Singapore’s EDBI, Roblox CEO back Universal Quantum start-up in US$100 million Series A round
Universal Quantum is among several quantum firms going public lately.
A British quantum computing startup, Universal Quantum, has secured US$100 million in Series A funding, with investors including Singapore's Economic Development Board Investments (EDBI) and Roblox CEO David Baszucki. The funds will be used to establish research centers in Germany and Singapore. DCVC and Firgun Ventures jointly led the round, with participation from the Singapore government fund EDBI and Baszucki.
Universal Quantum CEO Sebastian Weidt stated that the investor base aims to be "as global and sovereign as possible." The company, which utilizes trapped-ion technology, expects to create a functional quantum computer within the next decade. Quantum computing has the potential to revolutionize fields such as medicine and finance, but current machines are primarily used for research purposes.
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