Sep 7, 2021

Quantum Machines secures $50mn in Series B round

quantumcomputing
Cloud
funding
Quantum Machines has announced it has secured $50 million in Series B funding to expand its growth into quantum cloud computing

The creators of the Quantum Orchestration Platform will also use the funding to drive its worldwide distribution.

This latest round was led by Red Dot Capital Partners.

"Quantum processors hold the potential for immense computational power, far beyond those of any classical processor we could ever develop, and they will impact each and every aspect of our lives," said Dr. Itamar Sivan, CEO of Quantum Machines

"Given that we work with so many of the global leaders in the field, we are in an incredible position to make this happen sooner than ever believed possible. Our latest funding represents the largest ever investment in a non-full-stack quantum startup and is a major step forward towards implementing an effective cloud infrastructure for quantum computers," he continued.

Quantum Machine’s full-stack Quantum Orchestration Platform enables an entirely new approach to controlling and operating quantum processors. It allows users to realize the potential of all quantum processors right out of the box via its powerful, yet intuitive, programming language QUA.

Developing a revolutionary orchestration platform

Founded in 2018, the Quantum Machines team had the vision to bring about useful quantum computers. 

In the three years since its founding, Quantum Machines has developed a revolutionary orchestration platform that makes it seamless to realize the potential of all quantum processors. 

The company has been able to establish itself as the leading provider of control and orchestration systems for quantum computing across companies and research centres. 

Its customer base also now spans 15 countries.

"Despite the unprecedented challenges the world faced in 2020, we've had a year of remarkable achievements," said Dr. Yonatan Cohen, co-founder, and CTO of Quantum Machines. 

He added: "Quantum technology development is rapidly accelerating, and researchers require tools that can push 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 rate of development."

Developing breakthrough technologies with new funding

Lending itself to the ‘remarkable achievements’ of the company is the major growth it has experienced over the past 12 months.

Quantum Machines has tripled its interdisciplinary team of physicists and engineers based in Israel, France, Germany, Canada and the United States.

The company also attracts customers who are among the leaders in the industry. This includes multinational corporations, leading government laboratories, academic institutions, and startups at the forefront of quantum development.

To add to its found success and develop further, Quantum Machines will utilise the funding round to continue growing the already robust QOP, further the adoption of QUA, and release breakthrough technologies in the coming year. 

Furthermore, the company plans to open offices in new countries to help grow the size of the team and target talented quantum developers around the globe.

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Laura Berrill
Digital Transformation