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College Park startup raises $55 million from investors with ties to Samsung, UAE

A College Park-based startup working to bring the world’s most powerful quantum computer to market has secured $55 million in Series C venture funding.

IonQ Inc.’s newest round was led by the Samsung Catalyst Fund, a venture arm of Samsung Electronics, and Mubadala Capital, backed by the government of the United Arab Emirates. They join IonQ’s impressive list of existing backers, which includes New Enterprise Associates, Amazon Web Services and GV, the venture arm of Google parent Alphabet Inc. Other participants in this round included ACME Capital, Airbus Ventures, Hewlett Packard Pathfinder, Tao Capital Partners, Correlation Ventures and A&E Investment LLC, as well as previous investors.

This round brings IonQ’s total amount raised to $77 million.

CEO Peter Chapman said IonQ plans to use the new funding to continuing expanding the capabilities of its quantum computing technology, as well as making the tech commercially available through the cloud. IonQ will also use some funds to…

Read the full story from the Washington Business Journal.

Parents of former Maryland football player killed in 2024 car crash start foundation in his honor

COLLEGE PARK, Md. (AP) — The parents of former Maryland football player Isaiah Hazel have launched a foundation in his memory after he was killed in a car crash two years ago. At a launch event on campus, the Isaiah Lee Hazel Foundation awarded its first Isaiah Lee Hazel Memorial Scholarship to walk-on defensive lineman Joshua Simmons to help cover meal expenses during the school year.
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