GOLDEN, Colo.--(BUSINESS WIRE)--Vescent, the leader in Quantum 2.0 Technologies Enabling Commercialization, has closed a $5 million Series Seed funding round led by Corporate Fuel, with additional participation from Caruso Ventures.
This capital infusion accelerates the Company's new product introduction, scales manufacturing to meet customer demand, and expands its market reach, building upon its foundation of reference level quantum expertise and existing commercialization and manufacturing track record.
Accelerating the Company's new product introduction provides customers with the latest in low Size, Weight, and Power (SWaP), ruggedness, and performance for their quantum applications, with its Frequency Combs, Lasers, and Controls for quantum timing (optical clocks), quantum computing, quantum networking, and quantum sensing. The funding will, in part, be used to grow manufacturing infrastructure by increasing CAPEX spend and adding staff to meet customer demand which is critical to supporting Vescent's customers as they commercialize their offerings and realize their platform’s potential sooner. Improving support for existing customers and adding new customers is essential to raising Vescent to the next level.
"We are excited to lead Vescent's Series Seed investment round as the Company continues to expand its key position as a core technology provider to the global quantum ecosystem," said Russ Fein, the managing partner of Corporate Fuel’s investment. "The Vescent management team is highly capable and experienced. We look forward to helping them accelerate the Company's growth and are thrilled to have found such an exciting opportunity in the quantum space."
“As a board member of Colorado’s Quantum Tech Hub, Elevate Quantum, and Managing Director of Caruso Ventures, I am excited to support Vescent as a manufacturing leader in critical quantum hardware,” said Dan Caruso.
"Vescent is on the front lines of scaling the quantum ecosystem. Our quantum enabling solutions support both scientific and industrial customers as our commercial solutions are deployable. This capital infusion is what we need now to continue to execute. Quantum is hard, and we are ready," said Scott Davis, CEO of Vescent.
About Vescent
Vescent is leading and enabling the commercialization of Quantum Technologies in the lab and in the field. It has been providing frequency Combs, Lasers, and Controls to 100s of customers on the front lines of scaling the commercial quantum ecosystem throughout the world with low-SWaP, ruggedness, and IP. Vescent is based in Golden, CO, and is working to overcome the challenges of enabling Quantum 2.0 as it scales out. To find out more, visit Vescent.com.
About Corporate Fuel
Corporate Fuel Advisors is a New York based merchant banking firm. It looks to partner with exceptional management teams seeking to use advanced technologies to transform industries. has made investments in nanotechnologies, machine learning, and software businesses with a hands-on orientation to bring best business practices to its portfolio companies. To find out more, visit Corporate Fuel.
