(PRNewswire) Quantum Machines has announced an investment from Qualcomm Ventures LLC. The investment in Quantum Machines is the first by Qualcomm Ventures in the Quantum Computing space and is an extension of the company’s Series B round announced earlier this year.
Since its founding, Quantum Machines has established itself as the leading provider of control and operation systems for quantum computing across companies and research centers. Over the past few years, the company has developed a full-stack Quantum Orchestration Platform, with the combined software and hardware solution enabling an entirely new approach to controlling and operating quantum processors.
Qualcomm Ventures invests in companies focused on 5G, Artificial Intelligence, Automotive, IoT, Consumer and Enterprise and Cloud. Qualcomm Ventures has over 150 portfolio companies in its portfolio and manages over $1.5 billion in assets across the United States, China, India, Israel, Europe, Latin America, and Korea.
“When we look towards the future, we believe Quantum Computing will be an important technology that redefines many industries such as AI, Cybersecurity and Cloud,” said Boaz Peer, Senior Investment Director, Qualcomm Ventures Europe and Israel at Qualcomm Israel Ltd. “We’re excited to invest in Quantum Machines to help drive the Quantum Computing revolution forward.”
“It’s always very important to find the right investors who are aligned with our goals,” said Dr. Itamar Sivan, Co-founder and CEO of Quantum Machines. “We’re very proud to be working with Qualcomm Ventures as we believe their desire to push boundaries and commitment to innovation matches our drive to transform and advance the quantum computing industry.”