SAN FRANCISCO, Sep 10 — Israel-based Quantum Source said on Tuesday it has raised $50 million to help build quantum computers that use light technology to process data.
Tech giants such as Alphabet’s Google (GOOGL.O) and Intel (INTC.O) are researching various ways to build commercial quantum computers.
Currently, there are no viable commercial applications, but the hope is that in the future, quantum computers will be able to process some data that today’s chips cannot actually process.
Quantum Source has developed a method of building quantum computers that involves generating photons, or light, which makes its systems more efficient than other methods, Quantum Source CEO Oded Melamed said in an interview.
Using photons allows the company to build room-temperature quantum computing systems, whereas other methods require bulky and expensive extremely low-temperature systems. The small room-temperature system will allow it to deploy computers in data centers or other locations without requiring special modifications.
“This means we can enjoy about four orders of magnitude efficiency gains compared to other solutions,” Melamed said. “Four orders of magnitude efficiency means smaller machines, machines that can fit into standard server (cells) and (standard) infrastructure.”
The company plans to use the proceeds from this round to help build a full quantum system capable of producing millions of qubits, the building blocks of quantum computing.
The round was led by California-based Eclipse and included investments from Standard Investments, Level VC and Canon Equity. Several existing investors participated, and the company has raised a total of $77 million, including Tuesday’s amount.
The company has 45 employees and is headquartered in a suburb of Tel Aviv. It was founded in 2021.
