Quantum Machines raises major funding as over half of quantum computing companies rely on its tech.
Quantum Machines (QM), a company specialising in technology that controls quantum computers, has secured $170M in an oversubscribed Series C funding round. This brings its total funding to $280M. The round was led by PSG Equity, with additional backing from Intel Capital, Red Dot Capital Partners, and existing investors. Today, more than half of quantum computing companies depend on QM’s technology, cementing its role as a key player in the industry.
The investment comes at a time when quantum computing is experiencing rapid advancements. In 2024, Google’s Willow chip showcased major performance improvements, IBM and other companies surpassed the 1,000-qubit milestone, and researchers made significant progress in quantum error correction. QM plans to leverage this funding to drive the development of even larger quantum computers, targeting systems with tens of thousands of FV.
Powering the next wave of quantum computing breakthroughs
Building a quantum computer requires more than just powerful chips—it demands a sophisticated control system. QM’s hybrid control platform bridges quantum and classical computing, enabling researchers to execute complex programs more efficiently. This innovation is helping scientists transition from theoretical discoveries to fully functional quantum systems.
“Turning a quantum processor into a functional quantum computer is an immense technical challenge,” said Dr Itamar Sivan, co-founder and CEO of Quantum Machines. “You need to precisely control the quantum system, process huge amounts of data in real time, and orchestrate complex algorithms across quantum and classical processors. Our platform uniquely integrates all these capabilities, enabling teams to rapidly go from innovations in their laboratories to deployment in data centres.”
QM is also collaborating with NVIDIA on DGX Quantum, a system that merges high-speed classical computing with real-time quantum control, accelerating progress toward practical quantum computing.
Computing the origins of Quantum Machines
QM was founded by Dr Itamar Sivan, Dr Yonatan Cohen, and Nissim Ofek. Dr Sivan and Dr Cohen first met while studying physics in Israel where they also met Ofek, an expert in high-performance computing. Their goal was to solve a major challenge—making it easier for researchers to control and scale quantum computers.
Traditional computing infrastructure struggles to handle the unique requirements of quantum processors, creating significant barriers for researchers. QM developed a solution that enables seamless control, optimisation, and expansion of quantum systems, addressing a critical gap in the field.
Strong investor confidence in Quantum Machines
As the quantum computer industry grows, QM’s latest funding round highlights strong investor confidence in the company’s leadership and technology.
“The quantum computing industry is reaching an inflection point,” said Rotem Shacham, Director at PSG Equity. “We believe that QM has established itself as the ‘go-to’ solution that leading quantum companies rely on to build and scale quantum computers. As the quantum computing market continues to grow at an accelerated pace this decade, QM’s leading market position and ability to work with multiple quantum technologies uniquely position them to expand their leadership. We are excited to lead this funding round and back QM in its next stage of growth.”
Nir Ackerman, CFO at QM, added that the funding will fuel the company’s expansion. “This significant investment is a testament to the strength of our business model and growth trajectory. With this funding, we believe that we are well-positioned to accelerate our expansion, drive innovation, and create long-term value for our stakeholders. We are excited to build on this momentum and execute on our vision with the support of our investors.”
What’s next for Quantum Machines?
With fresh capital in hand, QM plans to enhance its technology, expand its team, and forge new partnerships within the quantum computing ecosystem. It aims to maintain its competitive edge by continuously refining its hybrid computing platform.
Quantum computing is edging closer to widespread application, and QM is at the forefront of this transformation. With its technology already deployed by leading quantum research initiatives, the company is well-positioned to shape the future of quantum computing.
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