Israel’s Quantum Machines (QM), a hardware and software solution for quantum computers, took another step towards its goal of global distribution and expansion to quantum cloud computing by closing a $ 50 million Series B funding round, the company announced Monday.
Red Dot Capital Partners led this round, with the participation of Exor, Claridge Israel, Samsung NEXT, Valor Equity Partners and Atreides Management LP. They were joined by TLV Partners, Battery Ventures, 2i Ventures, a subsidiary of Altshuler Shaham, as well as other existing investors.
The company aims to use the funds to launch more innovative technologies and has a plan to open offices in new countries.
Founded in 2018 by Dr. Itamar Sivan, Dr. Yonatan Cohen, and Dr. Nissim Ofe, Quantum Machines has developed an orchestration platform that makes it perfect for harnessing the potential of all quantum processors. QM has established itself as a leading provider of control and orchestration systems for quantum computing in enterprises and research centers with a customer base now spanning 15 countries.
In early 2021, Israel’s Quantum Machines were selected as the US business magazine. Quick companiony’s most innovative companies in the Europe / Middle East / Africa category. The magazine recognized that quantum computing is the next frontier. The company launched its universal standard QUA language for quantum computers, which it launched in 2020. The company’s new language now allows researchers and scientists around the world to write programs for various quantum computers with a unified code, which can be run on any quantum. computer in the world of any kind.
“Quantum processors have the potential for immense computational power, far beyond that of any classical processor we could develop, and will affect each and every aspect of our lives,” said Dr. Sivan, CEO of Quantum. Machines. “Since we work with many of the world’s leaders in the field, we are in an incredible position to make this happen sooner than was ever thought possible.
“Our latest funding represents the largest investment ever made in a non-full-stack quantum startup and is a major step toward implementing an effective cloud infrastructure for quantum computers,” he added.
Despite the challenges of 2020 and 2021, Quantum Machines has had a year of “remarkable accomplishments,” according to Cohen, the company’s co-founder and chief technology officer.
“The development of quantum technology is accelerating rapidly and researchers need tools that can take 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 pace of development, “he said.