Quantum Machines Raises $170 Million in Series C Funding
Deal News | Feb 25, 2025 | Battery Ventures
Quantum Machines, an Israeli quantum computing startup, has raised $170 million in a series C funding round, one of the largest fundraisings in the quantum computing sector. The round, led by PSG Equity and joined by Intel Capital, Red Dot Capital Partners, and existing investors, highlights growing enthusiasm for quantum technology. With its total funding reaching $280 million, Quantum Machines aims to advance its quantum computing control systems, which currently serve diverse sectors, including government labs and academic institutions. The startup's initiatives align with global trends, especially after key developments in quantum hardware by firms like Microsoft and Google. Quantum Machines, which plans to expand its workforce by 100 by the end of 2025, is focused on integrating its products with various quantum processors. Founder and CEO Itamar Sivan emphasizes the monumental potential of computing breakthroughs in driving the future economy. Intel Capital marked its inaugural quantum investment with Quantum Machines, reflecting an industry shift from uncertain timelines to assured inevitability.
Sectors
- Quantum Computing
- Venture Capital
Geography
- Israel – Quantum Machines is an Israeli startup, with its headquarters and significant operational activities based in Israel.
- United States – Several participating investors, such as PSG Equity and Intel Capital, are based in the United States, reflecting the international investment interest in Quantum Machines.
Industry
- Quantum Computing – The article focuses on Quantum Machines, a startup operating in the quantum computing sector, highlighting its funding success and the growing interest in quantum technologies.
- Venture Capital – The article discusses the Series C funding round led by PSG Equity and details investor activities in the venture capital space around quantum computing.
Financials
- 170 million USD – The amount raised by Quantum Machines in their Series C funding round.
- 280 million USD – Total funding raised by Quantum Machines to date following the Series C round.
- 624.6 million USD – The largest individual investment in a quantum computing company, PsiQuantum, in 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Quantum Machines | Target company | Company | An Israeli startup specializing in control systems for quantum computers, providing hardware and software solutions. |
| PSG Equity | Lead investor in Series C round | Company | A private equity firm that led the $170 million investment round in Quantum Machines. |
| Intel Capital | Investor | Company | The corporate venture capital arm of Intel Corporation, making its first investment in quantum computing with Quantum Machines. |
| Red Dot Capital Partners | Investor | Company | A venture capital firm participating in the Quantum Machines funding round. |
| Itamar Sivan | Co-founder and Chief Executive | Person | Co-founder and CEO of Quantum Machines, responsible for overseeing the company's strategy and operations. |
| PitchBook Data | Data provider | Company | Provided data regarding the largest quantum computing investments. |
| Israel Innovation Authority | Partner | Government | Partnered with Quantum Machines in the Israeli Quantum Computing Center project. |
| Microsoft | Industry peer | Company | Mentioned as one of the companies announcing hardware advancements in quantum computing. |
| Industry peer | Company | Mentioned as one of the companies announcing hardware advancements in quantum computing. |