Quantum Computer Maker Rigetti to Go Public via $1.5 Billion SPAC Deal


Quantum computer maker Rigetti on Wednesday said it would go public through a merger with a blank-check firm, potentially valuing the combined company at $1.5 billion (about Rs 11,240 crore).

It is the second quantum computer hardware maker to go public this year using a blank-check, or special purpose acquisition company (SPAC). Maryland-based IonQ listed on the New York Stock Exchange on Friday. SPACs are shell companies that raise funds through an initial public offering to acquire a private company, which then goes public.

Rigetti said with the merger zillow The co-founder Spencer Raskoff-backed Supernova Partners acquisition company would provide it with approximately $458 million (approximately Rs 3,431 crore) in revenue, with over $100 million (approximately Rs 749 crore) in funding and mentored by T. Rowe. Includes investments from accounts. Some strategic partners, including Price Associates, Bessemer Venture Partners, Franklin Templeton, venture capital firm In-Q-Tel — backed by the Central Intelligence Agency — and Palantir Technologies.

Rigetti’s last funding came in February last year, when it raised $79 million (about Rs 592 crore) in a round led by Silicon Valley venture capital firm Bessemer. Andreessen Horowitz, Lux Capital, Sutter Hill Ventures and DCVC are also early investors in the Berkeley, California-based quantum computing firm.

Researchers believe quantum computers could operate millions of times faster than today’s advanced supercomputers, potentially increasing the power of artificial intelligence to perform tasks such as mapping complex molecular structures and chemical reactions. can do.

While there is some debate about whether quantum computers will be able to solve real-world problems, many companies are devoting resources to making sure they are ready and investors have been flocking to quantum computing hardware and software startups. . big tech companies Alphabet, international business system, honeywell, Microsoft And heroine Investing in the computing technology of the future.

© Thomson Reuters 2021

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