Startups  May 31, 2024

Boulder quantum firm Infleqtion raises nearly $11M

BOULDER — Infleqtion, a quantum information company, raised about $10.8 million from investors this month, according to a pair of Form Ds filed recently with the U.S. Securities and Exchange Commission.

The fundraiser came less than two months after the company hired Matthew Kinsella as its new CEO.

Infleqtion, the trade name used by ColdQuanta Inc., declined to comment on the fundraiser. 

Kinsella replaces Scott Faris, who has stepped down to focus on quantum -ndustry policy and investments in national security and defense. 

Infleqtion’s new leader joins from Maverick Ventures, where he served as a senior managing director and led investments, including Maverick’s investment in Infleqtion. Maverick is one of the company’s earliest investors, and Kinsella has served on Infleqtion’s board since June 2018.

When he was hired in April Kinsella said that Infleqtion is well-positioned as quantum technology moves into the commercial realm. “I’m honored to guide the company through our next pivotal phase. With our robust foundation, exceptional team, and dedication to scalable solutions, we are ready to seize the immense potential of quantum technology to revolutionize industries and create a brighter future for all. Our focus on clocks, RF (radio frequency), compute, and quantum-enabled AI (artificial intelligence) software presents growing and near-term revenue opportunities. We are committed to developing and delivering cutting-edge solutions to our customers.”

Quantum technology is considered a catalyst for developments in finance, defense, energy, health care, life sciences, and more, the company said in an April press statement. It recently signed agreements with Japan’s Quantum Moonshot program, the National Quantum Computing Centre in the United Kingdom and the Defence Cyber Marvel 3, Europe’s cyber defense exercise organized by the Army Cyber Association.

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