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Quantum Machines, an Israeli quantum computing startup, has successfully raised $170 million in a Series C funding round. This latest investment brings the company's total funding to $280 million to date. The funding round was led by PSG Equity, with participation from Intel Capital, Red Dot Capital Partners, and existing investors. Quantum Machines is a provider of quantum control solutions, and its technology is increasingly relied upon by quantum computing companies to build and scale their systems.

This Series C raise is considered the fifth-largest ever for a quantum computing company, highlighting the growing excitement surrounding advancements in quantum computing. According to Quantum Machines co-founder and Chief Executive Itamar Sivan, investors recognize the potential of a new computing paradigm to drive industry and the economy. Quantum Machines plans to use the new capital to further develop its quantum computing systems and expand its market reach in a time where many companies are surpassing 1,000 qubits, and researchers are making progress in quantum error correction.

ImgSrc: insidehpc.com

References :

• insidehpc.com: Quantum Machines Raises $170M Series C
• OODAloop: Startup Quantum Machines Raises $170 Million in Series C Round
• SiliconANGLE: Quantum hardware startup Quantum Machines raises $170M in funding

Classification:

• HashTags: #QuantumComputing #QuantumHardware #QuantumMachines
• Company: Quantum Machines
• Target: Quantum Computing Companies
• Product: Quantum Control Systems
• Feature: Quantum Control
• Type: Research
• Severity: Informative