Rigetti Quantum Computing

Rigetti Quantum Computing, a quantum computing company, was founded in 2013 by Chad Rigetti and based in Berkeley and Fremont, California. As of 2019, the company has raised over $119 million from investors, including Andreessen Horowitz and Vy Capital and has over 50 U.S. patent applications on file. Rigetti also participated in the YC S14 cohort of Y Combinator and raised an estimated $69,450,000.

Integrated quantum-classical computing leverages today’s existing high-power processors and the advanced computational power of quantum chips to accelerate deployment of quantum computing in the near term. Rigetti deploys full-stack solutions for this integrated computing environment.

Rigetti designs and manufacture s superconducting quantum integrated circuits at their in-house fabrication facility. The company packages and deploys those chips in cryogenic environments and build s software that integrates their systems directly into cloud infrastructure.

Rigetti's quantum-first cloud platform provides dedicated access to their quantum hardware through a virtual development environment. Quantum Cloud Services is the company's quantum-first integrated cloud platform that gives users access to their real quantum hardware through a virtual programming environment. It allows the user to develop and execute quantum-classical programs in a virtual, classical compute environment.

Funding

Seed

Rigetti Quantum Computing announced the first instalment of their Seed round funding with $2.5 million raised. Investors in the round included Y Combinator, Tim Draper, Taryn Naidu, Susa Ventures, Streamlined Ventures, Pegasus Tech Ventures, Paul Buchheit, Morado Ventures, Ian McNish, Felicis Ventures, Farzad Nazem, Erick Miller, David Beyer, Data Collective, Charlie Songhurst, Berggruen Holdings, Alchemist Accelerator and AME Cloud Ventures.

On August 1, 2015 Rigetti Quantum Computing announced $2.2 million in Seed Funding from Acequia Capital.

Series A

Rigetti Quantum Computing announced the close of Series A on January 1, 2016 with $24 million raised. Andreessen Horowitz led the round with participation from Sutter Hill Ventures, Susa Ventures, Streamlined Ventures, Lux Capital and Bloomberg Beta.

Series B

On March 28, 2017 Rigetti Quantum Computing announced the close of their Series B round with $40 million raised. Andreessen Horowitz and Vy Capital led the round with participation from Y Combinator, Morado Ventures, FF Science, Data Collective and AME Cloud Ventures.

Series C

On December 1, 2017 Rigetti Quantum Computing announced the close of their Series C with $50 million raised. Streamlined Ventures and Seabed VC participated in the round.

Venture funding

On July 11, 2019 Rigetti Quantum Computing announced raising an undisclosed amount of venture funding from the Capikris Foundation.

Acquisition

Announced on July 11, 2019, Rigetti Quantum Computing acquired QxBranch, an Adelaide-based quantom software startup. The deal was an all-equity transaction. QxBranch's staff, in Washington, D.C., Adelaide and London, will focus on building software development tools and applications and work with customers to implement specialized quantum algorithms for Rigetti.