ColdQuanta Closes Explosive Year of Growth Achieving Over 140% Bookings Increase and Nearly Doubling Headcount

BOULDER, Colo., Jan. 31, 2022 /PRNewswire/ -- ColdQuanta, the global quantum ecosystem leader, today announced the completion of a milestone year in 2021, with significant momentum across all facets of the business including revenue, headcount, technical milestones, industry partnerships, leadership expansion and more.

"2021 was a successful year for ColdQuanta with unprecedented growth across all aspects of our business," said Scott Faris, ColdQuanta CEO. "Quantum technology has earned its moment in the spotlight and our ecosystem approach to the market is paying dividends. By doubling down on key business initiatives this coming year and significantly expanding the scope of our quantum solutions, we are bringing to market a differentiated position capable of rapidly delivering on the scalable quantum promise."

Noteworthy milestones over the last year include:

• Over 140% bookings growth from both new and recurring customers and use cases
• Over 70% growth in headcount, bolstering the leadership team with key executives from Luminar, Raytheon, Lockheed Martin, Webroot and related industries
• Customers:
• Won contract with DARPA for Quantum Apertures Program
• Secured $3.6 million DARPA contract for the Science of Atomic Vapors for New Technologies (SAVaNT) project
• Announced new milestones for more precise inflight navigation systems as part of the High-BIAS2 (High Bandwidth Inertial Atom Source) project
• Announced key partnerships with IBM, Strangeworks and Classiq
• Achieved technical milestones and honors:
• Achieved quantum computer milestone by trapping and addressing 100 qubits in a large, dense 2-D cold atom array
• World's first demonstration of multi-qubit quantum algorithms on a neutral atom quantum computer
• ColdQuanta Founder and CTO Dana Anderson awarded 2021 Willis E. Lamb Award for Laser Science and Quantum Optics
• Albert quantum signal processing system, which enables the design and prototyping of quantum products, awarded 2022 SPIE and Photonics Media Prism Award
• Expansion of world-class business and technical leadership to include:
• Scott Faris, CEO
• Rushton McGarr, CFO
• Paul Lipman, President, Quantum Information Platforms
• Chester Kennedy, President of Research and Security Solutions
• Barry Behnken as EVP Engineering
• Laura Thomas, Vice President of Corporate Strategy
• Sarah Schupp, Vice President of People, Culture and Brand
• Anjul Loiacono, Vice President of Quantum Signal Processing Platform

"ColdQuanta is uniquely positioned to usher in the new era of quantum," said Dana Anderson, ColdQuanta's founder and CTO. "Unlike other modalities, our cold atom method does not rely on future scientific discoveries to predictably and cost-effectively scale. At the same time, our technology is highly adaptable to multiple applications that will be used to solve some of today's most pressing challenges across finance, healthcare, transportation and more."

About ColdQuanta 
ColdQuanta is a quantum technology company with a diverse portfolio of more than 50 products and services. Its breakthrough technology enables the creation of a global ecosystem consisting of machines, devices and information platforms to help solve the world's most challenging problems. Founded in 2007, ColdQuanta grew from decades of research in atomic physics and work at JILA with its IP exclusively licensed through the University of Colorado and University of Wisconsin. ColdQuanta's scalable and versatile cold atom technology is leveraged by world-class organizations around the globe, and is currently deployed on the International Space Station in a joint effort with NASA. ColdQuanta is based in Boulder, CO with offices in Madison, WI and Oxford, UK. Find out how ColdQuanta is delivering on the scalable quantum promise at www.coldquanta.com.

The name ColdQuanta and the ColdQuanta logo are both registered trademarks of ColdQuanta, Inc. 

SOURCE ColdQuanta, Inc.