Quantum Source, a technology startup for efficient quantum computing, has raised $50 million in a Series A funding round. The funding round was led by Eclipse, with participation from Standard Investments, Standard VC, Canon Equity, as well as Other existing investors include Pitango First, Grove Ventures, 10D, and Dell Technologies Capital. This round brings Quantum Source’s total capital raised to $77 million.
Quantum Source was founded in 2021 by semiconductor industry veterans and serial entrepreneurs Oded Melamed (CEO), Gil Semo (VP R&D), Dan Charash (Chairman), and Professor Barak Dayan (Senior Scientist), a leading scientist the world of quantum optics.
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Quantum Source’s (left) Dan Charash, Chairman, Oded Melamed, CEO, Gil Semo, VP R&D, Shlomit Semel, VP HR, Prof. Barak Dayan, Senior Scientist.
(Rami Zarnegar)
Quantum computing is a fundamental change in computing, with the potential to greatly accelerate technological advances in drug design, product development, cyber security, and more. Large-scale, fault-tolerant quantum computers with millions of qubits are critical to unlocking the power of quantum computing but have yet to reach commercial potential. Quantum Source has adopted a new approach that utilizes single atoms trapped in a photonic chip to allow photon generation and synthesis. According to the company, this results in four orders of magnitude better efficiency than other implementations.
Quantum Source currently employs 45 people at the Ness Ziona Science Park, with more than half holding PhDs in physics, mathematics, or electronic engineering. Six professors also support the company’s work on a temporary basis. Last year, the company announced a $12M seed round led by Dell Technologies Capital, bringing the total to $27M, and welcomed former Israeli Prime Minister Naftali Bennett to its Board of Directors.
In an interview with Calcalist, Melamed noted that “recruitment is very difficult for us, as we need to find candidates with the right academic background and professional skills on the global map of quantum computing.”
Melamed explained that Quantum Source’s approach is different from most other accounting firms. “We are focusing on the photonic method, which offers a unique way to build quantum computers at a low cost. Our goal is to build a quantum computer based on this technology before the end of the decade,” he said. However, he cautioned that this is not an overnight process. “We are conducting an extensive investigation to hit key milestones, but there is still a lot of work to be done in terms of optimization and mitigation.”
Quantum photonic computing has recently gained attention thanks to two major deals: the Australian government pledged nearly $620 million to implement a quantum computer, and the state of Illinois in the United States announced an investment of $500 million. and in the same way.
Although it is the most promising path, current photonic quantum technologies face challenges, including the inefficiency of producing individual photons and their synthesis. A photonic quantum computer with a million qubits would require an area the size of a football field and use as much energy as a small city. Quantum Source technology directly addresses these challenges.
“The latest wave of government investment, which has poured hundreds of millions of dollars into the development of photonic quantum computers, is a recognition of the potential and promise of this technology,” Bennett said. “Quantum Source Solutions plays an important role in this revolution. , and I am honored to be a part of this legacy journey.”
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