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As quantum technology is on the rise, this Tel Aviv startup raises $50M for expansion

Quantum Machines
Image credits: Quantum Machines

Quantum technology development is rapidly expediting, and researchers require tools to push their aptitudes to the next level. Tel Aviv-based Quantum Machines, the creator of the Quantum Orchestration Platform, is focused on solving a critical bottleneck with quantum research and development.

Funding to fuel expansion

Recently, Quantum Computers secured $50 million in a Series B funding round led by Red Dot Capital Partners. Further, Exor, Valor Equity Partners, Claridge Israel, Samsung NEXT, Battery Ventures, Atreides Management LP, and joined by TLV Partners, 2i Ventures, an affiliate of Altshuler Shaham and existing investors also participated.

The Israeli company will utilize the funds to expand its growth into quantum cloud computing and drive its worldwide distribution. It intends to utilize the funds to continue growing the already robust QOP, further adopting QUA, and releasing breakthrough technologies in the coming year.

Focused on expansion, the startup has also seen significant success over the past 12 months, tripling its team based in Israel, Germany, France, Canada, and the United States. Also, it plans to open offices in new countries across the globe.

Besides the investment, Yaniv Stern, Managing Partner at Red Dot Capital Partners joined Quantum Machines’ board of directors.

Quantum Machines was founded in 2018 by Yonatan Cohen, Nissim Ofek and Itamar Sivan to bring about helpful quantum computers and has a customer base now crossing 15 countries

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