D-Wave Systems raises $29 million from investors

D-Wave Systems Inc has raised another $29 million from a large, unnamed institutional investor and other unspecified previous investors, bringing its investment total to $174 million. Self-described as the world's first quantum computing company, the latest financing supports its hardware and software development programs and accelerates the Burnaby BC-based firm's transition from an intellectual property aggregator and manager of basic research into an engineering firm. Led by CEO Vern Brownell, former CTO at Goldman Sachs, the firm has amassed a portfolio of more than 150 patents, launched a professional services division, established partnerships with software firms DNA-SEQ (La Jolla CA) and IQBit (Coral Springs FL) and collaborated with high-profile labs and universities to expand access to its products for academic research….