Quantum Circuits Acquisition, Valuation, Funding & Investors

Quantum Circuits was acquired by D-Wave Quantum for $550M in January 2026.

Quantum Circuits acquisition price

$550M

Acquired by D-Wave Quantum · Jan 2026

Cumulative funding Quantum Circuits raised

$78M

across 2 funding rounds

Key investors in Quantum Circuits

  • Sequoia Capital
  • Canaan Partners
  • OUP (Osage University Partners)
  • Tribeca Venture Partners
  • Fitz Gate Ventures
  • F-Prime
  • ARCH Venture Partners
  • Connecticut Innovations

Quantum Circuits Overview

About Quantum Circuits

Quantum Circuits is a New Haven-headquartered quantum computing company developing full-stack systems with superconducting qubits incorporating dual-rail architecture for built-in error detection and correction. This design demands ten times fewer physical qubits per logical qubit, paving a practical route to fault-tolerant computing. Originating from Yale University research led by Sterling Professor Robert Schoelkopf, the team pioneers quantum electrodynamic circuits and scalable processors operational at commercial scales.


Founded

2015

HQ

United StatesNew Haven, CT

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$550M (acquired Jan 2026)

Quantum Circuits Acquisition

Quantum Circuits was acquired by D-Wave Quantum for $550M on 6 January 2026.

Before the acquisition Quantum Circuits had raised $78M across 2 funding rounds.

Quantum Circuits acquisition details
AcquirerDateTypePrice
6 Jan 2026Strategic M&A$550M

Quantum Circuits Funding History

Quantum Circuits has raised a total of $78M across 2 funding rounds.

Quantum Circuits' first fundraising round was a $18M Series A in November 2017. The most recent completed round was a $60M Series B in May 2024.

Quantum Circuits funding rounds

Quantum Circuits funding rounds
DateStageInvestorsRaisedDeal Summary
May 2024Series BARCH Venture Partners (lead); F-Prime (lead); Hither Creek Ventures (lead); Sequoia Capital (lead); Tao Capital Partners; Canaan Partners; Fitz Gate Ventures; Connecticut Innovations; Tribeca Venture Partners; IQT; OUP (Osage University Partners)$60MQuantum Circuits, a Yale University spinout founded in 2015, develops superconducting quantum computing systems with a proprietary approach to built-in error detection and correction for scalable, high-fidelity computing. The company, based in New Haven, Connecticut, employs around 50 people, mostly Ph.D.s, and recently launched a cloud-based simulation platform for quantum applications to accelerate commercialization. In August 2024, Quantum Circuits closed its Series B funding round, raising more than $60 million led by ARCH Venture Partners, F-Prime Capital, Sequoia Capital, and Hither Creek Ventures, with participation from Canaan Partners, Fitz Gate Ventures, In-Q-Tel (IQT), Osage University Partners, Connecticut Innovations, Tao Capital Partners, and Tribeca Venture Partners. This final closing followed a $26.6 million extended Series B in May 2024, bringing total funding since inception to over $84 million. The capital supports engaging lead customers, setting commercial go-to-market plans, and advancing full-stack quantum solutions with error detection. The appointment of President and CEO Ray Smets, formerly of Cisco, Motorola, and AT&T, preceded the final close. Smets aims to deliver reliable quantum computing at scale by empowering algorithm developers with real-time error detection and control. Investors highlight Quantum Circuits' leadership in error correction, positioning it ahead in building functional quantum computers amid industry focus on qubit counts. The funding underscores confidence in the company's path to commercial-ready quantum systems, with potential future plans including an IPO.
Nov 2017Series ACanaan Partners (lead); Sequoia Capital (lead); Fitz Gate Ventures; Tribeca Venture Partners; OUP (Osage University Partners)$18MQuantum Circuits Inc. (QCI), founded in 2015 by Yale scientists Michel Devoret, Luigi Frunzio, and Robert Schoelkopf, develops, manufactures, and sells practical quantum computers based on superconducting devices. The company focuses on modular quantum systems that can be reconfigured and reprogrammed for applications including drug design in biotech, improved industrial chemical processes, FinTech, machine learning, and energy. On November 13, 2017, QCI raised $18 million in a Series A funding round co-led by Canaan Partners and Sequoia Capital, with participation from Tribeca Venture Partners, Osage University Partners, and previous investor Fitz Gate Ventures. Canaan partner Brendan Dickinson and Sequoia partner Bill Coughran joined the company's board as part of the transaction. The funding supports scaling of electrical, mechanical, and systems engineers to implement quantum physics, as well as hiring software designers and programmers for algorithms and real-world applications.

