From secure communications via quantum encryption, to enhanced training for machine learning systems, to the efficient design of meta-materials, there’s massive potential for quantum computing to disrupt nearly every industry.

Using CB Insights data we analyzed major fundings for private quantum computing companies. Our analysis includes major equity rounds with a disclosed amount raised by a startup, including seed/angel, Series A, or convertible note rounds, as well as unclassified rounds raised by stealth companies like Eagle Power Technologies.

Starting with D-Wave’s first funding round in 2000, the industry has developed slowly, only to see a rush of newer companies obtaining their first financing more recently.

A few startups, like Rigetti Computing and Qubitekk, are embarking on the capital-intensive challenge of building the hardware necessary to create a commercially viable quantum computer (something D-Wave has already done). Other private companies, like ID Quantique or Post Quantum, are offering security products and services based on quantum encryption. Still others, including QC Ware and Cambridge Quantum Computing, are focusing on software aimed at enterprises running quantum computers. And a few, like Quantum Biosystems, are developing niche quantum computing-based applications, such as advanced genomic sequencing.

Below we’ve put together a timeline of the funding rounds to quantum computing-focused companies, to give a sense of how financing to the industry — and enthusiasm for the technology — has developed.

Click on the image to enlarge.

Key takeaways from the timeline: 

• Fifteen private quantum computing companies have received equity funding since 2000 — for a total of nearly 40 equity funding rounds through 2016 year-to-date (9/7/2016).
• The private company D-Wave Systems offers the world’s only commercially viable quantum computer and has customers that include Lockheed Martin, Google, and Los Alamos National Laboratory. D-Wave was the first private company to bet big on quantum computing, and the company has dominated the field since it raised its first round in 2000. It has since raised the most rounds (11) and the most money ($137M) of any private company in the industry.
• There were nearly 4X as many quantum computing funding rounds in the last three years compared to the previous fourteen years combined. In fact, there were 27 disclosed equity rounds between 2013 through 2016 year-to-date (9/7/2016), compared to just 7 in the 14 years between 2000-2013.
• 2014 saw the most activity with 11 rounds. So far in 2016, there have been three funding rounds to the companies Optalysys, Eagle Power Technologies, and Post-Quantum.
• Five companies on the timeline have not yet obtained a follow-on funding round, including ID Quantique, 1QBit Information Technologies, QC Ware, Eagle Power Technologies, and Cambridge Quantum Computing.
• Of companies with equity funding, the most populated market segment is in “quantum encryption,” for secure communications. Quantum encryption companies on the timeline include: Qubitekk, QuintessenceLabs, Nano-Meta Technologies, ID Quantique, and Post-Quantum.

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