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Classiq’s Series B funding now up to $49M

By Dan O'Shea posted 21 Sep 2022

Quantum computing software firm Classiq continues to add dollars to the Series B round it announced earlier this year, saying this week that the round has expanded from $36 million to $49 million with an investment from Canadian-Israeli venture capital firm Awz Ventures.

Classiq’s total funding raised now stands at more than $60 million, including and Series A round that was announced back in early 2021. IQT News contacted Classiq to inquire about the exact amount of total funding, and this story will be updated with any new information gained.

The increase comes after Classiq already increased its Series B round to $36 million after first saying in February 2022 that it had raised $33 million. Italian bank Intesa Sanpaolo was announced as an investor last May, and though the amount was not specified at that time, it now appears to have been around $3 million.

Awz joins other Series B round participants such as the venture arms of Hewlett Packard Enterprise and Samsung, Israeli insurance giant Phoenix, and Stanford University alumni investor group Spike Ventures, among others.

The new funding comes as Classiq also has announced the opening new offices in Europe and Japan, and is planning to double its R&D workforce from 50 to 100 employees by next year.

Classiq also has partnered with many companies and institutions over the last several months, including Nvidia, Amazon, ColdQuanta, and the Chicago Quantum Exchange.

Dan O’Shea has covered telecommunications and related topics including semiconductors, sensors, retail systems, digital payments and quantum computing/technology for over 25 years.

Categories: quantum computing

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