Quantum chip developer QuantWare has completed a $178 million Series B funding round, with Intel Capital participating.

CoinFeed reported on May 5th that QuantWare, a quantum chip development company, announced the completion of a $178 million Series B funding round, one of the largest funding rounds in the quantum processor field to date. This round was led by Intel Capital and IQT, among others. The company plans to use the funds to build the world's largest dedicated quantum chip factory and to scale up its quantum processors by approximately 10 times compared to current commercial products, with a long-term goal of scaling up by 100 times. Founded in 2021 and originating from QuTech, QuantWare focuses on the design and manufacturing of quantum processing units (QPUs). It currently supplies more than 50 customers in over 20 countries and is one of the world's largest commercial QPU suppliers in terms of shipments.