• Thu. Mar 30th, 2023

Quantum Machines Adds $20 Million in Funding, Brings Total to $100 Million


Jan 20, 2023

Insider Temporary

  • Quantum Machines introduced that it has raised one other $20 million in funding, bringing the corporate’s whole funding to $100 million.
  • The Israel-based firm additionally introduced its options are being utilized in greater than 280 quantum computing amenities worldwide.
  • These prospects embody cloud suppliers, analysis labs, nationwide facilities, and high-performance computing (HPC) facilities.

PRESS RELEASE — Quantum Machines, the supplier of breakthrough quantum management options that speed up the conclusion of sensible quantum computer systems, introduced at the moment that its buyer base has grown sharply over the previous 12 months, reaching greater than 280 quantum computing amenities worldwide. Moreover, the corporate introduced that it has raised one other $20 million in funding, bringing the corporate’s whole funding to $100M. The spherical included participation from new and current traders.

The quantum computing business continues to make regular progress, bolstered by the exponential development in private and non-private funding, which reached $35.5 billion by 2022 in line with the World Financial Discussion board. Whereas there are nonetheless open questions as to the structure of future quantum computer systems, we’re edging nearer to the conclusion of sensible quantum computing use instances.

Quantum Machines is uniquely positioned within the quantum computing area, with superior quantum management know-how that shall be on the core of future quantum information facilities but offers tangible worth at the moment. The corporate’s answer can management a variety of qubit sorts, and prospects sometimes see a greater than 100x speedup of quantum workloads when integrating it with their current {hardware}.

This has led to the widespread adoption of Quantum Machines’ know-how, which is now utilized by over 280 prospects in 23 international locations, powering a big portion of the quantum computer systems operated by cloud suppliers, analysis labs, nationwide facilities, and high-performance computing (HPC) facilities.

“Companies and governments all over the world see the disruptive potential of quantum computer systems,” stated Itamar Sivan, co-founder and CEO of Quantum Machines. “They’re investing closely at the moment to place their organizations and international locations on the forefront of the quantum computing revolution. Their mindset is evident — shedding isn’t an possibility. Quantum Machines’ answer helps them get extra out of their quantum funding at the moment, whereas our scalable and versatile structure ensures their quantum infrastructure is future-proof and shall be appropriate with the quantum applied sciences of tomorrow.”

Quantum Machines had a breakout 12 months in 2022, reaching various vital milestones, together with:

  • Experiencing a speedy development in prospects to greater than 280 worldwide
  • Featured in 30 Quantum Computing analysis papers
  • Grew its staff to over 140 globally
  • Moreover, the corporate introduced various vital achievements in the course of the course of 2022, together with:
  • Chosen to guide the institution of the Israel Quantum Computing Middle along with a consortium of worldwide firms. The middle would be the first on the earth to deal with a number of varieties of quantum processing unit programs beneath one roof.
  • Acquired Danish quantum computing agency QDevil, whose merchandise and experience complement Quantum Machines’ quantum management {hardware} and software program, enabling the corporate to supply an entire answer from gate-level to qubit.
  • Partnership with Toyota Tsusho to supply Japanese prospects entry to superior quantum management options.
  • Partnership with main European universities, analysis establishments, and corporations on the €5m EuRyQa undertaking to advance Impartial Atom quantum computing.
  • Released new Pulse Processing Unit (PPU) Hadamard. The unit sits on the coronary heart of the agency’s OPX {hardware} and permits the orchestration of superior quantum computing algorithms and quantum error correction in real-time.

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