Rigetti quantum computing company raises $71 million

Rigetti quantum computing company raises $71 million

Business news |
By Peter Clarke

This brings the amount invested in the company, which was founded in 2013, to more than $190 million. However, it lags behind younger California rival PsiQuantum Corp. which recently announced it had raised $230 million (see Quantum computing startup raises $215 million).

The filing by Rigetti, dated February 28, 2020, states that the company has sold just over $71 million, with an additional $12.8 million of equity still available. It does not disclose who bought the stock in the company.

In March 2017 Rigetti announced it had raised $64 million in Series A and Series B rounds of financing. The Series A round of $24 million was led by Andreessen Horowitz. The $40 million Series B was led by Vy Capital and included Andreessen Horowitz. Investors in both rounds include Y Combinator’s Continuity Fund, Data Collective, FF Science, AME Cloud Ventures, Morado Ventures, and WTI. Institutional investors in Series A include Sutter Hill Ventures, Susa Ventures, Streamlined Ventures, Lux Capital, and Bloomberg Beta.

Rigetti raised a further $50 million in a Series C round of finance in November 2017 that includes Streamlined Ventures and Seabed VC, according to reports.

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