Qolab, Inc. a leader in superconducting quantum computing, announced that it secured over $16.0 million to date in its Series A financing round, led by Octave Ventures with co-investment from the Development Bank of Japan Inc.(DBJ), Wisconsin Alumni Research Foundation(WARF), and Phoenix Venture Partners. 

This investment represents a significant step in Qolab’s mission to develop utility-scale quantum computing technology by advancing scalability in quantum systems.

“Qolab is well-positioned to leverage both domestic and international support in advancing its technology,” said Alan Ho, CEO of Qolab. 

“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 is led by a team of visionary leaders who are focused on shaping the future of quantum computing. Through collaboration with strategic partnerships across the semiconductor industry, QoLab is turning quantum computing into a practical, real-world technology that will redefine industries and unlock unprecedented possibilities.” said Michael S. Kim, Founder of Octave Ventures.

Yuki Takemori, General Manager of Innovation Promotion Office at the Development Bank of Japan, added, 

“Qolab’s focus on precision and quality in quantum computing is impressive. Their ability to leverage partnerships and push the boundaries of qubit design is exceptional. DBJ is excited to be part of their journey as they continue to make groundbreaking advancements in this field.” said Yuki Takemori, General Manager of Innovation Promotion Office at the Development Bank of Japan.

The Series A funding will enable Qolab to expand its team of quantum scientists and engineers, accelerate development cycles, and scale its superconducting quantum processors. Additionally, the company plans to deepen its semiconductor partnerships to bring scalable quantum computing technology to market.