Announcement made during the 75th Lindau Nobel Laureate Meeting highlights growing collaboration among Qolab, Nobel Laureate Dr. John Martinis and the University of California innovation ecosystem SANTA BARBARA, Calif., July 02, 2026 (GLOBE NEWSWIRE) -- Qolab Inc., a leader in quantum computing hardware, today announced the initial closings of its Series B Preferred Stock financing, which, together with the conversion of an aggregate of $12.6 million in convertible securities and a commitment for an aggregate of $10 million in future convertible securities, represents total funding of $54.2 million for the company. The round was led by UC Investments (the University of California Office of the Chief Investment Officer). The Series B Preferred Stock financing and prior convertible financing included participation from existing financial and strategic semiconductor investors including Wisconsin Alumni Research Foundation (WARF), Octave Ventures, and Phoenix Venture Partners. The announcement was made during the 75th Lindau Nobel Laureate Meeting, where Qolab co-founder and Chief Technology Officer Dr. John Martinis, recipient of the 2025 Nobel Prize in Physics, joined fellow Nobel Laureates, leading scientists and emerging researchers from around the world. The gathering provides a fitting backdrop for Qolab's next phase of growth at the intersection of breakthrough semiconductor manufacturing and quantum innovation. Among other things, the Series B Preferred Stock financing will support Qolab's continued development of scalable superconducting quantum computing technologies, expansion of strategic semiconductor collaborations, and acceleration of the company's target toward fault-tolerant quantum computing. "Quantum computing is entering a new era, where decades of scientific research are beginning to translate into technologies capable of addressing real-world challenges," said Martinis, also a distinguished professor at UC Santa Barbara. "This investment enables Qolab to accelerate development of scalable quantum systems while deepening our collaborations across the University of California ecosystem and the broader scientific community." The investment by