Quantum Machines plans to expand quantum orchestration platform with $50M investment.
Quantum Machines is an Israeli startup that assists in building classical hardware and software infrastructure. The particular infrastructure helps run the quantum machines, and the company has announced its $50 million series B investment today.
According to Crunchbase data, the company has raised an investment of approximately $83 million. The investors include Samsung, NEXT, Valor Equity Partners, Battery Ventures, 2i Ventures, Atreides Management, LP, and TLV partners.
Know About Quantum Computing:
Quantum computing is nothing but building the Quantum Orchestration Platform that helps in running the burgeoning quantum machines and leaving plenty of room to grow as the industry attains development. Quantum Machines is known for developing a nice niche by building hardware and software systems.
The co-founder and CEO-Itamar Sivan of Quantum Machines, states that he sees the vast potential of this particular technology in speeding up computations that are impossible to complete in fixed time by using classical computers.
He also states that their vision is to make quantum computers omnipresent in all industries. The company has created a system that helps in achieving the goal. The system is nothing but relies on classical computers to give them the power of quantum computers.
For this purpose, the company is designing its silicon rather than building quantum chips which is noteworthy. Sivan also explains that classical computers include a hardware and software layer, whereas quantum computers have three layers.
The three layers include the quantum hardware, which is the heart of the computer, and on top of that, you have the classical hardware and then the software. Sivan states that they are focusing on the two layers, the classical hardware and the software that drives it, as the heart of the hardware acts as a classical processor. He describes that it is the most exciting part of a quantum stack.
He further states that the interchange between classical computing and quantum computing is one of the fundamentals of technology. It is the everlasting technology in the future, and Quantum Machines are involved in building the classical cloud infrastructure, which is crucial to run quantum computers.
Achievement Of Quantum Machines:
Per the co-founder’s statement, the idea and approach work well. Sivan reports that government; researchers, universities, and other hyper scaler operators like Amazon, Netflix, and Google are all interested in quantum technology.
It is proud to say that the company has customers in 15 countries, and at present, they are in contact with large entities that couldn’t be named here for specific reasons.
The company utilizes the money to continue its work of building out the technological solution. Besides that, the company is also investing in various research and development processes that are crucial for the industry. The process is still in early development and will change over time.
Company Development:
Currently, the company includes sixty employees, and the new funding will enable them to build the team substantially in the upcoming years. His academic background helps in hiring qualified employees for his company.
He also states that the pandemic has allowed him to hire employees from anywhere, and he took advantage of the company’s development. Global hiring is the perspective of Sivan, and he means that actual diversity includes involving as many people as possible from various countries. He is following the strategy in his hiring process.
His hardware team was working even during the pandemic by following the safety measures, and most employees were continuing their work from home. The company allows work from home even post-pandemic as per the preference of the employees, which is the success formula of Quantum Machines.