D-Wave secures $17M Series C for quantum computing
February 4, 2008
D-Wave Systems, developer of quantum computers targeted at commercial applications, has announced the closing of a $17 million Series C financing. The round was led by International Investment and Underwriting (IIU) of Dublin, Ireland and was strongly supported by existing investors. D-Wave will use the funds for product development, operations and business development activity.
Our vision is to make quantum computing power available globally and to accomplish this requires a network of international partners," said D-Wave CEO Herb Martin.
D-Wave is the first company to announce the development of a commercial quantum computer and has twice publicly demonstrated prototype systems running real-world applications, the company said.
The D-Wave machine is intended to be deployed as a co-processor, which will provide acceleration to applications executing on classical digital computer systems.
D-Wave's system will be available for on-line access in early 2009 and will be useful for accelerating high value applications involving discrete optimization, pattern matching, machine learning and constrained search with preferences. Such applications are found throughout the operations research, life sciences, finance, travel, chemical and petrochemical industries. Applications in quantum simulation and electronic design automation will follow soon thereafter, the company said.
The latest financing round was fully subscribed by existing investors Draper Fisher Jurvetson (DFJ), GrowthWorks Capital Ltd, BDC Venture Capital, Harris & Harris, bcIMC and Pender Fund.
PSivida's pSiNutria business sold to Intrinsiq
January 25, 2008
pSivida Ltd. (Nasdaq: PSDV), a nanotech-based drug delivery company, has sold the assets of its wholy owned subsidiary, pSiNutria Ltd., to Intrinsiq Materials, a U.K.-based venture capital backed company.
As part of the deal, Intrinsiq will make a series of payments totalling $1.23 million in the first year following this closing of the transaction, then about $3.9 million over the next six years.
Protagen raises $1.5M to expand protein biochip unit
January 23, 2008
Protagen AG has announces the closing of an interim financing round of €1 million (about $1.5 million) to expand the company's protein biochips business unit.
The capital raised in this round has come from existing institutional investors, MIG AG and Co KG Beteiligungsfonds 3, Munich, and S-Venture Capital Dortmund GmbH, as well as from a new investor, Kreditanstalt für Wiederaufbau (KfW). This latest funding brings the total amount of venture capital financing raised by Protagen since 2004 to €5.3 million (about $7.8 million).
The UNIchip protein biochip range was launched onto the market in September 2005, and has experienced increasing demand from biotech and pharmaceutical companies, the company said in a news release.
MEMSCAP's Q407 earnings report reveals sustained profitability
January 21, 2008
France-based MEMS technology provider MEMSCAP has announced its earnings for the fourth quarter ending December 31, 2007. Among the main achievements reported are:
- Highest quarterly revenue in U.S. dollars of the whole group history;
- Profitability over nine consecutive months;
- Second quarter in a row of operational profitability;
- IntuiSkin annual revenue multiplied by four year to year.
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