Yoni Zimmermann, quantum software engineer at Classiq, a startup whose platform companies can use to build quantum applications for the quantum computer, works on the software platform, in Tel Aviv, Israel, February 2022. Classiq/ Handout via REUTERS

OAKLAND, Calif., Feb 17 (Reuters) – Tel Aviv-based quantum computing software startup Classiq said on Thursday it had raised $33 million from investment affiliates of Hewlett Packard Enterprise Co , Samsung Electronics Co Ltd (005930.KS) and other investors.

While the promise of a world-changing quantum computer is still years away, the past year has seen several quantum computer companies go public, and many new players, hardware and software, have emerged from the labs of research and secured venture capital funding.

Quantum computers use the phenomena of quantum mechanics and hope to eventually run millions of times faster than today’s advanced supercomputers.

Classiq has raised a total of $48 billion now, just 20 months after launch. The company declined to share its latest assessment. This round also included personal investments from Lip-Bu Tan and Harvey Jones – well-known chip industry executives and investors.

Classiq has a software platform that other quantum software developers can use to create specific applications, such as tools for optimizing financial assets or tools for testing the properties of new molecules for drug discovery. .

“Over the past couple of years, we’ve seen many companies in various fields, in finance, automotive, chemicals, building quantum software teams,” Nir Minerbi, co-founder and CEO, told Reuters. Classic “They want to be able to prepare the software, create the intellectual property (IP) themselves.”

Minerbi said software developed on Classiq’s platform will be able to evolve alongside developments in quantum computers.

Today’s quantum computers are still in their infancy with a limited number of quantum bits, or qubits, which is the processing power of the computer. Late last year, IBM announced that it had a 127-qubit Eagle processor.

Still, researchers say quantum computers will need thousands of qubits before they can run game-changing algorithms.

Reporting by Jane Lanhee Lee; Editing by Stephen Coates

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