Israeli Startup Secures $170 Million Investment to Advance Quantum Computing
Quantum Machines, an Israeli startup specializing in quantum computing control systems, has successfully raised $170 million in a recent funding round. This significant investment was led by PSG Equity, with participation from Intel Capital, Red Dot Capital Partners, and existing investors, bringing the company’s total funding to $280 million.
Founded in 2018 by Dr. Itamar Sivan, Dr. Yonatan Cohen, and Dr. Nissim Ofek, Quantum Machines develops hardware and software solutions designed to operate, control, and manage quantum processors. These processors are essential for realizing the potential of quantum computers, which promise to tackle complex problems beyond the capabilities of classical computers. The company’s technology platform is capable of identifying and correcting errors within quantum systems in real-time, a critical feature for the practical application of quantum computing.
Quantum computing holds the promise of revolutionizing various fields by providing unprecedented computational power. Potential applications include simulating natural materials in chemistry, enhancing cryptography, optimizing financial models, and improving supply chain logistics. Despite uncertainties regarding the timeline for widespread commercial adoption, recent advancements by major technology companies have intensified interest and investment in the sector.
Quantum Machines’ products are designed to integrate seamlessly with various types of quantum processors and are currently utilized by numerous companies, including Nvidia. The startup plans to use the newly acquired funds to further develop its technology, support more powerful quantum computers, and expand its team by hiring approximately 100 additional employees. The company currently operates offices in Israel, Denmark, and Germany, with plans to establish two more offices in undisclosed locations by the end of 2025.
Many of the pioneers of quantum mechanics—including Albert Einstein, Niels Bohr, and Richard Feynman—were of Jewish heritage, and their groundbreaking work laid the foundation for modern quantum physics. Today, Israel, often referred to as the “Startup Nation,” continues this tradition by leading advancements in this field.