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This article looks at several undervalued quantum computing stocks for investors to consider. Quantum computing is an innovative technology that utilizes the principles of quantum mechanics to tackle highly intricate problems beyond the capabilities of classical computers. With the availability of real quantum hardware, a concept envisioned only 30 years ago, hundreds of thousands of developers now have access.

Engineers consistently release increasingly potent superconducting quantum processors, accompanied by pivotal advancements in software. This collective effort aims to achieve the speed and capacity required to revolutionize various industries.

In laymans terms, quantum machines differ significantly from classical computers that have existed for over half a century, marking a transformative era in computational capabilities.

Supercomputers, comprising thousands of classical CPU and GPU cores, are the go-to for scientists and engineers facing complex challenges. However, their reliance on binary code and 20th-century transistor technology limits their effectiveness, especially for highly intricate problems involving numerous interacting variables.

Classical computers often falter when dealing with complexity, such as modeling atomic interactions or detecting subtle fraud patterns. Quantum computers, leveraging quantum physics principles, offer a promising alternative.

Operating with quantum bits (qubits) that exist in multiple states simultaneously, they present a potential solution to problems deemed unsolvable by classical computers. As the real world operates on quantum physics, quantum computing emerges as a revolutionary tool for tackling previously insurmountable tasks.

Quantum computers need to operate in an extremely cold operating environment, as low as -272C, to prevent interference from thermal noise.

Lets dive into the three most undervalued quantum computing stocks in January.

IonQ (NYSE:IONQ) is a leading player in quantum computing, offering cutting-edge solutions. Utilizing trapped ions as qubits, IonQ stands out for its advanced quantum hardware. The company aims to deliver practical quantum computing power for various applications, ranging from optimization problems to complex simulations.

Last September, IonQ reported third-quarter results with $6.1 million in revenue, surpassing the upper end of its previously-communicated range. The outlook for 2023 full-year revenue and bookings has been raised once again.

The third quarter saw bookings of $26.3 million, bringing the year-to-date bookings to $58.4 million as of Q3. The company demonstrated robust growth in its commercial pipeline. It achieved a significant milestone with $100 million in cumulative bookings within the initial three years of its commercialization efforts, showcasing the strong demand for IonQs quantum computing solutions.

Shares are down about 24% over the last three months. IONQ has a market cap of $2.33 billion.

FormFactor (NASDAQ:FORM) is one of the three undervalued quantum computing stocks, is a prominent semiconductor testing and measurement solutions provider. Specializing in advanced wafer probe cards, FORM facilitates the evaluation and testing of semiconductor devices during manufacturing. The companys cutting-edge technologies contribute to developing high-performance electronic devices, including quantum computing products, across various industries.

Approximately 25% of FormFactors revenue falls under the systems category, encompassing machines utilizing probe cards. CEO Mike Slessor highlighted on an earnings call that these systems collaborate with fab customers, contributing to R&D efforts for advancing wafer and chip manufacturing techniques, particularly for materials like silicon carbide (SiC) and gallium nitride (GaN).

Notably, FormFactors quantum cryogenics systems, included in this unit, cater to the unique requirements of quantum computers, which operate in a closely monitored environment. FormFactor is vital in supporting companies developing quantum computers and chipmakers testing advanced chips and materials for extreme conditions.

For the third quarter of 2023, the company reported record systems segment revenue. Shares are up 16% over the past three months, with a market cap now at just over $3 billion.

Source: Laborant / Shutterstock.com

IBM (NASDAQ:IBM) said recently that it has developed hardware and software solutions reaching a groundbreaking point. This enables the execution of quantum circuits with 100 qubits and 3,000 gates, devoid of known answers. Accordingly, this marks a pivotal moment where quantum becomes a practical computational tool.

I like to say users are using quantum computing to do quantum computing, and we are adding capabilities that open up quantum to an extended set of users that includes what we refer to as quantum computational scientists. We think this is proof enough that weve entered a new era, the company said in a blog post.

IBM recently unveiled IBM Condor, a remarkable leap in quantum processing with a 1,121 superconducting qubit quantum processor. Built on cross-resonance gate technology, Condor achieves a 50% increase in qubit density, pushing the boundaries of chip design scalability and yield. Despite its significantly expanded scale, Condors performance remains comparable to its predecessor, the 433-qubit Osprey.

