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Volumez and Quantum Source Raise $50 Million Between Them

Quantum Source

Quantum Source Team (Company Pic)

Quantum Source, an Israel startup developing the technology needed to bring photonic quantum computers to market, raised $12 million in a seed extension investment round led by Dell Technologies Capital with participation from 10D bringing the firm’s seed round total to $27 million, one of the largest total seed financings in the field of Quantum Computing. Meanwhile, Volumez, an Israeli cloud infrastructure startup, completed a $20 million Series A financing round led by Koch Disruptive Technologies. The company’ boasts that its innovative controller orchestration software harnesses the power of Linux to quickly execute modern data infrastructure workloads using a declarative interface that makes it easy to deploy a wide variety of applications in hybrid and multi-cloud environments.

So, in spite of the continuing worldwide financial crisis in which funding for investments has dried up do to a combination of high inflation and increased interest rates, and Israeli firms pulling funds out of their own nation because of the concerns over their government’s planned judicial reforms, new funds continue to flow into Startup Nation Israel.

Founded in 2020by CTO Jonathan Amit and led by CEO Amir Faintuch former Senior Vice President and General Manager of Platform Engineering at Israel, Volumez is a Cloud Volume Orchestrator that says it is on a mission to drive cost, complexity, and risk out of modern cloud data infrastructure. Volumez boasts that the company turns public and private clouds into one easily managed data infrastructure by abstracting the complexity of data path orchestration while optimizing resource utilization.

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Volumez explains a cloud database is a database built to run on a public or hybrid cloud platform. As organizations shift workloads from traditional IT environments to the cloud, they are an attractive solution for teams that want to maximize agility and developer productivity. The primary challenges with cloud databases are performance, reliability, and cost. Databases are highly sensitive to IO tail latency, and traditional cloud infrastructure typically cannot deliver the microsecond latency needed for a great user experience.

“Volumez technology is set to revolutionize the data infrastructure market, allowing, for the first time, hybrid and multi-cloud deployments at scale with significantly improved performance and latency compared to state of the art on-premises solutions with cloud extensions,” said Chase Koch, Founder and CEO, Koch Disruptive Technologies. “This investment supports our vision to transform Koch Industries by partnering with exceptional entrepreneur CTO Jonathan Amit and CEO Amir Faintuch to bring Volumez’s groundbreaking technology to market.”

Founded in 2021 by a team of semiconductor industry veterans and accomplished physicists, Quantum Source is developing technology to enable the efficient implementation of large scale, fault-tolerant, photonic quantum computers. To date, companies have built small quantum computers with just tens or hundreds of qubits. While these rudimentary quantum computers are truly groundbreaking technology, the systems are not yet commercially viable.

Quantum Source aims to build fault-tolerant quantum systems that scale to millions of qubits and that will have the potential to unleash dramatic acceleration in numerous cutting edge fields that include drug design, material development, cybersecurity, and the processing of large datasets for AI applications.

“We founded Quantum Source with the belief that photonic quantum technologies are the best route to achieve large-scale, fault-tolerant quantum computers. Our unique approach will dramatically improve the scalability of those machines and will be the key to commercial success of quantum computers,” said Oded Melamed, co-founder and CEO of Quantum Source. “Having investors such as Dell Technologies Capital believe in us will allow us to accelerate our work and by extension, entire industries.”



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