Quantum Machines Raises $50M in Series B Funding

Quantum Machines

Quantum Machines, a Tel Aviv, Israel-based company which specializes in quantum processors, raised $50M in Series A funding.

The round was led by Red Dot Capital Partners with participation from Exor, Claridge Israel, Samsung NEXT, Valor Equity Partners, Atreides Management LP, TLV Partners, Battery Ventures, and 2i Ventures. Yaniv Stern, Managing Partner at Red Dot Capital Partners, will join Quantum Machines’ board of directors.

The company intends to use the funds to continue growing its Quantum Orchestration Platform, further the adoption of QUA, its programming language, and release new technologies in the coming year.

Founded in 2018 and led by Dr. Itamar Sivan, CEO, and Dr. Yonatan Cohen, CTO, Quantum Machines provides a Quantum Orchestration Platform that enables companies to control and operate quantum processors. The advanced capabilities and infrastructure enable researchers to manage complex algorithms necessary for tackling the most advanced challenges facing quantum computing, including quantum error correction, multi-qubit calibrations, and more. The platform is used by a customer base now spanning 15 countries, including multinational corporations, leading government laboratories, academic institutions, and startups at the forefront of quantum development. The company recently partnered with Nvidia to create a state-of-the-art architecture for quantum-classical computing.