Classiq raises additional USD5M for Series B funding second closing

Classiq, a Tel Aviv, Israel-based quantum software development company, raised additional USD3m in Series B funding.

Backers included HSBC, NTT Finance, and Neva SGR’s Intesa Sanpaolo. They joined existing investors Wing VC, Entrée Capital, Hewlett Packard Enterprise, Team8, Phoenix, Sumitomo Corp. (through IN Venture), OurCrowd, Spike Ventures, Samsung NEXT, and chip design titans Lip-Bu Tan and Harvey Jones.

This brings Classiq’s funding for this round to $36 million and its overall funding to $51 million.

Classiq CEO Nir minerbi provides a platform for organisations that want to accelerate their quantum computing program. Its patented “CAD for quantum software” engine automatically converts high-level functional models into optimized, hardware-aware circuits. Classiq allows customers to create IP blocks, look for quantum solutions to real-life problems and prepare for the quantum computing revolution.

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