Israeli quantum computing firm Classiq raises $110 million
This investment brings Classiq’s total funding to USD 173 million, positioning the company to meet growing demand by significantly scaling its go-to-market, customer success and R&D teams.
Israeli quantum computing startup Classiq has announced raising USD 110 million in Series C funding. The round was led by Entrée Capital, with participation from Norwest, NightDragon, funds managed by Hamilton Lane, Clal, Neva SGR, Phoenix, Team8, IN Venture, Wing, HSBC, Samsung Next and QBeat, as well as other new and existing investors.
This investment brings Classiq’s total funding to USD 173 million, positioning the company to meet growing demand by significantly scaling its go-to-market, customer success and R&D teams. Classiq will expand its global footprint to broaden its leading role in national quantum initiatives and as a cornerstone of the quantum ecosystem, according to a media release.
“We are building the Microsoft of quantum computing,” said Nir Minerbi, CEO and Co-founder of Classiq. “In this new era of computing, Classiq is delivering the essential software stack to empower the development of real-world quantum applications.”
Classiq said it has tripled its customer base and revenues year over year and is used by dozens of the top enterprise teams and hundreds of academic institutions worldwide, enabling the creation of quantum applications.
It serves enterprises across industries, including BMW, Citi, Deloitte, Rolls-Royce, Mizuho and Toshiba. The company collaborates with leading entities such as Microsoft, AWS and NVIDIA, and is also embedded across academia, forming part of the official curriculum in many universities.
Classiq’s platform addresses the widening gap between quantum hardware and quantum software, the media release said.
“Quantum computing is advancing at a rapid pace, and Classiq has emerged as the clear leader in the quantum software category,” said Avi Eyal, Managing Partner at Entrée Capital. “We’re proud to support the team as they continue to build the operating system and compiler for all quantum computers.”
Israel is home to 22 quantum computing startups, according to Startup Nation Central data. Quantum computing startups this year have raised about USD 289 million in fresh capital, including Classiq’s financing round and the USD 170 million in funding secured by Quantum Machines, according to a report by The Times of Israel.