IBM stock is up about 20% over the past three months. However, its multi-year performance still lags other Big Tech stocks, leaving room for shares to re-rate higher on the companys increasing exposure to next-gen technologies like quantum computing, AI, ML, etc.

On the date of publication, Shane Neagle did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Shane Neagle is fascinated by the ways in which technology is poised to disrupt investing. He specializes in fundamental analysis and growth investing.

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The 3 Most Undervalued Quantum Computing Stocks to Buy in January - InvestorPlace

January 23, 2024

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The era of quantum computing is on its way as governments and private sectors have been taking steps to standardize quantum cryptography. With the advent of the new era, we are faced with new opportunities and challenges. This article will outline the potential impact of quantum computing and discuss strategies for preparing ourselves amid these anticipated changes.

In 1980, Paul Benioff first introduced Quantum Computing (QC) by describing the quantum model of computing. In classical computing, data is processed using binary bits, which can be either 0 or 1, whereas quantum computing uses quantum particles called qubits. Qubits can be in multiple states beyond 0 or 1, making them much faster and more powerful to perform calculations than a normal bit. To be more specific, with a quantum computer, we can finish a series of operations that would take a classical computer thousands of years in just hundreds of seconds. In fact, IBM just launched the first quantum computer with more than 1,000 qubits in 2023.

Nevertheless, the speed boost of quantum computing can have double-edged consequences. Modern cryptographers have been concerned about the potential impacts on the security of public-key crypto algorithms. Those regarded as unbreakable are now at risk, as a cryptographically relevant quantum computer (CRQC) can do short work of decryption. For instance, the most popular public-key cryptosystem, Rivest-Shamir-Adleman (RSA), was previously considered very challenging with its complex inverse computation. However, in Shors algorithm where quantum speedup is particularly evident, the once reliable computation time becomes CRQC-vulnerable. As such, the US National Institute of Standards and Technology (NIST) has been promoting the standardization of post-quantum cryptography (PQC). In addition, the National Security Memorandum (NSM-10) was issued in 2022 in response to the threat brought by cryptographically relevant quantum computers (CRQC).

In fact, when it comes to quantum computing, there are still many issues that researchers cannot agree on. In the current noisy intermediate scale quantum (NISQ) era, it is still unclear what the ideal architecture of a quantum computer is, when we can expect the first CRQC, and how many qubits we will need for a quantum computer. Take the minimum number of qubits would qualify a quantum computer as an example. Google estimated that it may be 20 million qubits. But with a different quantum algorithm, Chinese researchers in 2022 proposed their own integer factoring algorithm, claiming that only 372 qubits are needed to break a 2048-bit RSA key.

Despite the various quantum computing issues, researchers have a consensus on the necessity and urgency of the PQC transition. Based on the guidelines proposed by both public and private sectors, we have concluded the following key points for a smooth PQC transition:

The above suggestions are, in fact, not dependent on the PQC standards, and the preparations can start now. It is important to keep in mind that overall system security remains the top priority in both classical computing and the PQC era. The scope of the transition will not really affect all the classical cryptographic algorithms we are familiar with. That is, the current NIST-recommended AES-256 cipher and SHA-384 hash algorithms are still acceptable (yet not satisfying) in the post-quantum world.

The full transition to PQC may span many years, giving us more time to examine PQC readiness and stay crypto-agile. According to the National Security Memorandum (NSM-10), the winners of the final round of NISTs PQC Standardization are expected to be announced in 2024, so organizations are suggested to start the timer then. Table 1 compares those algorithms that have already been selected for NIST standards with their classical counterparts in terms of public key and ciphertext/signature size (in bytes). More importantly, any systems built today should maintain the ability to stay flexible enough to account for possible future modifications, understanding that what may appear quantum-safe today may not be so soon.

Table1: Candidates of NISTs PQC Standardization

Security concerns and levels will continue to evolve as quantum computing advances. This makes a more robust safety storage system, such as NeoPUF, necessary. When all is said and done, security is all about trust. Without the foundation of trust, the classical RSA public-key algorithm or a lattice-based PQC algorithm becomes ineffective. Since important system keys should be highly random and unable to be guessed, the secure methods for creating trust in a system will become increasingly important in the post-quantum world.An even stronger base of trust, a hardware root of trust (HRoT), must be implemented in the hardware, as the software root of trust alone is no longer considered sufficient. The most robust form of such internal provisioning is PUF-based. Having delivered trust on multiple foundry platforms, eMemory and its subsidiary PUFsecurity are highly credible. Experienced solution providers such as eMemory and PUFsecurity will still be the best choice now and moving into the post-quantum world.

