QuantumSi Raising $50M

QuantumSi appear to be raising $50M.

The company is making somewhere in the region of $4M a year, and burning ~$100M. Revenue is increasing, but when you’re burning so much money, for small market this doesn’t seem like it should be too challenging.

At the end of last year they had $209.6M in cash. Another $50M will only cover what they’ve burned between then and now. Meaning they still have ~2 years runway.

I assume the bulk of their spend will go toward the development of their new optical protein sequencing platform - Proteus.

They appear to be contracting out most of the production level design work, with the optical modules going to IDEX. And other components going to Planet Innovation.