• Thu. Jan 20th ,2022

Quantum Machines set to expand infrastructure with $50m investment

By   Rini Dalvi

Date: Sep 06, 2021
samsungs-ekg-equipped-galaxy-watch-devices-to-enter-31-more-countries

Quantum Machines, an Israel-based startup, has reportedly raised $50 million in its Series B funding round. The company seemingly focuses on building the classical software and hardware infrastructure to support the workings of quantum machines.

As per reliable sources, Samsung NEXT, Claridge Israel, Red Dot Capital Partners with help from Exor, Valor Equity Partners, Atreides Management, LP, as well as TLV Partners, Battery Ventures, and 2i Ventures, along with other existing investors, led the funding round. With this round, Quantum Machines has evidently raised approximately $83 million to date.

For the uninitiated, Quantum Machines has been building its infrastructure, dubbed The Quantum Orchestration Platform, to help power quantum machines. Itamar Sivan, co-founder and CEO of Quantum Machines, stated that quantum computers could potentially expedite substantial computations that are impossible to finish in a reasonable amount of time using classical computers, which has garnered most interest in the field currently.

Sivan further added that the company envisions making quantum computers disruptive and ubiquitous across all industries. In order to achieve this, the firm has apparently been creating a system that works on classical computers to run quantum computers as they advance.

It is worth noting that while the company has devised its proprietary silicon for this objective, it is not making quantum chips. Sivan explained that quantum hardware comprises three layers viz., the heart, above which is classical hardware and software respectively, and Quantum Machines focuses on the latter two.

Quantum Machines is building the classical cloud infrastructure that would help run quantum computers. Sivan reported that the company’s technology interests researchers, governments, universities, and hyper scaler operators.

The Israeli startup would use its Series B funds to validate its technology, allowing it to continue developing the solution, claim reliable sources. Additionally, the company would supposedly invest heavily in R&D activities that are vital since quantum computing is still in its nascent stages and would undergo significant development.

Source credit: https://techcrunch.com/2021/09/05/quantum-machines-plans-to-expand-quantum-orchestration-platform-with-50m-investment/

Rini Dalvi

Rini is a professional content writer with immense experience, and has written some fantastic technical and entertainment blogs. She completed her graduation in IT engineering, however, her zeal for writing engaging articles made her pick content development as a full-time career. She currently pens down articles for xyz.com. Her other interests include reading, dancing, and cooking.

Related Post

TSMC plans $44B investment to rattle Samsung’s 2030 foundry race goals

Sony planning to tackle PS5 shortage by making more PS4s in 2022

UK: Virgin and O2 users will not face roaming charges in EU this year