INGATE

From The Sip Trunking Experts

TMCNet:  British Columbia Discovery Fund Provides Lead Order of $2 Million as D-Wave Systems, Inc. Completes $30 Million Equity Raise

[November 14, 2012]

British Columbia Discovery Fund Provides Lead Order of $2 Million as D-Wave Systems, Inc. Completes $30 Million Equity Raise

VANCOUVER, BRITISH COLUMBIA, Nov 14, 2012 (Marketwire via COMTEX) -- British Columbia Discovery Fund (VCC) Inc. is very pleased to announce that it has invested $2.0 million in D-Wave Systems, Inc. as the lead order that initiated a $30 million round of equity funding for D-Wave. Bezos Expeditions and In-Q-Tel (IQT) have also joined the investment round. Bezos Expeditions is the personal investment company of Jeff Bezos, the founder and CEO of Amazon.com, Inc. IQT is the strategic investment firm that delivers innovative technology solutions in support of the missions of the U.S. intelligence community.


"We are pleased to have attracted such highly regarded investors to our company," stated Vern Brownell, CEO of D-Wave. "Jeff Bezos and In-Q-Tel are well-known visionaries. Both understand the implications of quantum computing as a world changing force, and these investments affirm their belief in D-Wave's unique approach to quantum computing. We want to thank BC Discovery Fund for providing the lead order and negotiating the terms under which we could complete this round. With these funds, we are accelerating our trajectory, putting this technology and its applications into the hands of users." BC Discovery Fund, Bezos Expeditions and IQT join current D-Wave investors, including Business Development Bank of Canada, Draper Fisher Jurvetson, Goldman Sachs, Growthworks, Harris & Harris Group, International Investment and Underwriting, and Kensington Partners Limited.

D-Wave will use the new funding to augment its commercial operations and further increase its capabilities to provide solutions to its customers. This added capital allows D-Wave to pursue its growth strategy with the intention of making a difference to their customers' mission objectives. Those objectives are central to D-Wave technological innovation and quantum computing applications development. "Our Intelligence Community customers have many complex problems that tax classical computing architecture," stated Robert Ames, Vice President in charge of Information and Communication Technologies at IQT. "We believe our customers can benefit from the promise of quantum computing, and this investment in D-Wave is a first step in that direction." "Having achieved its first sale in 2011, D-Wave offers the first quantum computing system on the market," said Charles Cook, CFO of the Fund. "As a later stage investment of the Fund, we were attracted to D-Wave's strong pipeline of potential customers and investors, and we believe that D-Wave is on the brink of significant commercial success." About D-Wave Systems Inc.

Founded in 1999, D-Wave's mission is to integrate new discoveries in physics and computer science into breakthrough new approaches to computation. The company's flagship product, the D-Wave One(TM), is built around a novel type of superconducting processor that uses quantum mechanics to massively accelerate computation. In 2010 Lockheed Martin purchased serial number 1, completing the historic world's first sale of a commercial quantum computer. With headquarters near Vancouver, Canada, its U.S. offices, as well as its superconducting chip foundry, are located in Silicon Valley. D-Wave has a blue-chip investor base including Business Development Bank of Canada, Draper Fisher Jurvetson, Goldman Sachs, Growthworks, Harris & Harris Group, International Investment and Underwriting, Kensington Partners Limited. Gartner Group analysts named D-Wave 2012 Cool Vendor in High-Performance Computing and Extreme-Low-Energy Servers.

About British Columbia Discovery Fund (VCC) Inc.

British Columbia Discovery Fund (VCC) Inc. was established to make venture capital investments in a portfolio of small businesses in British Columbia that qualify under the Small Business Venture Capital Act, focusing on all of B.C.'s top internationally recognized technology clusters: information technology (software and hardware); mobile technology (wireless and networking solutions); clean technology (alternative energy and energy-saving technology solutions); new media; and health and life sciences.

Established in 2002 and managed by Discovery Capital Management Corp., the Fund is focussed on making diversified investments in British Columbia with the objectives of achieving long-term capital appreciation for its shareholders and contributing to the growth in value and employment of the technology industry in British Columbia. In addition to offering a means of participating in the potential of British Columbia's newest technology ventures, the Fund offers significant tax savings to eligible British Columbia individual and corporate investors. The Fund, which offers its shares on a continuous basis, has raised approximately $75 million to date and has active investments in twelve developing technology companies. To obtain further information about the Fund, please contact a registered advisor or visit www.sedar.com or www.bcdiscoveryfund.com.

John McEwen, CEO, B.C. Discovery Fund (VCC) Inc.

Harry Jaako, President, B.C. Discovery Fund (VCC) Inc.

