Quantum Machines Receives Another $20 Million in Venture Funding and Continues to Grow Their Cust...

Quantum Machines has disclosed they have received another $20 million in funding late last year. This funding was added to the $50 million Series B funding that the company originally announced in 2021 and it brings total company funding to $100 million. The company is not disclosing the names of the investors for these additional funds, but did indicate that it includes both new and existing investors. The company also announced they are now serving 280 customers worldwide and had substantial revenue growth in 2022 with sources indicating that it exceeded $10 million. The company now has 140 employees including the personnel at QDevil, a company they acquired last year. The company also announced in 2022 a project to lead the establishment of the Israel Quantum Computing Center and partnerships with Toyota Tsusho, the European EuRyQa project, and others. Additional information about Quantum Machines venture funding and other recent developments are available in a press release that can be accessed here.

January 18, 2023