Quantum Machines adds Yaniv Stern to its Board along with raising $50m Series B funding led by Red Dot Capital Partners

– ISRAEL, Tel Aviv –  Quantum Machines, an Israeli startup that is building the classical hardware and software infrastructure to help run quantum machines, today announced a $50 million Series B investment round led by Red Dot Capital Partners alongside Exor, Claridge Israel, Samsung NEXT, Valor Equity Partners, Atreides Management, LP, as well as TLV Partners, Battery Ventures, 2i Ventures, and other existing investors.

Concurrent with the financing, Yaniv Stern, Managing Partner at Red Dot Capital Partners, will join the board of directors.

Quantum Machines intends to utilize the funding round to continue growing the already robust QOP, further the adoption of QUA, and release breakthrough technologies in the coming year. Additionally, the company plans to open offices in new countries to help grow the size of the team and target talented quantum developers around the globe.

“Quantum processors hold the potential for immense computational power, far beyond those of any classical processor we could ever develop, and they will impact each and every aspect of our lives,” said CEO, Dr. Itamar Sivan. “Given that we work with so many of the global leaders in the field, we are in an incredible position to make this happen sooner than ever believed possible. Our latest funding represents the largest ever investment in a non-full-stack quantum startup and is a major step forward towards implementing an effective cloud infrastructure for quantum computers.”

Focused on expansion, the company has also seen major growth over the past 12 months, tripling its interdisciplinary team of physicists and engineers based in IsraelFranceGermanyCanada, and the United States. QM’s customers are among the leaders in the industry, including multinational corporations, leading government laboratories, academic institutions, and startups at the forefront of quantum development.

“Despite the unprecedented challenges the world faced in 2020, we’ve had a year of remarkable achievements,” said co-founder, and CTO, Dr. Yonatan Cohen. “Quantum technology development is rapidly accelerating, and researchers require tools that can push their capabilities to the next level. Quantum Machines is focused on solving a critical bottleneck with quantum research and development, providing the best infrastructure capable of the most advanced algorithms and scaling at the rate of development.”

About Quantum Machines

QM’s full-stack Quantum Orchestration Platform enables an entirely new approach to control and operating quantum processors. Capable of running even the most complex algorithms – from near-term applications of quantum computers to challenges of quantum-error-correction – the Quantum Orchestration Platform allows users to realize the potential of all quantum processors right out of the box via its powerful, yet intuitive, programming language QUA.

For more information: https://www.quantum-machines.co/

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