Here’s a list of today’s tech funding stories, updated as the day unfolds. Tip us here if you have a deal to share.
500 Startups raises $85M fund, but fell short of expected cash
500 Startups closed a $85 million investment fund. The Wall Street Journal reported that the fundraising fell short by $15 million of what Dave McClure originally intended to raise.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":1797419,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,entrepreneur,","session":"B"}']“It wasn’t an easy road,” McClure told the newspaper.
More: The Wall Street Journal
AI Weekly
The must-read newsletter for AI and Big Data industry written by Khari Johnson, Kyle Wiggers, and Seth Colaner.
Included with VentureBeat Insider and VentureBeat VIP memberships.
Intel pledges $50M in quantum computing push to solve big problems
Intel today announced plans to invest $50 million over the next ten years as part of a quantum computing push to help solve problems such as “large-scale financial analysis and more effective drug development.”
But despite the ambitions and huge cost of the project, company vice president Mike Mayberry admits that “a fully functioning quantum computer is at least a dozen years away.”
The money will be channeled through QuTech (the quantum research institute at Delft University of Technology) and TNO, with Intel additionally pledging to commit its own “engineering resources” to the collaborative effort.
This list will be updated with breaking funding news all day. Check back for more.
[aditude-amp id="medium1" targeting='{"env":"staging","page_type":"article","post_id":1797419,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,entrepreneur,","session":"B"}']
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More