Quantum Machines (QM) has secured $170 million in Series C funding, bringing its total funding to $280 million.
The VC funding round, led by PSG Equity with participation from Intel Capital, Red Dot Capital Partners, and existing investors, is one of the largest in the quantum industry. Most quantum computing companies now rely on QM’s technology for system development and scaling.
2024 has been a landmark year for quantum computing, with breakthroughs such as Google’s Willow chip showing hardware-level enhancements, multiple companies exceeding 1,000 qubits, and significant progress in quantum error correction. QM is at the forefront of these advancements and plans to use the funding to drive the development of quantum computers with tens of thousands of qubits.
CEO Dr. Itamar Sivan highlighted the rapid advancements in quantum computing, emphasizing that widespread adoption is imminent. He described quantum computing as one of the most important technological races of this generation, with QM playing a crucial role in enabling industry leaders.
QM’s hybrid control technology allows seamless execution of complex computational requirements across various quantum computing platforms. This adaptability has driven its widespread adoption. The company’s work with NVIDIA DGX Quantum, integrating accelerated computing with real-time quantum control, is helping accelerate the path to practical quantum computers.
CTO Dr. Yonatan Cohen explained the challenge of turning a quantum processor into a functional computer, requiring precise control, real-time data processing, and algorithm orchestration across quantum and classical processors. QM’s platform integrates these capabilities, allowing teams to move quickly from lab innovation to real-world deployment.
PSG Equity’s Rotem Shacham noted that QM has become the preferred solution for leading quantum companies and is well-positioned to maintain its leadership as the industry rapidly expands. The firm led the funding round to support QM’s next phase of growth.
CFO Nir Ackerman stated that the investment validates QM’s business model and growth trajectory. With this funding, the company aims to accelerate expansion, drive innovation, and create long-term value for stakeholders.
InfotechLead.com News Desk
