This is the largest funding that has occurred so far for non-full stack companies (i.e. companies that don’t build a full quantum computer) in the quantum space. Along with previous seed and Series A rounds this brings total funding for Quantum Machines to about $73 million. This round was led by Red Dot Capital Partners with the participation of Exor, Claridge Israel, Samsung NEXT, Valor Equity Partners, Atreides Management LP, and joined by TLV Partners, Battery Ventures, Altshuler Shaham as well as other existing investors. Yaniv Stern, Managing Partner at Red Dot Capital Partners, will join Quantum Machines’ board of directors.
Quantum Machines is headquartered in Tel Aviv, Israel and provides a quantum control hardware and software platform called the Quantum Orchestration Platform which is hardware agnostic and can support a number of different modalities including superconducting, trapped ion, quantum dots, NV centers, and others. They also provide a programming language called QUA which allows a user to develop pulse level programs to control the qubits. In 2020, the company announced a partnership with Australian company Q-CTRL to integrate Q-CTRLS qubit control software technology into Quantum Machine’s Quantum Orchestration Platform. Quantum Machines indicates it has customers in 15 different countries including startups, large companies, government labs and universities. Earlier this year, they announced they are working with five European institutions on a project called QuCoS to research error correction using Schrödinger cat states. They will use the new funds to continue development of their products, hire additional talent, and open additional offices in new countries.
For additional information, you can view Quantum Machines press release announced this financing located here.
September 6, 2021