Quantum Machines raises $170M to accelerate adoption of quantum computing

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Quantum Machines has raised $170 million in funding to accelerate adoption of quantum computing and improve its advanced quantum control solutions. The third round of funding brings the company’s capital raised to date to $280 million. The investment comes as the majority of quantum computing companies now rely on QM’s technology to build and scale their systems. The oversubscribed round was led by PSG Equity with participation from Intel Capital, Red Dot Capital Partners and existing investors. It marks one of the largest rounds of funding in the quantum industry. 2024 has marked a watershed moment in quantum computing, with breakthrough achievements across the industry laying down fundamental building blocks: Google’s Willow chip demonstrated a strong performance enhancement at the hardware level, multiple companies joined IBM in surpassing 1,000 qubits, ... Read full article.