Quantum Machines, a Tel Aviv, Israel-based company that is developing the next generation of operations systems and controls for quantum computers, has raised $5.5 million in seed funding led by TLV Partners with participation from Battery Ventures.
Founded by three physics Ph.D.s Drs. Itamar Sivan, Yonatan Cohen and Nissim Ofek, Quantum Machines to build hardware and software that allows organizations across industries to build on technology with quantum processors.
Quantum computers are able to solve computing problems much quicker than traditional technology. Quantum Machines will sell its technology to companies now developing quantum processors such as the largest Internet companies in the world along with academic organizations.
“We are on a mission to revolutionize computing,” said Sivan — who is also CEO of the company. “We are tackling huge technological and scientific challenges with relevance in sectors ranging from transportation to medicine to artificial intelligence. The power of quantum computers stems from their complexity and richness, though it is also this complexity which makes them incredibly difficult to control and operate—which is the problem our company is attempting to solve.”
The three founders have worked on a range of quantum technologies such as superconducting qubits, nano-wires, quantum optics, atomic clocks, etc. And Sivan and Cohen (Quantum Machines CTO) previously founded and managed the entrepreneurship center of the Weizmann Institute, which is one of the most renowned research institutes in Israel.
In conjunction with the funding, TLV Partners managing partner Rona Segev is joining the board at Quantum. Battery Ventures general partner Itzik Parnafes is also joining the board of directors at the company.
With this funding round, Quantum Machines is going to develop its first system called OPERATOR-X. And the company is working with leading quantum-computing groups across the globe.
Trending on Pulse 2.0
- These Former Bain Executives Are Raising $400 Million For A New Hedge Fund Called 325 Capital
- Kopari Beauty Raises $20 Million
- Adobe To Partner With Microsoft-Accenture Joint Venture Avanade
- Ebix’s $337.8 Million Acquisition Of Yatra: Details About The Deal You Should Know About
- Robot-Assisted Dental Surgery Platform Company Neocis Raises $30 Million