D-Wave Systems undertook a US$40-million financing round this year as part of a capital restructuring that saw its valuation fall from roughly US$450 million to below US$170 million before the receipt of funds, sources told The Globe and Mail. (The Globe and Mail)
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D-Wave Systems undertook a US$40-million financing round this year as part of a capital restructuring that saw its valuation fall from roughly US$450 million to below US$170 million before the receipt of funds, sources told The Globe and Mail. (The Globe and Mail)
Talking point: The Burnaby, B.C.-based company raised more than US$300 million from investors to date, but generated over US$75 million worth of contracts in more than two decades. Existing investors who did not participate in the round––like the CIA-affiliated In-Q-Tel, Jeff Bezos and Fidelity Investments––saw their individual stakes fall by as much as over 85 per cent. Those who did––including the Business Development Bank of Canada and Goldman Sachs––largely avoided that fate.
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