Tired of ads? Enjoy an ad-free experience by signing up.
👩‍🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.
🧔‍♂️ A friendly human may check it before it goes live. More news here

AMD, Qualcomm join Israeli quantum computing firm’s $30m round

Classiq, an Israeli quantum computing software firm, has raised about US$30 million in a new funding round.

The round is backed by AMD Ventures, Qualcomm Ventures, IonQ, Mirae Asset Capital, LeumiTech77, and Quantum Eretz.

The company has developed an operating system and development environment for building quantum applications in a hardware-agnostic way.

It says it has now raised over US$200 million to date.

This latest round follows a US$110 million series C completed six months ago, with SoftBank joining later through an additional US$10 million investment.

Classiq employs 100 people, with most staff based in Israel.

Its customers include BMW Group, Comcast, Rolls-Royce, Citi, Toshiba, and SoftBank. The company was founded in 2020 by Nir Minerbi, Amir Naveh, and Dr. Yehuda Naveh.

🔗 Source: Calcalist

🧠 Food for thought

Implications, context, and why it matters.

AMD, Qualcomm, and IonQ back a move to integrated quantum-classical workflows

  • AMD, Qualcomm, and IonQ joined Classiq’s round 1. Mix signals hybrid setups where quantum coprocessors work as accelerators next to CPUs and GPUs (graphics processing units).
  • Roadmaps target advantage-class machines (systems that deliver practical benefits over classical computers on specific tasks) by 2026, with gains expected around 2030 to 2035 2. Chip makers want the software layer (middleware that connects applications to underlying hardware) to guide developers. Classiq offers write once, run anywhere, which helps while vendors race to fault tolerance (the ability to correct errors and run reliably at scale) 2.

Enterprise Software-as-a-Service (SaaS) firms can earn revenue from quantum-readiness consulting before hardware matures

  • Classiq lists BMW, Rolls-Royce, and Citi as customers 3. Licenses run $30,000 to $50,000 per developer seat, plus metered cloud execution fees (usage-based charges for running programs on quantum hardware in the cloud) 2. Churn is low, and seat counts are rising among existing users 2. SaaS firms in optimization, simulation, or cryptography can bundle quantum-readiness assessments as paid add-ons.
  • Applied quantum programs span Austria, Belgium, Denmark, and Finland 4. France, Portugal, and Spain also fund efforts, with rules that require consortia (multi-organization collaborations) with at least two countries 4. Canada’s National Research Council (NRC) offers up to $400k per project over two years 5. Service providers can arbitrage this (i.e., profit from differences between funding rules and market demand) by building multi-country consortia, charging facilitation fees, while enterprises tap non-dilutive capital (funding that doesn’t require giving up equity) for pilots.

Stay ahead in Asia’s tech landscape

You've reached your 2 free content limit for the month. Sign up for free to read the full story.

🏄 For casual readers / 👶 Free

Basic

US$0

Free forever

Get instant access to this article and more every month

0 premium content

Unlimited news briefs

5

5 articles

Ad-free reading experience

Just US$0 per day

⌛Sign up in 20s. No payment details needed.

📖 For learners / 👍 Starter

Lite

US$4.92/month

Billed annually at US$59/year

Get instant access to this article and more every month

4

4 premium content

Unlimited news briefs & articles

Ad-free reading experience

Just US$0.17 per day

Cancel anytime

Our subscriber community includes professionals from these companies:

Stay updated on the go with our mobile app.

Get latest insights with smoother, more personalized experience through TIA mobile app.