To learn more about Post-Quantum Cryptography, please read the full article on PUFsecurity Website.

Read the original:
Preparing for Post-Quantum Cryptography: Trust is the Key - Embedded Computing Design

PALO ALTO, Calif. and BURNABY, British Columbia, Jan. 23, 2024 D-Wave Quantum Inc., a leader in quantum computing systems, software, and services and the worlds first commercial supplier of quantum computers, today announced it has calibrated a 1,200+ qubit Advantage2 prototype, which will soon be available in the companys Leap real-time quantum cloud service.

Developed with a new lower-noise, multilayer superconducting integrated-circuit fabrication stack, the new Advantage2 prototype demonstrates significant performance gains on hard optimization problems and is expected to be particularly powerful for new use cases such as machine learning.

The new Advantage2 prototype features 1,200+ qubits and 10,000+ couplers, double the number of qubits and couplers over the previously released Advantage2 prototype. Benchmarks demonstrate substantial advancements across a number of performance metrics compared to the Advantage quantum processing unit (QPU), including:

The new Advantage2 prototype is 20 times faster at solving spin glasses, an important family of classically hard optimization problems. Recent research has shown that compared to the Advantage system, the Advantage2 prototype grows quantum correlations twice as fast in materials simulation and shows significantly reduced errors in quantum simulation tasks. Further, it shows improved performance on constraint satisfaction problems, with the Advantage2 prototype beating the Advantage system 90% of the time.

The new Advantage2 prototype represents a giant step up in performance, said Mark W. Johnson, senior vice president of quantum technologies and systems products at D-Wave. With the new lower-noise fabrication stack, were seeing significant gains in coherence, connectivity, and energy scale, which will translate to higher-quality and faster solutions. This 1,200+ qubit prototype gives us great confidence that the full Advantage2 system will be our most performant system yet and unlock substantial computational power and problem-solving capabilities for our customers.

In November 2023, D-Wave announced important research results that demonstrate successful Quantum Error Mitigation (QEM) in the Advantage2 prototype. The techniques reduce errors in quantum simulations, producing results consistent with the quantum system maintaining its quantum state (coherence) for an order of magnitude longer time than an unmitigated system. These techniques are expected to drive performance advancements in the forthcoming Advantage2 system and future processors.

The full Advantage2 system will mark the companys sixth-generation quantum system. It is expected to feature 7,000 qubits with a new qubit design, enabling 20-way connectivity between qubits in a new topology.

About D-Wave Quantum Inc.

D-Wave is a leader in the development and delivery of quantum computing systems, software, and services, and is the worlds first commercial supplier of quantum computersand the only company building both annealing quantum computers and gate-model quantum computers. Our mission is to unlock the power of quantum computing today to benefit business and society. We do this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. D-Waves technology has been used by some of the worlds most advanced organizations including Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jlich, University of Southern California, and Los Alamos National Laboratory.

Source: D-Wave

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D-Wave Announces 1,200+ Qubit Advantage2 with Refined Error Mitigation Strategies - HPCwire

(Image by Holger Detje from Pixabay)

Much has been written about whether there will be atipping point for quantum technologies, a critical moment at which they suddenly become adopted at scale. The reality is that quantum and classical computing will co-exist long into the future, joining forces in a hybrid environment that plays to both of their strengths.

There is more good news. Quantum computers will probably become sufficiently powerful, fault-tolerant, and reliable to run some enterprise tasks this decade. But industry consensus suggests that use cases that are ideally suited to such devices will emerge more slowly. These might include applications that model the natural world and chaotic processes, crunch huge numbers, reveal hidden correlations in specialized data, or help researchers develop new materials and drugs alongside AI on classical devices.

But in the absence of a tipping point, might there be a so-called black swan moment for quantum instead? A sudden event that has unforeseen, perhaps negative, consequences? The answer is that such a crisisisapproaching. We dont know precisely when it will hit, but we do know what it is and what will happen if we fail to prepare for it.

It is the threat to the global economy to banking, ecommerce, supply chains, government systems, and everyday communications that will arrive when quantum computing, or an emulation of it, can reliably and swiftly break the public-key encryption that underpins our secure transactions and communications.

