Quantum Machines (QM), a pioneering force in advanced quantum control solutions, has announced a substantial $170 million Series C funding round, elevating its total funding to $280 million. This highly oversubscribed investment was spearheaded by PSG Equity, with participation from Intel Capital, Red Dot Capital Partners, and existing investors, representing one of the quantum industry’s largest funding rounds to date.
The investment comes at a pivotal moment in quantum computing development. Throughout 2024, the industry has witnessed remarkable advancements: Google’s Willow chip demonstrated significant performance enhancements, multiple companies joined IBM in surpassing the 1,000-qubit threshold, and researchers made considerable progress in quantum error correction implementation, led by Google’s groundbreaking work.
At the center of many of these industry breakthroughs stands Quantum Machines. The company plans to leverage this new funding to accelerate the development of quantum computers capable of operating with tens of thousands of qubits. QM’s hybrid control technology enables seamless execution of demanding computational requirements across all quantum computer types, which has driven its widespread adoption by a majority of quantum computing companies worldwide.
“The quantum computing ecosystem has opened up with hundreds of teams worldwide advancing the bleeding edge in parallel,” notes Dr. Itamar Sivan, co-founder and CEO of Quantum Machines. “Significant adoption of quantum computers is around the corner. Quantum is one of the biggest, most important technological races of our generation.“
QM’s collaboration with NVIDIA on DGX Quantum, which combines accelerated computing with real-time quantum control, is expected to further compress the timeline from breakthrough to practical quantum computing applications.
According to Dr. Yonatan Cohen, co-founder and CTO, the company’s platform uniquely integrates precise quantum system control, real-time data processing, and complex algorithm orchestration across quantum and classical processors.
Rotem Shacham, Director at PSG Equity, expressed confidence in QM’s position: “The quantum computing industry is reaching an inflection point. QM has established itself as the ‘go-to’ solution that leading quantum companies rely on to build and scale quantum computers.“
