PRESS RELEASE — Quantum Machines, creator of the first universal quantum computing cloud infrastructure, today 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.
The company did not release information on the size of the investment.
Quantum computing will unleash a computational revolution, producing computers far more advanced and powerful than any computing technology we have to date. The race towards quantum advantage is rapidly accelerating, with multi-billion dollar investments led by venture-capital funds, the industry’s largest computing corporations, and governments around the world.
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.”
SOURCE: Quantum Machines
QM’s full-stack Quantum Orchestration Platform enables an entirely new approach to controlling and operating quantum processors. Capable of running even the most complex algorithms – from near-term applications of quantum computers to challenges of quantum-error-correction – the Quantum Orchestration Platform allows users to realize the potential of all quantum processors right out of the box via its powerful, yet intuitive, programming language QUA.
About Qualcomm Ventures
Qualcomm Ventures, acting through Qualcomm Ventures LLC or its affiliated entities, has been making strategic investments in technology companies that have the potential to dramatically transform our world since 2000. As a global investor, we look to help entrepreneurs build revolutionary businesses that reshape the world around us. For more information please visit: www.qualcommventures.