In a forceful session entitled Quantums Black Swan at the World Economic Forum in Davos last week, Jack Hidary, CEO of quantum sensor provider SandboxAQ, urged much greater urgency in building quantum-safe systems and post-quantum security than is normal at industry events.

He said:

Let's say we want to build a tunnel under a river. We don't just start from one side and keep going; we start from both sides and meet in the middle. So, by analogy, the hardware folks IBM is doing an incredible job of advancing the superconducting quantum computing methodology, for example are digging from one side. But the algo [algorithm] people are digging from the other.

What has happened recently is that, in paper after paper, we've seen that the number of qubits we need to crack RSA is coming down. So, the two sides will meet faster and faster under the river to make this tunnel that breaks the banking system, that breaks the telco system, that breaks the energy system, and breaks government secrets.

So, is there any good news? Yes and no, he said. On the one hand, the US National Institute of Standards and Technology (NIST) and others have come together to create newpost-quantum cryptography protocols. These are still being sought, tested, and finalized.

But on the other, he explained:

[The bad news is] it takes seven or eight years for a bank or government to transition to a new protocol. So, what's very important right now is that we understand that this [the development of quantum technologies] does not work in a linear fashion.

On its own page onquantum-resistant cryptography, NIST says:

Historically, it has taken almost two decades to deploy our modern public key cryptography infrastructure.Therefore, regardless of whether we can estimate the exact time of the arrival of the quantum computing era, we must begin now to prepare our information security systems to be able to resist quantum computing.

In Davos, Hidary added:

People got surprised by Gen-AI, and what's going to happen here is the same thing. At some point, people are going to say, Wow, what a surprise, what a shock, that our cryptography is broken!

Certainly by 2029-30, we're going to see scaled, fault-tolerant quantum computers. But you might say, I need a certain number of qubits [to break encryption] today. But my prediction is that the number of qubits is going to come down.

Think about the brass prize of being able to decrypt everything in the world! This is a major issue. [] We have to act now.

So, there may be a global crisis conceivably as early as this decade unless organizations treat this foreseeable event as an urgent, real-world problem, and not as a long-term theoretical one. Less of a serene black swan, in fact, and more of a rampaging bear.

But was Hidary just trying to raise his own profile and using the World Economic Forum to do it? Perhaps, and he would not be the first. But it is equally possible that he has detected troubling signals amidst the industry noise.

The key issue (in every sense) is this: it is not as if the method for cracking RSA encryption, for example, is a secret. It just comes down to maths.

Peter Shor, a Professor of Applied Mathematics at MIT, proposed what became known as Shors Algorithm 30 years ago. This is a method for factoring semi-prime numbers on a quantum computer theoretical when he proposed it exponentially faster than on a classical device. (This is due to a qubits ability to superimpose multiple states, compared with the binary on or off of a classical bit.)

In this way, such an algorithm would, if run successfully, negate the security assumptions that underpin asymmetric cryptography. Namely that the timescales for running the required calculations on a classical computer billions of years to crack the minimal standard for secure encryption (RSA-2048) make it practically impossible. (The computation required grows exponentially larger with each digit in a sequence.)

By contrast, the only obstacles to using a quantum computer to run Shors algorithm or some evolution of it are the number of qubits (estimates range from one per bit all the way up to 20 million for cracking 2048-bit encryption), and the fact that their subatomic nature makes them noisy, and prone to error.

So, a quantum computer simply needs to be both powerful enough and fault tolerant, or self-correcting.

Most researchers believe that such an algorithm cant run at present; and certainly not for keys that have hundreds or thousands of digits. But it is purely a matter of time, though opinions differ as to whether that might be within a decade, a lifetime, or something closer to geological time.

But there is a problem, however. And that is: what if encryption is much closer to being cracked than most researchers believe?

Unsurprisingly, this is a matter of claim and counterclaim for anyone keen to make a name for themselves, or to spook rival governments. For example, a year ago, a group of Chinese researchers claimed that a 2048-bit RSA key could, theoretically, be broken by running the similarly named Schnorrs Algorithm on a quantum device of only a few hundred qubits.

That is troubling, given that the latest quantum hardware is up to the 1,000-qubit mark already, while smaller, more fault-tolerant devices exist too. However, others have claimed that this algorithm works well enough to crack, say, a 48-bit key, but cannot scale to much larger numbers. As a result, the computation would fail.

