The Wisconsin Alumni Research Foundation participated in a $16 million Series A funding round for Qolab, which made the announcement recently.
Octave Ventures led the round, which also saw participation from Development Bank of Japan Inc. (DBJ) and Phoenix Venture Partners. According to a release, the funds will help expand Qolab’s team of quantum scientists and engineers, accelerate development cycles and scale its superconducting quantum processors.
“Qolab is well-positioned to leverage both domestic and international support in advancing its technology,” Qolab CEO Alan Ho said in a statement. “The combined backing from Octave Ventures and DBJ is a testament to Qolab’s role as a global innovator in quantum technology and aligns with Japan’s strategic goals in fostering cutting-edge advancements.”
Qolab, based in Los Angeles, specializes in scalable quantum systems for industries ranging from pharmaceuticals to logistics.
One thought on “WARF Invests in Qolab Series A”