Quantum Machines, an Israeli startup that provides quantum control solutions to other professionals in the relevant area, raised $170 million.
The mentioned startup received the specified money as part of a Series C funding round. This fundraiser was led by PSG Equity. Intel Capital, Red Dot Capital Partners, and existing investors also participated in the relevant process. The mentioned funding round is one of the largest for companies operating in the area of quantum computing, as of today.
One of the reasons for the significant scale of the specified fundraising is what can be called the funnel business of the startup. Quantum Machines’ chief executive officer Dr. Itamar Sivan, who co-founded the company with chief technology officer Dr. Yonatan Cohen and chief engineer Dr. Nissim Ofek, stated that the technology developed by this firm is currently used by more than half of all brands in the world working on quantum computers and quantum computing technology.
The head of the company, during a conversation with media representatives, noted that Quantum Machines serves all categories of brands in the quantum development area.
Quantum Machines’ hardware is a kind of subject of interest for customers and partners such as Nvidia. In this case, it means those companies that want to reduce the number of errors in their research in the quantum computing sector.
It’s worth noting that researchers are currently approaching building functional, ultrafast quantum computers that do not fall due to high failure rates.
As we have reported earlier, Together AI Raises $305 Million.
