Quantum Source secures $50M funding in Tel Aviv for scalable computing

Quantum Source, an Israel-based company founded in 2021, has successfully raised $50 million in a Series A funding round led by Eclipse, with contributions from various investors including Standard Investments and Dell Technologies Capital. This funding brings the total capital raised by the company to over $77 million. The investment aims to enhance engineering capabilities and expedite the commercialization of their innovative photonic quantum computing technology. The company focuses on developing practical and cost-effective quantum computers, addressing significant challenges in the field, particularly the inefficiency in creating entangled photonic states. Their unique approach utilizes single atoms on a proprietary photonic chip, achieving a remarkable four orders of magnitude better efficiency than existing methods. This advancement positions Quantum Source as a leader in the quest for scalable quantum computing solutions. With a team of 45 employees, including many PhD holders, Quantum Source is well-equipped to drive innovation in the quantum computing sector. The company’s strategy combines photonic and atomic qubits, which is expected to facilitate the development of large-scale, fault-tolerant quantum computers that can be commercially viable. Former Israeli Prime Minister Naftali Bennett, now a board member, emphasizes the importance of investments in the quantum industry, highlighting Quantum Source's potential to revolutionize critical sectors. The recent funding round is seen as a significant endorsement of the company's vision and capabilities, paving the way for advancements that could reshape industries and redefine technological possibilities.