TEL AVIV (Reuters) - Israel's Quantum Machines, which developed hardware and software for the operation of quantum computers, said on Thursday it has raised $17.5 million in early stage funding.
The round was led by entrepreneur Avigdor Willenz and Harel Insurance investments (TA:HARL) with the participation of previous backers TLV Partners and Battery Ventures.
Quantum Machines earlier this year launched its Quantum Orchestration Platform, which gives researchers and development teams tools to run complex quantum algorithms and experiments.
Founded in 2018, the company has nearly 30 employees - more than half of them physicists.
"The race to commercial quantum computers is one of the most exciting technological challenges of our generation," said Willenz, who in December sold his company Habana Labs to Intel Corp (NASDAQ:INTC) for $2 billion. Willenz also sold companies to Marvell, Amazon (NASDAQ:AMZN) and Cisco (NASDAQ:CSCO).