PANews reported on May 5th that QuantWare, a quantum chip development company, announced the completion of a $178 million Series B funding round, one of the largest funding rounds in the quantum processor field to date. This round was led by Intel Capital and IQT, among others. The company plans to use the funds to build the world's largest dedicated quantum chip factory and to scale up its quantum processors by approximately 10 times compared to current commercial products, with a long-term goal of scaling up by a hundredfold.

Founded in 2021 and originating from QuTech, QuantWare focuses on the design and manufacturing of quantum processing units (QPUs). It currently supplies more than 50 customers in over 20 countries, making it one of the world's largest commercial QPU suppliers by shipment volume. Unlike IBM and Google, which develop their own QPUs for their own use, QuantWare positions itself as a neutral supplier. Its VIO platform supports a modular "chiplet" architecture, helping third-party companies scale up their quantum chips.

The company stated that it will overcome the bottlenecks in the expansion of quantum computing in packaging, wiring, and manufacturing through modular design and a dedicated factory with a capacity increase of approximately 20 times, thereby accelerating the development of the global quantum industry chain.