Quantum Machines raises $170M, says it’s working with more than half of all quantum computing companies

Quantum computing remains a holy grail in the world of technology, but with some important breakthroughs in the last several months, investors are betting on the more promising startups in the space to make the concept of super-efficient particle- and electron-based computing a reality. In the latest development, Quantum Machines, an Israeli startup that provides quantum control solutions to others in the field, has raised $170 million. Led by PSG Equity with participation from Intel Capital, Red Dot Capital Partners and existing investors, this all-equity Series C round is one of the biggest to date for a quantum computing company. One reason for the size of the round is because of the startup’s business funnel. Quantum Machines’ technology is now used by more than half of all the companies in the world working on quantum computers and quantum computing, according to Dr. Itamar Sivan, the CEO who co-founded the company with CTO Dr. Yonatan Cohen and chief engineer Dr. Nissim Ofek. ... Read full article.