Quantum computing firm Quantum Art has secured $100 million in a new funding round.
The company, which is developing full-stack quantum computers based on trapped-ion qubits, this week announced that it has closed a $100 million Series A funding round.
Bedford Ridge Capital led the round alongside Battery Ventures, Destra Investments, Lumir Growth Partners, Disruptive AI, Harel Insurance, Karen W. Davidson, GTV, Yasmin Lukatz, Corner Capital, and Qbeat Ventures.
Existing investors and stakeholders, Amiti Ventures, which led the previous seed round, StageOne Ventures, Vertex Ventures, Entrée Capital, and the Weizmann Institute of Science also participated in this round.
"Investment support at this level reflects strong confidence in our technology and products," said Dr. Tal David, CEO and co-founder of Quantum Art. "It reinforces the momentum behind our multi-qubit gate architecture and our path toward systems that scale from hundreds to ultimately thousands and millions of qubits."
Quantum Art said the investment accelerates the company's efforts toward commercializing and scaling its systems and achieving quantum advantage. The funding accelerates the development of Perspective, a 1,000-qubit multi-core system.
The financing brings Quantum Art's total funding to date to $124 million following a seed round in 2022, when the Israeli company was founded as a spin-off from the Weizmann Institute of Science.
"Quantum computing advances only when extraordinary people come together," said Dr. Amit Ben-Kish, CTO and co-founder of Quantum Art. "Our team has turned ambitious ideas into state-of-the-art systems at remarkable speed. This funding lets us strengthen this team and deepen our strategic partnerships that will accelerate our path to commercial-scale machines."
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