Israeli quantum computing startup Classiq announced on Monday that it has secured $110 million in a mid-stage private funding round, raising its total capital to $173 million.
Quantum computing has the potential to perform computations that would take today’s most advanced systems millions of years, potentially revolutionizing fields like medicine, chemistry, and beyond.
The latest investment round was led by Entree Capital, with additional support from Norwest, NightDragon, Hamilton Lane, Clal, Neva SGR, Phoenix, Team8, IN Venture, Wing, HSBC, Samsung Next, QBeat, and other new and existing backers.
Classiq, founded in 2020, has rapidly scaled its operations by consistently tripling both its revenue and customer base each year. Moreover, leading global companies such as BMW, Citi, Deloitte, Mizuho, and Toshiba actively use its technology. In addition, the company collaborates with industry giants like Microsoft, Nvidia, and AWS, as well as several academic institutions, to drive further innovation in the quantum computing space.
“We are building the Microsoft of quantum computing,” said Nir Minerbi, CEO and co-founder of Classiq, adding that the group is “delivering the essential software stack” for the development of real-world quantum applications.
Classiq’s successful $110 million funding round underscores growing investor confidence in the transformative potential of quantum computing. With a rapidly expanding customer base, strong industry partnerships, and innovation, the company is aims to play a leading role in shaping the future of quantum technology.