This press release is not an offer to sell or a solicitation of an offer to buy common shares. This press release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. The issuer cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what the issuer currently foresees.

FOR FURTHER INFORMATION PLEASE CONTACT: British Columbia Discovery Fund (VCC) Inc. Todd Riley Sales & Marketing Director (604) 683-3000 ext. 115 (604) 662-3457 (FAX) info@discoverycapital.com www.bcdiscoveryfund.com SOURCE: British Columbia Discovery Fund (VCC) Inc.

[ Back To SIP Trunking Home's Homepage ]

Loading
Subscribe here for your FREE
SIP TRUNKING enewslettter.

Featured Partner


Featured Whitepapers

SIP Security for the Enterprise
Voice over IP (VoIP) is incorporated into a variety of computer networks, both public and private, and used for everyday transactions and communications among carriers, businesses, government agencies...

Making A Broadband Purchase Decision
Businesses today have many options for broadband connectivity. Clarifying your particular business needs prior to selecting a broadband provider will ensure an optimal match of broadband service to your requirements.

Voice-Optimized Network Delivers Premier Call Experience
Customers equate call quality with business quality. Real-time communication, interpersonal interaction, and the cordial tone of a call center representative can create a positive impression of your business that no email can match.

Featured Case Studies

Business Telecom Expenses Reduced 50%
A small to medium sized company in the midwest was interested in migrating to IP Communications, but in today's economy, they were hesitant to upgrade their communication system due to their perception that the cost would outweigh the benefits.

Multi-State Company Cuts Telecom Costs 50%
A multi-site, multi-state company with extensive monthly long distance fees and toll-free charges did not have adequate broadband for Broadvox SIP Trunking requirements, nor did they have a SIP enabled telephone system.

Discover Leisure Connects Remote Users to its IP-PBX
Discover Leisure is one of the largest resellers of caravans and motor homes in the UK. With 15 branch of?ces all over the country, the company spent a great deal of money every month just on internal phone calls.

Featured eBOOKS

Internet+: The Way Toward Global Unified Communication
Connecting the telephony of the enterprise PBX or Unified Communications (UC) system using SIP trunks instead of conventional telephone lines has been very successful in recent years.

What is SIP Trunking? Edition 2
SIP trunking is becoming more of a focus for service providers. One key issue many service providers face when deploying SIP trunks is NAT, or Network Address Translation, traversal.

What is SIP Trunking? Edition 1
A vast resource for information about all things SIP - including SIP, security, VoIP, SIP trunking and Unified Communications.

Featured Videos

Broadvox VAR Testimonial VAR 1:
Part 1 of the VAR (Value Added Reseller) Partner Program Testimonials for Broadvox...

E-SBCs AS The Demarcation Point:
Ingate's Steve Johnson talks to Erik Linask about the role session border controller plays as the demarcation point at...

Demystifying DPI
How can deep packet inspection protect your SIP traffic as well as your entire network?

Featured Resources

Partner Program Overview:
Over 4,000 VARs, Master Agents, Solution Providers, and Independent IT Professionals trust Broadvox. We offer customized services and solutions to fit seamlessly into any company's business model. And when you partner with Broadvox, every member of our team stands behind you and your customers 100%...

SIP Trunk UC Summit

What's New

Presenting the New Ingate/Intertex Website:
Internet+ is an extended Internet access allowing high quality SIP (Session Initiation Protocol) based real-time person-to-person communication, everywhere and for any application. It applies to both fixed and mobile networks ...

Featured Blogs

Featured Webinars

Secure SIP Trunking:
What You Need to Know

Successfully Deploying Enterprise SIP Trunking:
Tools and Techniques for Overcoming Common Roadblocks

Featured Podcasts

Getting the Most Out of Your SIP Trunks:
Ingate's Steve Johnson and TMC's Erik Linask discuss how best practices forgetting the most out of SIP Trunking services and common pitfalls to avoid.

Featured Datasheets

Ingate SIParator E-SBCs
Adopting SIP is a simple process with the Ingate SIParator, the secure enterprise session border controller (E-SBC). The SIParator makes secure SIP communications - including VoIP,SIP trunking and more - possible while working seamlessly with your existing network firewall.

Ingate Firewalls
Everyone is talking about enterprise usage of VoIP, instant messaging and other types of realtime communications including presence and conferencing.

SIP Trunk Solutions for Service Providers
The award-winning Ingate Firewall and Ingate SIParator deliver a high quality, reliable SIP trunk connection between the customer's IP-PBX and the service provider network, and solve interoperability issues to simplify deployments and support for remote diagnosis of reported issues.