Israeli quantum tech startup secures $50 million in funding
Founded in 2021, Quantum Source employs 45 people and plans to use the funds to create a comprehensive quantum system capable of generating millions of qubits.
Israel-based startup Quantum Source has secured $50 million in funding to advance the development of quantum computers that utilise light-based technology. That approach, which generates photons for data processing, promises to be more efficient than traditional methods. By allowing quantum systems to operate at room temperature, Quantum Source’s technology eliminates the need for bulky, costly cooling systems, making it easier to deploy in standard data centres.
CEO Oded Melamed explained that their method offers significantly greater efficiency, potentially making quantum computers smaller and more practical for widespread use. The company plans to use the new funding to build a complete quantum system capable of generating millions of qubits, the essential units of quantum computing.
The funding round was led by California-based Eclipse and included investments from Standard Investments, Level VC, and Canon Equity. Since its founding in 2021, Quantum Source has raised $77 million and currently employs 45 people in its Tel Aviv suburb office.
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