Startup company Classiq, which operates in the quantum software market, announces the closure of a $ 33 million B round of funding. The company has developed a technological solution that allows the development of software for quantum computers in a simpler way, and that allows people who are not necessarily quantum people to program such software.
The company was founded in 2020 by Nir Minervi, who serves as the company’s CEO, Amir Naveh, VP of Product and Yehuda Naveh, the chief technologist. The team consists mostly of graduate researchers from leading universities in Israel and around the world, including nine Talpiot graduates and senior software engineers. The company plans to grow to about 90 employees in the coming year.
Quantum computing is based on a vision that has existed since the 1980s. Even then it was clear that this was a powerful tool that could change the world of technology and lead to a fundamental change of huge industries, as these computers would make it possible to do things that in the world of classical computing are impossible. In the last five years, the world of quantum computing has turned from a dream into a reality, the ‘mother’ has become ‘when’, and the time when the computing infrastructure will be accessible is about to come.
The raising was led by Phoenix, the investment arm of the corporation Sumitomo (IN Venture), the Stanford Spike Ventures and Samsung Next. In the current round of recruitment, Lip- Bu Tan, former CEO of Cadence and current president, and Harvey Jones, former CEO of Synopsys and director of Nvidia, also personally invested in the round of recruitment. Previous investors in the company also participated in the round: Entree Capital, Wing Capital , Team8 and Ourcrowd. The total capital raised by the company after the current round of funding stands at $ 48 million.
Nir Minervi, co-founder and CEO of Classiq Messer, “The quantum computing revolution is in full swing. In recent years the vision is fast becoming a reality, and a real arms race has been created to build the quantum computer. At the same time as building hardware, led by technology giants, .
Boaz Morris, a partner at The Phoenix, said, ‘Although quantum hardware has advanced very impressively, the software used to operate quantum computers remains at an insufficient level. Classiq’s revolutionary platform enables organizations to develop quantum algorithms while optimizing at the gateway level. We are excited to collaborate with Nir, Amir and Yehuda as they continue to realize their vision and position themselves as leaders in quantum software. ”
Bob Sorensen, senior vice president of research at research firm Hyperion said, “Quantum computing is a technology that produces a critical transformation for the success of organizations in the present age. However, there is an urgent need for software that brings to life the scale and capabilities of quantum computing. First to the field and their stakeholders. ”
Sarit Firon, Managing Partner at Team8 Capital submits, ‘While quantum computing is going to have a significant impact on countless industries, the development of quantum software is still very limited. “Classiq’s team of experts solves the most significant bottleneck of quantum software, enabling developers to design and build complex circuits that could not be built otherwise, thereby creating real potential for the use of quantum computing in any industry.”
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