A $50M Series A funding round was completed by Quantum Machines blockchain certik 230mmelinektechcrunch 88m series b3, a quantum processor firm with headquarters in Tel Aviv, Israel.
Exor, Claridge Israel, Samsung NEXT, Valor Equity Partners, Atreides Management LP, TLV Partners, Battery Ventures, and 2i Ventures also participated in the deal, which was led by Red Dot Capital Partners. The managing partner of Red Dot Capital Partners, Yaniv Stern, will be a member of the board of directors of Quantum Machines.
The money will be used by the business to expand its Quantum Orchestration Platform, promote the use of its programming language QUA, and introduce new technologies in the upcoming year.
The company Quantum Machines was established in 2018 under the direction of Dr. Itamar Sivan, CEO, and Dr. Yonatan Cohen, CTO, and offers a Quantum Orchestration Platform that enables businesses to manage and run quantum processors. Researchers can now develop the complicated algorithms required to take on the most difficult problems in quantum computing, such as multi-qubit calibrations and quantum error correction, thanks to the infrastructure and increased capabilities. A customer base that currently spans 15 nations uses the platform, including global enterprises, prestigious government laboratories, educational institutions, and startups at the vanguard of quantum research.
Israeli, French, German, Canadian, and American physicists and engineers make up the company’s multidisciplinary staff.