Insurance group Harel has co-led a $17.5m funding round for Israel-based quantum computing technology startup Quantum Machines with entrepreneur Avigdor Willenz.
Venture capital firm TLV Partners and technology investment firm Battery Ventures also participated in the round. TLV Partners had previously led a $5.5m seed round for the company in November 2018 that also featured Battery Ventures.
Quantum Machines’ technology revolves around its Quantum Orchestration Platform, and in particular a modular hardware system called the OPX which can control large quantum processors when used in multiples, managing complex quantum experiments and algorithms.
Itamar Sivan, co-founder and chief executive of Quantum Machines, said: “We have been fortunate to assemble a team of all-star researchers and scientists working on the greatest challenges of quantum computing.
“Their prowess is evident in the lead that QM has taken as the only company to develop Quantum Orchestration. Quantum technology will decisively shape our future and this new investment will ensure that QM remains at the centre of these exciting advancements.”
