Quantum Source Raises $12M

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REHOVOT, Israel, April 24, 2023 — Optical computing technology developer Quantum Source has raised a $12 million seed extension investment round led by Dell Technologies Capital with participation from 10D, as well as existing investors Eclipse VC, Grove Ventures, and Pitango First. The extension brings Quantum Source’s seed round total to $27 million. The additional financing will be used to expand the company’s research and development team as the company works to build fault-tolerant quantum systems that scale to millions of qubits.

Published: April 2023
The term quantum refers to the fundamental unit or discrete amount of a physical quantity involved in interactions at the atomic and subatomic scales. It originates from quantum theory, a branch of physics that emerged in the early 20th century to explain phenomena observed on very small scales, where classical physics fails to provide accurate explanations. In the context of quantum theory, several key concepts are associated with the term quantum: Quantum mechanics: This is the branch of...
A qubit, short for quantum bit, is the fundamental unit of information in quantum computing and quantum information processing. Unlike classical bits, which can exist in one of two states (0 or 1), qubits can exist in multiple states simultaneously, thanks to a quantum property known as superposition. This unique feature enables quantum computers to perform certain types of calculations much more efficiently than classical computers. Key characteristics of qubits include: Superposition: A...
Businessfundingfinancingseed roundcapitalraiseOpticscomputingquantumquantum computingfault-tolerantqubitscalableoptical computingquantum sourceDell Technologies CapitalEclipse VCGrove VenturesPitango FirstIsraelMiddle East

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