Processor-based quantum controller startup Quantum Machines has raised $170 million in an oversubscribed Series C funding round.

Led by PSG Equity with participation from Intel Capital, Red Dot Capital Partners, and existing investors, it brings the total raised by the company to $280 million.

Founded in 2018 by Dr. Itamar Sivan, Dr. Yonatan Cohen, and Dr. Nissim Ofek, Quantum Machines develops hybrid control and operation systems for all types of quantum computers. Headquartered in Tel Aviv, Israel, the company also has locations in Denmark, Germany, and France, and claims that its customer base now exceeds 50 percent of the companies developing quantum computers globally.

In June 2024, the company launched the Israeli Quantum Computing Center (IQCC) at Tel Aviv University. Part-funded by the Israel Innovation Authority, the center is reportedly the first in the world to house multiple colocated quantum computers of different qubit types from different vendors.

“Turning a quantum processor into a functional quantum computer is an immense technical challenge,” said Dr. Yonatan Cohen, co-founder and CTO of Quantum Machines. “You need to precisely control the quantum system, process huge amounts of data in real time, and orchestrate complex algorithms across quantum and classical processors. Our platform uniquely integrates all these capabilities, enabling teams to rapidly go from innovations in their laboratories to deployment in data centers.”

Dr. Itamar Sivan, co-founder and CEO of Quantum Machines, added: “The quantum computing ecosystem has opened up and there are now hundreds of teams worldwide advancing the bleeding edge in parallel, with breakthroughs emerging at an unprecedented pace… we are deeply honored to work with the leaders in this field, delivering the core infrastructure to make this possible.”