Canada Fund, Goldman Sachs, Business Development Bank of Canada and Draper Fisher Jurvetson.

D-Wave CEO Vern Brownell commented For quantum computing to achieve its enormous potential in such diverse areas as genetically personalized medicine, mission planning, systems optimization and machine learning, we need to build a software ecosystem though partnerships with world experts.

D-Wave proposed to utilize part of the fiancÉ to twice its 25-person software development staff by the end of the year.

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Source: TendersInfo (India)

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