Quantum Machines raises US$170 million in Series C
Quantum Machines Ltd. (Tel Aviv, Israel), a provider of quantum control solutions, has raised $170 million in Series C funding, bringing the company’s total funding to date to $280 million.
The company also claimed that the majority of quantum computing companies are now using its control technology in their systems.
The funding round was led by PSG Equity, with participation from Intel Capital, Red Dot Capital Partners, and existing investors.
“The quantum computing ecosystem has opened up and there are now hundreds of teams worldwide advancing the bleeding edge in parallel, with breakthroughs emerging at an unprecedented pace,” said Itamar Sivan, co-founder and CEO of Quantum Machines, in a statement.
“Turning a quantum processor into a functional quantum computer is an immense technical challenge,” said Yonatan Cohen, co-founder and CTO of Quantum Machines. “You need to precisely control the quantum system, process huge amounts of data in real time, and orchestrate complex algorithms across quantum and classical processors. Our platform uniquely integrates all these capabilities, enabling teams to rapidly go from innovations in their laboratories to deployment in data centers.”
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