VC-backed D-Wave raises $50 mln facility from PSP Investments
D-Wave Systems Inc, a Vancouver quantum computing systems and software company, has secured a convertible notes facility of up to US$50 million from Public Sector Pension Investment Board (PSP Investments). PSP funded US$30 at closing, with an additional US$20 million available upon the company's achievement of milestones. The facility will help D-Wave deploy its quantum computing system with more densely-connected qubits, as well as products for machine learning applications. D-Wave has raised about US$200 million, including the facility. Its other backers include BDC Capital, Bezos Expeditions, Fidelity Investments, Goldman Sachs and In-Q-Tel.
16 May 2017•3 mins read
