Israeli quantum computing start-up gets $50m boost in Series B funding

7 Sep 2021

Image: © Siarhei/Stock.adobe.com

Quantum Machines will use the funds to push its Quantum Orchestration Platform for use in experiments and to continue its global expansion.

Israeli start-up Quantum Machines has received $50m in Series B funding to expand its technology in quantum cloud computing and to help with the worldwide distribution of its services.

Quantum Machines was founded in 2018 with the goal of creating “useful quantum computers”. Its Quantum Orchestration Platform is central to this. This is a software and hardware platform designed to perform complex quantum algorithms and experiments for other companies.

The company currently provides quantum computing tech for companies and research centres in 15 different countries.

The funding round was led by Red Dot Capital Partners with participation from others such as Exor, Claridge Israel and Valor Equity Partners.

“Quantum processors hold the potential for immense computational power, far beyond those of any classical processor we could ever develop, and they will impact each and every aspect of our lives,” said Dr Itamar Sivan, CEO of Quantum Machines.

“Given that we work with so many of the global leaders in the field, we are in an incredible position to make this happen sooner than ever believed possible. Our latest funding represents the largest ever investment in a non-full-stack quantum start-up and is a major step forward towards implementing an effective cloud infrastructure for quantum computers.”

Quantum Machines said that it will use the money to continue growing its Quantum Orchestration Platform, releasing new technologies and furthering the adoption of its QUA programming language.

It also intends to open offices in new countries around the world in order to grow the size of its team. It already has physicists and engineers based across Israel, France, Germany, Canada and the US.

Dr Yonatan Cohen, co-founder and CTO of Quantum Machines, said: “Despite the unprecedented challenges the world faced in 2020, we’ve had a year of remarkable achievements.

“Quantum technology development is rapidly accelerating, and researchers require tools that can push their capabilities to the next level. Quantum Machines is focused on solving a critical bottleneck with quantum research and development, providing the best infrastructure capable of the most advanced algorithms and scaling at the rate of development.”

Sam Cox is a journalist at Silicon Republic covering sci-tech news

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