Quantum Corridor Closes $10 million Series A Raise

HAMMOND, IN, November 21, 2024 (Newswire.com) - Quantum Corridor Inc., a quantum-ready fiberoptic communications network connecting Chicago and Northwest Indiana, announced the close of its $10 million Series A round. The raise was funded by eight family offices and individual tech investors and brings Quantum Corridor's total funding to more than $27 million.

Formed in 2021 as a public-private partnership with the state of Indiana, Quantum Corridor was established to enable advanced tech innovators in Indiana and Illinois to exchange data nearly instantaneously and achieve frontline breakthroughs. Quantum Corridor was originally funded through a $4.0 million grant from Indiana's READI grant program and with the cooperation of the Indiana Department of Transportation and Northwest Indiana Forum. It closed its $17 million seed round in early 2023.

"The confidence of our investors matches the enthusiasm of researchers, private industry and defense leadership, all of which will come together on this network to reach human breakthroughs we cannot even yet fathom," said Quantum Corridor CEO Thomas P. Dakich.

Originating in Hammond, Ind., at the Digital Crossroads Data Center, Quantum Corridor's current network stretches 14 miles to Chicago's ORD10 Data Center at 350 Cermak. The $10 million Series A funds secure operations and immediate use toward the estimated $140 million expansion that will extend the network from Hammond to Crane Naval Surface Warfare Center and Crane West Gate in Southwest Indiana via West Lafayette and Indianapolis.

Additionally, Quantum Corridor is set up to utilize 263 miles of new and existing fiber-optic cable beneath the Indiana Toll Road to link data centers, quantum research facilities, life sciences and genome scientists and hyperscalers with industry-shattering speeds and throughput.

Along the network's route, Quantum Corridor will build necessary Quantum Commercialization Centers. These facilities will house entanglement nodes, which serve as relay points to ensure transmission efficiency. Quantum Commercialization Centers will also act as mini data centers, offering customers, researchers and students access to facilities to work and learn.

"Alongside partners that include Ciena, C1, Toshiba and others, Quantum Corridor is quantum key distribution- and post-quantum cryptography-ready today," said Quantum Corridor President and CTO Ryan Lafler. "With a quantum-safe environment, we are now ready to expand south toward the numerous world-class academic research institutions, financial and pharmaceutical giants and defense hubs that are ready to link onto Quantum Corridor to compute and network."

Visit www.quantumcorridor.com for more information.

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About Quantum Corridor Inc.
Quantum Corridor Inc. was formed by Chicago-area technology innovators to drive tech infrastructure to Indiana and create an information-sharing platform for institutions such as Chicago Quantum Exchange, defense contractors, research hubs and universities. It is a member of the Bloch Tech Hub, a coalition of industry, academic, government and nonprofit stakeholders led by Chicago Quantum Exchange, one of 31 U.S. Regional and Innovation Technology Hubs federally designated for quantum technologies. Quantum Corridor Inc. was named a Chicago Quantum Exchange member in 2024. Upon its completion, the Quantum Corridor network will be the nation's largest quantum computing superhighway. Visit www.quantumcorridor.com for more information.

View the original press release on newswire.com.

Source: Quantum Corridor