Who has invested in Quantum Circuits?

11 investors have backed Quantum Circuits across its funding rounds, including Sequoia Capital, Canaan Partners, OUP (Osage University Partners), Tribeca Venture Partners, Fitz Gate Ventures and F-Prime.

Lead investors include ARCH Venture Partners, F-Prime, Hither Creek Ventures, Sequoia Capital and Canaan Partners.


Quantum Circuits Investors

Investors in Quantum Circuits by funding rounds participated
InvestorHQRoundsRoleFirst check
Canaan PartnersUnited StatesUnited States2LeadNov 2017
Fitz Gate VenturesUnited StatesHouston, TX2ParticipantNov 2017
Tribeca Venture PartnersUnited StatesNew York City, NY2ParticipantNov 2017
Sequoia CapitalUnited StatesSan Francisco, CA2LeadNov 2017
OUP (Osage University Partners)United StatesPhiladelphia, PA2ParticipantNov 2017
Tao Capital PartnersUnited StatesSan Francisco, CA1ParticipantMay 2024
Connecticut InnovationsUnited StatesHartford, CT1ParticipantMay 2024
Hither Creek VenturesUnited StatesNew York City, NY1LeadMay 2024
F-PrimeUnited StatesUnited States1LeadMay 2024

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Quantum Circuits Competitors

Quantum Circuits competitors include listed companies like D-Wave Quantum and Northern Data, and private ones like Quantum Machines, Riverlane, IQM Quantum Computers and QuEra Computing.

Public and private companies comparable to Quantum Circuits
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Quantum MachinesUnited StatesWilmington, DEPrivate--$700M-
RiverlaneUnited KingdomCambridgePrivate$3M-$400M133.3x
IQM Quantum ComputersFinlandEspooPrivate$35M-$1B28.6x
QuEra ComputingUnited StatesBoston, MAPrivate$41M-$1B24.4x
D-Wave QuantumUnited StatesUnited StatesPublicly listed$25M($373M)$6.7B166.4x
Northern DataGermanyGermanyPublicly listed$92M($36M)$624M-

Quantum Circuits Public Comps

Quantum Circuits is no longer listed, but its public comps include Northern Data, Fixstars, Whitefiber, SemiFive, Corvex, QumulusAI, Exascale Labs, Stradvision, Blaize Holdings and Alpha Technology Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Northern Data$92M($36M)15.4x-(39.8x)-
Fixstars$62M$18M6.7x5.9x23.5x-
Whitefiber$79M($2M)12.1x7.9x(412.2x)25.8x
SemiFive$80M($31M)5.5x3.5x(14.0x)(31.6x)
Corvex$433K($15M)2054.0x-(57.9x)-
QumulusAI$13M$3M27.0x-122.7x-
Exascale Labs$7M($8M)26.2x-(24.0x)-
Stradvision$13M($21M)6.6x6.9x(4.2x)-

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Common questions about Quantum Circuits

When was Quantum Circuits founded?Quantum Circuits was founded in 2015.
Where is Quantum Circuits headquartered?Quantum Circuits is headquartered in New Haven, CT, United States.
Is Quantum Circuits publicly listed?No, Quantum Circuits was acquired by D-Wave Quantum in January 2026.
Who acquired Quantum Circuits?Quantum Circuits was acquired by D-Wave Quantum in January 2026.
How much was Quantum Circuits acquired for?Quantum Circuits was acquired for $550M in January 2026.
How much funding has Quantum Circuits raised?Quantum Circuits has raised $78M across 2 funding rounds.
What was Quantum Circuits' last funding round?Quantum Circuits' last funding round was a $60M Series B in May 2024, led by ARCH Venture Partners, F-Prime, Hither Creek Ventures and Sequoia Capital.
Who are Quantum Circuits' investors?Quantum Circuits' investors include Canaan Partners, Fitz Gate Ventures, Tribeca Venture Partners, Sequoia Capital, OUP (Osage University Partners), Tao Capital Partners, Connecticut Innovations, Hither Creek Ventures, F-Prime, IQT and 1 other.
Which companies are comparable to Quantum Circuits?Companies comparable to Quantum Circuits include Quantum Machines, Riverlane, IQM Quantum Computers, QuEra Computing, D-Wave Quantum and Northern Data.

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