Quantum Source, an Israel-based company developing technology for powerful, cost-effective, practical photonic quantum computers, announced it has raised $50 million in a Series A investment round. The round was led by Eclipse with participation from Standard Investments, Level VC, Canon Equity, and existing investors Pitango First, Grove Ventures, 10D, and Dell Technologies Capital. This brings the company’s total funding to over $77 million.
The capital will be used to enhance engineering capabilities and accelerate the commercialization of quantum solutions. Founded in 2021 by semiconductor industry veterans and serial entrepreneurs Oded Melamed, Gil Semo, and Dan Charash, along with Professor Barak Dayan, a leading scientist in quantum optics, Quantum Source seeks to solve one of the biggest challenges in photonic quantum computing. The team has developed a novel approach that uses single atoms trapped on a proprietary photonic chip to enable deterministic photon generation and entanglement.
This results in vastly improved efficiency, making the Quantum Source system substantially more scalable, compact, and easier to control.
Quantum Source secures Series A funding
“This round is a vote of confidence in our approach to making scalable, useful quantum computing a reality,” said Oded Melamed, Co-Founder and CEO of Quantum Source.
“Our game-changing approach combines photonic and atomic qubits, moving quantum computing closer to commercialization by making large-scale, fault-tolerant quantum computers accessible to corporations at a practical cost.”
With 45 employees, more than half of whom hold PhDs, Quantum Source is uniquely positioned to drive growth and innovation in the photonic computing industry. Last year, the company announced a $12 million seed extension led by Dell Technologies Capital and welcomed former Israeli Prime Minister Naftali Bennett to its Board of Directors, adding extensive tech leadership experience to its mission. “Eclipse’s investment in Quantum Source underscores our commitment to a future where quantum computing transforms what’s possible,” said Seth Winterroth, Partner at Eclipse.
“With a team of visionary entrepreneurs and leading quantum physicists, Quantum Source is poised to lead a computing revolution that will reshape industries and redefine our future entirely.”
Former Israeli Prime Minister Naftali Bennett added, “Public, private, and government sectors have made significant investments in the quantum industry, which highlights the impact quantum computing can have on shaping our future. Quantum Source is at the forefront of this revolution, and I believe they will be the team to unlock the promise of quantum computing to transform critical industries.”
Quantum computing represents a fundamental paradigm shift in computing, with the potential to dramatically enhance technological advancements in fields such as drug design, material development, and cybersecurity. Large-scale, fault-tolerant quantum computers, with millions of qubits, are critical to unlocking this potential but have yet to achieve commercial viability.
Photonic quantum computing technology offers the best route to commercialization, but inefficiencies in creating entangled photonic states have been a significant obstacle—one that Quantum Source aims to overcome.
