Quantum Machines (QM), a leading company in advanced quantum control solutions, has announced a $170 million Series C funding round, bringing its total funding to date to $280 million. The investment, led by PSG Equity with participation from Intel Capital, Red Dot Capital Partners, and other investors, is one of the largest recorded in the quantum sector and reinforces QM’s position as a strategic partner to more than 50% of the companies developing quantum computers.
A Key Moment for Quantum Computing
The year 2024 marked a turning point in the quantum industry with significant advancements. Google introduced its Willow chip, which markedly improved hardware performance, while several companies surpassed the 1,000-qubit barrier, solidifying sector growth. Furthermore, strides were made in quantum error correction, a crucial aspect for the viability of these systems at scale.
In this context, Quantum Machines has played a central role in the evolution of quantum computing, providing key infrastructure to develop quantum computers with tens of thousands of qubits.
“The quantum computing ecosystem has evolved rapidly, and now hundreds of teams are working in parallel at the forefront of innovation,” said Dr. Itamar Sivan, co-founder and CEO of Quantum Machines. “Significant adoption of quantum computing is closer than many think. We are honored to work with the leaders in this field, providing the essential infrastructure to make this technological advance possible.”
Quantum Control as a Decisive Factor
The great challenge in quantum computing is not just developing quantum processors but turning them into functional systems. In this aspect, QM’s hybrid control technology is crucial, as it allows for the smooth execution of complex calculations on any type of quantum computer, efficiently integrating classical and quantum operations.
“Transforming a quantum processor into a functional computer is an immense challenge,” explained Dr. Yonatan Cohen, co-founder and CTO of Quantum Machines. “It is necessary to precisely control the quantum system, process large volumes of data in real-time, and coordinate algorithms between quantum and classical processors. Our platform unifies all these capabilities, enabling companies to bring their innovations from the lab to data centers faster than ever.”
This versatility has driven the adoption of Quantum Machines in the market, solidifying its position as a key player. An example of this integration is its collaboration with NVIDIA DGX Quantum, which combines accelerated computing with real-time quantum control, reducing the time needed for lab breakthroughs to become practical applications.
Financial Backing for Accelerated Expansion
The exponential growth of the quantum sector has led strategic investors to support the expansion of Quantum Machines. PSG Equity, the lead investor in this funding round, highlighted QM’s role in the industry.
“Quantum computing is at a turning point, and we believe Quantum Machines has established itself as the go-to solution for leading companies developing quantum computers,” stated Rotem Shacham, director at PSG Equity. “As the market rapidly grows in the next decade, QM’s ability to work with multiple quantum technologies positions them as sector leaders.”
From Intel Capital, they also emphasized the importance of the investment. “Quantum control is fundamental to the future of computing, and QM has proven to be a key strategic partner. This investment will enable the acceleration of solutions that will facilitate global adoption of quantum computing.”
A Solid Business Model and a Vision for the Future
The CFO of Quantum Machines, Nir Ackerman, highlighted that this funding reflects the growth and robustness of the company’s business model.
“This investment is a testament to the strength of our model and our growth track record,” Ackerman stated. “With these funds, we are well-positioned to expand, innovate, and create long-term value for our partners and clients.”
Quantum Machines aims to utilize this funding to expand its team, strengthen its technology, and accelerate the development of new capabilities that will allow the quantum industry to scale efficiently and sustainably.
About Quantum Machines
Quantum Machines (QM) is a leading provider of quantum control solutions, driving the advancement of quantum computing through its Hybrid Control approach. Its platform optimizes the performance of quantum hardware by enabling seamless integration between quantum and classical operations, facilitating innovation and scalability.
About PSG Equity
PSG Equity is an investment firm specializing in technology and software, having backed over 150 companies in their growth and global expansion. With offices in Boston, Kansas City, London, Madrid, Paris, and Tel Aviv, PSG collaborates with management teams to capitalize on strategic opportunities and accelerate business development.
With this new funding, Quantum Machines strengthens its position in a highly competitive sector and prepares for the next major revolution in quantum computing.
Source: Press Release Quantum Machines