Quantum Source, a Rehovot, Israel-based company developing photonic quantum computers, raised $12M in funding.
The round was led by Dell Technologies Capital with participation from 10D and existing investors Eclipse VC, Grove Ventures, and Pitango First.
The company intends to use the funds to expand the research and development team as they scale to reach technical and performance milestones.
Led by Oded Melamed, CEO, Quantum Source is developing technology to enable the efficient implementation of large scale, fault-tolerant, photonic quantum computers that scale to millions of qubits and that will have the potential to free acceleration in numerous fields that include drug design, material development, cybersecurity, and the processing of large datasets for AI applications. Photonic quantum computing is a type of quantum computing that uses photons as a representation of qubits.
Quantum Source is led by four co-founders: CEO Oded Melamed; VP of R&D, Gil Semo; Chief Scientist Prof. Barak Dayan; and Chairman Dan Charash.
FinSMEs
19/04/2023