Quantum Machines Announces $50 Million Series B investment

(TechCrunch) Quantum Machines, an Israeli startup that is building the classical hardware and software infrastructure to help run quantum machines, has announced a $50 million Series B investment.
Today’s round was led by Red Dot Capital Partners with help from Exor, Claridge Israel, Samsung NEXT, Valor Equity Partners, Atreides Management, LP, as well as TLV Partners, Battery Ventures, 2i Ventures and other existing investors. The company has now raised approximately $83 million, according to Crunchbase data.
The company has created a system that relies on classical computers to power quantum computers as they develop. While the company has designed its own silicon for this purpose, it is important to note that it is not building quantum chips. As Sivan explains, the classical computer has a software and hardware layer, but quantum machines have three layers: “The quantum hardware, which is the heart, and on top of that you have classical hardware […] and then on top of that you have software,” he said.
“We focus on the two latter layers. So classical hardware and the software that drives it. Now at the heart of our hardware is in fact a classical processor. So this is I think one of the most interesting parts of the quantum stack,” he explained.