Quantum Source, a Ness Ziona, Israel-based company developing practical photonic quantum computers, raised $50M in Series A funding.
The round, which brought the total amount to $77M, was led by Eclipse, with participation from Standard Investments, Level VC, Canon Equity, as well as existing investors Pitango First, Grove Ventures, 10D, and Dell Technologies Capital.
The company intends to use the funds to enhance engineering capabilities and accelerate the commercialization of quantum solutions.
Founded in 2021 by Oded Melamed, Gil Semo, and Dan Charash, and Professor Barak Dayan, Quantum Source is developing a photonic quantum architecture for fault-tolerant, practical quantum computers that can scale to millions of qubits at a fraction of the complexity, footprint, power consumption, and cost of other implementations.
The company has 45 employees, more than half of whom hold PhDs.
FinSMEs
10/09/2024