Quantum Machines Secures $170M in Series C Funding Boost

Deal News | Feb 25, 2025 | Qualcomm Ventures LLC

Quantum Machines Secures $170M in Series C Funding Boost

Quantum Machines, an Israeli quantum computing startup, has raised $170 million in its Series C funding round. This significant round was led by PSG Equity, with participation from Intel Capital, Red Dot Capital Partners, and existing investors. Quantum Machines, co-founded by Dr. Itamar Sivan, Dr. Yonatan Cohen, and Dr. Nissim Ofek, develops quantum control solutions used by over half of the quantum computing companies globally. The startup's clientele includes large corporations, startups, national labs, and universities. Its hardware assists partners like Nvidia in reducing errors in quantum computing research. The successful funding round comes amid a burgeoning interest in quantum computing despite past skepticism. The company has previously raised around $93 million with backing from investors like Valor Equity Partners and Qualcomm Ventures. Although the valuation was not disclosed, it was confirmed that this round brought a significant increase in value. This fundraising comes at a time when other startups in the quantum computing field have also attracted substantial investments, pointing towards a renewed optimism regarding the development and eventual utility of quantum computing technologies.

Sectors

  • Quantum Computing
  • Venture Capital

Geography

  • Israel – Quantum Machines, the startup discussed in the article, is based in Israel.
  • United States – Several investors such as Intel Capital are based in the United States, contributing to the international funding aspect of the article.

Industry

  • Quantum Computing – This industry is relevant as the article discusses the funding of Quantum Machines, a company operating in the quantum computing space.
  • Venture Capital – The industry pertains to the funding activities led by PSG Equity and other investors for Quantum Machines.

Financials

  • $170,000,000 – The amount raised by Quantum Machines in its Series C funding round.
  • $93,000,000 – The amount previously raised by Quantum Machines before the Series C round.

Participants

NameRoleTypeDescription
Quantum MachinesTarget CompanyCompanyAn Israeli startup providing quantum control solutions to the quantum computing industry.
PSG EquityLead InvestorCompanyLed the $170 million Series C funding round for Quantum Machines.
Intel CapitalInvestorCompanyParticipated in the Series C funding round for Quantum Machines.
Qualcomm VenturesInvestorCompanyA notable backer from previous funding rounds of Quantum Machines.
Dr. Itamar SivanCEO and Co-founderPersonCEO and co-founder of Quantum Machines.
Dr. Yonatan CohenCTO and Co-founderPersonCTO and co-founder of Quantum Machines.
Dr. Nissim OfekChief Engineer and Co-founderPersonChief engineer and co-founder of Quantum Machines.