Israeli Quantum Computing Startup ClassiQ has landed $110 million in Series C funding. This is the largest quantum software company ever. The latest round totals $173 million since its launch five years ago.
The round is led by Main Dish Capital and includes a new investor mix from Norwest, Nightdragon, Hamilton Lane, Clal, Neva Sgr, Phoenix, Team8, Venture, Wing, HSBC, Samsung Next, and Qbeat.
The company says fresh capital will help customers compete in the market, succeed and expand their R&D teams as demand for quantum solutions begins to grow beyond academic labs. It also plans to broaden its international presence and deepen its involvement in the national quantum efforts. This suggests that Classiq wants a front row seating as it forms the next chapter of the industry.
Classiq raises $110 million backed by Samsung, HSBC and Microsoft Partners
Founded in 2020 by NIR MINERBI (CEO), Yehuda Naveh (CTO), and Amir Naveh (Chief Product Officer), ClassiQ is a platform provider that makes it easy for developers to create quantum applications without the need for a PhD. In physics. Its high-level development environment handles heavy lifting (compiler, IDE, operating system), allowing users to focus on the building rather than competing for QUBIT.
Since its launch, the company has said it has tripled both its customer base and revenue each year. Big names already using Classiq’s platform include BMW, Citi, Deloitte, Mizuho and Toshiba. The startup works with Microsoft, Nvidia, AWS, and several universities.
“We’re building Microsoft for quantum computing,” said CEO Nir Minerbi. “We provide the essential software stack for developing real-world quantum applications.”
Quantum computing, which has long been seen as science fiction, is gaining more attention as big players like Google, Microsoft, Cisco, Amazon and more flaunt their hardware efforts. Nvidia recently unveiled its own quantum lab. Meanwhile, startups like Psiquantum are gathering serious cash to build next-generation systems.
Classiq is not trying to win races to build quantum machines. The software layer bets that, if not, the software layer is just as valuable. And this latest funding round has pushed us to become a standard development platform for industry, government and academia.
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