IonQ develops trapped-ion quantum computers that use individual ions suspended in vacuum as qubits. The company emphasizes room-temperature operation and easier qubit creation, though trapped-ion systems are currently slower than some alternatives. IonQ is focused on controlling qubits and is already working on the next three generations of its systems. The company remains largely in research and development and does not currently have any revenue. IonQ expects broader availability once Amazon and Microsoft make its systems available in their clouds. The company is based in College Park, Maryland, and has added several high-profile advisors, including Nobel laureate David Wineland. IonQ develops quantum computing hardware and a cloud-accessible platform for running quantum workloads. Co‑founded by Jungsang Kim and Chris Monroe and led by CEO Peter Chapman and COO Stewart Allen, the company builds systems and software to operate quantum machines. It raised $55M in funding and plans to use the proceeds to continue commercializing its quantum computing platform via the cloud and to develop next‑generation systems for programming these machines. IonQ's systems have been used to generate a quantum simulation of the water molecule and the company highlights applications in accelerating drug development. The firm also cites potential uses in reducing the technology industry's carbon footprint via more efficient logistics and in advancing materials design for batteries, wind turbines, transmission lines and other sustainable technologies. IonQ is a College Park, Md.-based developer of general-purpose quantum information processors aimed at commercial applications. The company was co-founded by Christopher Monroe (University of Maryland) and Jungsang Kim (Duke University) and is led by CEO David Moehring, PhD, who joined in 2016 from IARPA. IonQ plans to bring general-purpose quantum computers to market by late 2018. It completed a $20M Series B and will use the proceeds to continue developing its operations and advance its processors. John Preskill and Jagdeep Singh are serving as advisors to the company.

Total raised

$82M

Funding rounds

3

Latest round

Series B

Latest activity

Jun 2020