Quantum hardware startup Quantum Machines raises $170M in funding – News

Quantum Machines Ltd., a startup that supplies equipment for quantum computer developers, has raised $170 million in fresh funding.

Announced today, the Series C investment was led by PSG Equity with participation from Intel Capital, Red Dot Capital Partners and several returning backers. Quantum Machines’ total outside funding now stands at $280 million.

Qubits, the basic building blocks of a quantum computer, can’t carry out calculations on their own. They usually rely on a classical server to coordinate processing. Quantum computers also include many other auxiliary components, including an industrial fridge that cools the qubits to temperatures nearing absolute zero. 

Quantum Machines is one of the main suppliers of auxiliary components to the quantum computing ecosystem. The company’s equipment removes the need for researchers to build their quantum computers from scratch, which speeds up development. Its product portfolio includes nearly a dozen different devices. 

Much like how standard processors are placed on motherboards, quantum chips sit on a module known as a chip carrier. Quantum Machines offers a chip carrier called the QBoard-II that can accommodate both superconducting and spin qubits. Spin qubits encode information into the spin of electrons. Quantum circuits of the superconducting variety, in turn, use superconducting materials to carry out processing. 

Quantum Machines says the QBoard-II is designed to prevent qubits from interfering with one another. Additionally, the module includes a shield that protects the circuits from outside inference. Such inference can cause processing errors if it’s not mitigated. 

Quantum processors and the chip carrier on which they’re installed are usually deployed in an industrial fridge. Quantum Machines sells a device called QFilter-II that can help a quantum machine’s fridge maintain the cool temperatures necessary for data processing. Additionally, the QFilter-II helps the chip carrier filter outside inference that might interrupt calculations.

Another Quantum Machines product, QSwitch, helps researchers collect the data generated by their quantum computers. Information is collected through cables optimized to operate inside industrial fridges. QSwitch is designed to ease tasks such as analyzing the results of quantum experiments.

A quantum computer’s qubits are coordinated by a classical server known as the quantum controller. The controller configures the qubits to carry out calculations and reads the processing results. In many cases, it also performs related tasks such as mitigating computing errors.

Quantum Machines sells a quantum controller called the OPX1000. It’s based on a chip from Advanced Micro Devices Inc.’s UltraScale+ line of FPGAs, or field-programmable gate arrays. The system programs the quantum machine to which it’s attached by directing microwave signals onto its qubits and reads the processing results using a similar method.

Another Quantum Machines controller, the OPX+, powers Nvidia Corp.’s DGX Quantum system. The latter appliance is designed to help companies manage quantum processors. It combines the OPX+ with Grace Hopper Superchips, which in turn each include a graphics processing unit and a central processing unit. 

Researchers can use the DGX Quantum to run a quantum computer’s error correction software. According to Nvidia, the system also lends itself to powering so-called hybrid algorithms. Those are algorithms that perform some of their calculations using qubits and others with a standard processor. 

Several of Quantum Machines’ products are based on technology it obtained through a startup acquisition last year. The funding round announced today could enable the company to make more acquisitions as part of its growth efforts.

“With this funding, we believe that we are well-positioned to accelerate our expansion, drive innovation, and create long-term value for our stakeholders,” said Quantum Machines Chief Financial Officer Nir Ackerman.

Quantum Machines disclosed on occasion of the raise that it has hundreds of customers. The list includes most of the world’s quantum computing companies along with universities, enterprises and other organizations that are exploring applications for the technology. 

Photo: Quantum Machines