Qolab raises $54.2M Series B for superconducting quantum hardware

Qolab, a Santa Barbara-based quantum computing hardware startup, announced $54.2 million in Series B financing on July 2, 2026. The total includes $12.6 million in convertible securities and a commitment for an additional $10 million in future convertible securities, alongside the Series B Preferred Stock financing.

The round was led by UC Investments, the University of California’s chief investment office, with participation from existing financial and strategic semiconductor backers including the Wisconsin Alumni Research Foundation, Octave Ventures, and Phoenix Venture Partners. Qolab said the capital will support development of its superconducting quantum computing platform and help expand partnerships across the global quantum ecosystem.

The financing adds to a wave of funding for quantum hardware companies working on scalable superconducting systems, a segment that remains central to efforts to build fault-tolerant quantum computers. Qolab’s positioning in hardware, rather than software alone, makes the round notable because advances in quantum performance depend heavily on improvements in the underlying device platform.