Qolab Secures Investment from Applied Ventures and Announces Collaboration to Advance Quantum Computing Manufacturing

MADISON, Wis.--(BUSINESS WIRE)--Qolab, Inc., a leading innovator in quantum computing hardware, today announced an investment from Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc. This Series A investment marks a significant milestone in the collaboration between Qolab and Applied Materials to accelerate the development and scalable manufacturing of superconducting qubits.

“Applied Ventures is excited to invest in and support Qolab in their mission to build scalable, high-coherence quantum processors,” said Rajesh Ramanujam, Investment Director at Applied Ventures. “Our investment aligns with our strategy of backing innovative companies that can leverage our expertise in materials engineering.”

Beyond the investment, Qolab and Applied Materials have collaborated to develop a detailed technical roadmap paper titled "How to Build a Quantum Supercomputer: Scaling from Hundreds to Millions of Qubits" (https://arxiv.org/abs/2411.10406). Co-authored with leading semiconductor and quantum computing industry experts, the paper outlines a clear strategy for achieving scalable quantum computing architectures.

“Applied Materials’ collaboration with Qolab aims to develop processes for creating superconducting qubits with much lower error rates and better uniformity. This is a critical step toward accelerating the development of large-scale quantum computing,” said Dr. Robert Visser, Vice President in the Office of the CTO at Applied Materials, and one of the authors of the technical roadmap paper.

Alan Ho, CEO of Qolab, stated, “Our collaboration with Applied Materials and other leading semiconductor partners, as outlined in our published roadmap, reflects a collective semiconductor industry effort to bring quantum computing to scale.”

Results from Qolab and Applied Materials collaboration will be presented at the upcoming American Physical Society (APS) March Meeting on March 17, 2025, by Dr. John Martinis, CTO and Co-founder of Qolab.

About Qolab

Qolab is a leading quantum computing hardware company focused on developing high-coherence superconducting qubits and scalable quantum architectures. By leveraging semiconductor fabrication techniques, Qolab aims to bridge the gap between quantum research and commercial-scale quantum computing. For more information, visit www.qolab.ai.

About Applied Ventures

Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., invests globally in innovative technology companies that have the potential to deliver high growth and exceptional returns. For more than a decade, Applied Ventures has invested in startups that are pioneering innovations in semiconductor and display technologies, high-performance computing, smartphones, augmented and virtual reality, AI/ML, autonomous cars, big data, life sciences, fab automation software, robotics, sensors, advanced materials and cleantech. For more information, visit www.appliedventures.com.