Quantum Machines Raises $170M Amid Quantum Computing Surge
Quantum Machines, an Israeli quantum computing startup, has secured $170 million in a Series C funding round, marking one of the industry’s largest investments. The funding round, led by PSG Equity, brings the company’s total investment to $280 million and values it at approximately $700 million.
Main investors included Red Dot Capital Partners, Intel Capital, TLV Partners, Battery Ventures, and Avigdor Willenz. The substantial funding highlights the increasing demand for quantum computing solutions and Quantum Machines’ pivotal role in advancing this technology.
Funding and Key Investors
Quantum Machines’ latest funding round was significantly oversubscribed, reflecting the growing confidence in its technology and market potential. The round was led by PSG Equity, with additional participation from major investors including:
– Red Dot Capital Partners
– Intel Capital
– TLV Partners (which led the seed round in 2018)
– Battery Ventures
– Avigdor Willenz
This funding will support the company’s efforts to expand its quantum computing infrastructure and accelerate innovation in the field.
Company Background and Leadership
Quantum Machines was founded in early 2018 by three leading physicists, all of whom hold PhDs in quantum computing and electronics:
– Dr. Itamar Sivan (CEO)
– Dr. Yonatan Cohen (Chief Technology Officer)
– Dr. Nissim Ofek (VP of R&D)
The founders conducted their research at the Weizmann Institute’s Submicron Center under the mentorship of Prof. Moty Heiblum. Today, the company employs 170 people, with half of the workforce in Israel and the rest spread across Denmark, Germany, Japan, the U.S., and other locations.
Innovative Quantum Computing Technology
Quantum Machines specializes in hybrid quantum control technology, allowing the execution of complex computational tasks across all types of quantum computers. This flexibility has positioned the company as a leader in the quantum computing space, with widespread adoption among key industry players.
One of the company’s notable partnerships is its collaboration with Nvidia to develop DGX Quantum, a system that combines Quantum Machines’ real-time quantum control with Nvidia’s high-speed computing capabilities. This synergy is driving advancements in practical quantum computing.
Establishment of the Israel Quantum Computing Center
In 2023, Quantum Machines launched the Israel Quantum Computing Center (IQCC) at Tel Aviv University. Developed in collaboration with Israel’s Innovation Authority, the research facility houses three quantum computers and offers extensive resources for academic researchers and R&D centers.
IQCC serves as an open research platform, fostering collaboration between academic institutions and private industry. By providing accessible quantum computing infrastructure, Israel is strengthening its position in the global quantum computing race.
The Future of Quantum Computing
With the rapid expansion of the quantum computing ecosystem, Quantum Machines continues to push the boundaries of innovation. Dr. Itamar Sivan, co-founder and CEO, emphasized the industry’s accelerating progress:
“The quantum computing ecosystem has expanded rapidly, with hundreds of teams worldwide pushing the boundaries in parallel. Breakthroughs are happening at an unprecedented pace, and widespread adoption of quantum computers is just around the corner. Quantum is one of the biggest and most important technological races of our generation, and we are honored to be at the forefront, delivering the core infrastructure to make it a reality.”
As quantum computing moves closer to mainstream application, Quantum Machines remains at the center of this revolutionary shift, making critical advancements that position it as a key player in the future of computing.