Meanwhile in November 2023,veteran researcher and Physics PhD Ed Gerck made a truly astonishing claim: that he had broken RSA-2048 encryption in seconds using quantum emulation on a cellphone, using an all states at once technique called simultaneous multifactor logic.

In the absence of formal publication of his research, or any peer-reviewed data, the security community remains deeply sceptical. Even so, the problem facing the industry is that even the most sensational or unlikely claims cant just be dismissed despite astronomer Carl Sagans aphorism that extraordinary claims require extraordinary evidence. The stakes are simply too high.

One reason is the possibility, however remote, that a researcher might have made a giant leap forward, or spotted a flaw in orthodox thinking; consider how Einsteins thought experiments a century ago transformed our picture of time, space, and gravity, for example.

Another is the phenomenon known as Store Now, Decrypt Later (SNDL): the awareness that any number of organizations, hackers, or hostile states will have been hording others encrypted data for decades, and are just waiting for the breakthrough that enables them to read it.

For this reason, Gerck urged authorities to retire RSA and implement quantum-safe standards as soon as possible. Even if his own claim proves to be bunkum, that sounds like sensible advice.

But the risk of a quantum computer breaking strong encryption is not the only black swan that might arise from the technology, or demand its urgent adoption. According to Hidary who was on a panel with Ana Paula Assis, EMEA Chair of the IBM Corporation, and Jol Mesot, President of ETH Zurich another black swan is already with us.

Quantum sensors are essential today, he explained, because of problems with the satellite-based GPS systems that we all use to navigate, plus the inaccuracy of others in the medical profession.

He said:

What if GPS is not available? Over huge swathes of the ocean right now in the Pacific Rim area, particularly near Taiwan, there is no GPS. And over huge swathes of the Middle East, GPS is not only being jammed, but being spoofed. Four planes went into Iranian airspace in the last four months, unintentionally. So, this is a major issue.

But we can use quantum sensors to detect the unique magnetic footprint of every square meter on earth, in the same way that birds and whales navigate.

Boeing and Airbus are among the aerospace companies that have been investing in quantum navigation and timing research in Boeings case, as far back as 2018.

Quantum sensors are also 24 months away from being approved for use in hospitals to monitor patients hearts more accurately, claimed Hidary, thus avoiding the problem of traditional sensors missing a defect. However, such devices demand AI running on a classical computer to pull the signal from the noise of the many other sources of electromagnetic radiation.

He explained:

The [magnetic] signal from a heart is very, very faint so faint that you need a quantum sensor to pick it up. But there is so much other noise, so much other information. If you have an iPhone, if you have a smartwatch, or any of the other magnetic signals in this room, it can confound that sensor. So, we have to pass it through a GPU into an AI model, trained on the data of what a heartbeat looks like.

This convergence of AI and quantum is what's happening now. We need to move into the quantum realm to understand our own bodies. First the heart. And then, of course, the brain.

While little of what Hidary said is new these issues have been known about, conceptually, for decades the force of his argument, and its delivery, was unusual. As a result, the possibility that these challenges might be more urgent than most researchers believe cannot be ignored.

Watch out for those black swans!

Link:
Quantum technology the black swans are gathering, claims start-up CEO - diginomica

Want to keep track of the largest startup funding deals in 2024 with our curated list of $100 million-plus venture deals to U.S.-based companies? Check out The Crunchbase Megadeals Board.

This is a weekly feature that runs down the weeks top 10 announced funding rounds in the U.S. Check out last weeks biggest funding rounds here.

The second full week of the new year got a big jolt near the end of it with Flexports huge raise. That round, combined with an even bigger raise by a quantum computing startup and along with a handful of $75 million rounds made it a pretty solid week.

1. Quantinuum, $300M, quantum: Quantinuum locked up a fresh $300 million equity fundraise at a pre-money valuation of $5 billion, as investors are clearly excited about the possibilities of quantum computing. The new funding was led by JPMorgan Chase. The Broomfield, Colorado-based company was spun out of Honeywell in 2021 and merged with Cambridge Quantum Computing. Quantinuum says it has now raised approximately $625 million. Last year, funding to quantum computing startups hit nearly $1.2 billion, per Crunchbase data. That number dwarfed the less than $800 million raised in 2022 making quantum one of the few sectors to see an increase in venture funding in 2023. While its too early to say venture funding will again increase in the sector this year, it is evident investors see the potential in both quantum technology and its ability to produce big financial returns.

