Quantum Machines, an Israeli quantum computing firm, has raised US$170 million in a series C funding round.

This brings the company’s total investment to US$280 million and values it at US$700 million.

The round was led by PSG Equity, with participation from Intel Capital, Red Dot Capital Partners, TLV Partners, and Battery Ventures.

Founded in 2018 by former Weizmann Institute researchers, Quantum Machines developed technology that operates various quantum computer types.

The company has also partnered with Nvidia to co-develop DGX Quantum, a system that integrates quantum and classical computations.