2. Flexport, $260M, logistics: The news broke late Friday logistics giant Flexport is raising $260 million from partner and e-commerce titan Shopify after burning through hundreds of millions of dollars last year, per a report in The Information. The huge fundraising event is just the latest headline for the San Francisco-based startup that hit a peak valuation of $8 billion almost exactly two years ago after raising a massive $935 million round. Flexport and Shopify are no strangers to making deals with each other. Last May, Flexport announced the acquisition of the assets of Shopifys logistics business for a 13% equity interest in the private company. Shopify also gave Flexport a $40 million cash infusion as part of the deal, per The Information report. Of course, that was far from the only reason Flexport was in the news last year. In September, the big news hit that Flexports then-CEO Dave Clark was abruptly leaving the company after just a year and founder Ryan Petersen was coming back to take the reins as the company struggled with shipping volume declines after the pandemic boom. Flexport also made headlines in November after acquiring the assets of shuttered Jeff Bezos-backed digital freight startup network Convoy. Flexport had raised nearly $2.4 billion in equity and debt before the new Shopify round. Some of its noteworthy investors include Andreessen Horowitz, MSD Partners and the SoftBank Vision Fund.

3. (tied) Cleveland Diagnostics, $75M, biotech: There have not been a lot of big raises so far this year, but the few we have seen are usually related to biotech. Cleveland Diagnostics is the latest example, locking up a $75 million round led by Novo Holdings. The Cleveland-based biotech is developing diagnostic tests for the early detection of cancers and will use some of the new proceeds to grow the use of its novel IsoPSA prostate cancer test. Founded in 2013, the company has raised $111 million, per Crunchbase.

3. (tied) Comanche Biopharma, $75, biotech: Like we said, theres been several big rounds in biotech. Concord, Massachusetts-based Comanche Biopharma locked up a $75 million Series B led by New Enterprise Associates. The startup is looking at therapies for preeclampsia, a serious pregnancy complication that affects approximately 10 million women globally each year, according to the company. The issue can lead to complications for both the mother and the baby, including multiorgan damage and seizures. Founded in 2020, the company has raised $111 million, per Crunchbase.

3. (tied) DailyPay, $75M, fintech: Waiting for payday can be a drag. New York-based DailyPay just raised a fresh $175 million so you dont have to do that. The company partners with employers to allow employees to track, transfer, spend or save their pay as they earn it. The new round was made up of $100 million in an expanded credit facility and more than $75 million in equity financing led by Carrick Capital Partners. The round valued the company at $1.75 billion on a pre-money basis. Founded in 2015, the company has raised $1.2 billion, per Crunchbase.

3. (tied) Tr1X, $75M, biotech: We are not quite done with the big biotech raises yet. San Diego-based Tr1X popped out of stealth this week and announced a $75 million Series A led by The Column Group. The company is developing therapies for autoimmune and inflammatory diseases. Founded in 2018, this is the companys first round with a disclosed amount, per Crunchbase.

7. Digital Onboarding, $58M, SaaS: Boston-based Digital Onboarding, a customer relations platform for financial services, closed a $58 million investment from Volition Capital. Founded in 2015, the company has raised nearly $63 million, per Crunchbase.

8. Forta, $55M, health care: San Francisco-based Forta, which uses AI to help with access to quality care, raised a $55 million Series A led by Insight Partners. Founded in 2021, this is the companys first round with a disclosed amount, per Crunchbase.

9. Ratio Therapeutics, $50M, biotech: Boston-based Ratio Therapeutics, a pharmaceutical startup developing radiopharmaceuticals for the treatment and monitoring of cancers, closed a $50 million Series B from various investors including Bristol Myers Squibb. Founded in 2021, Ratio has raised more than $90 million, per the company.

10. SmartLabs, $48M, biotech: Boston-based SmartLabs, which provides laboratory infrastructure and resourcing as-a-service to companies, locked up a $48 million Series C from several investors including Conversion Venture Capital. Founded in 2015, the company has raised more than $400 million, per Crunchbase.

The biggest deal of the week came from the Red Dragon.

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the seven-day period of Jan. 13 to 19. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

Illustration: Dom Guzman

Clarification: This story has changed since its original publication to add Flexports $260 million raise.

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Continued here:
The Week's 10 Biggest Funding Rounds: Quantinuum And Flexport Lock Up Huge Rounds - Crunchbase News