Israeli PRs

Classiq, the leader in quantum software development, today announced the participation of three industry leaders – HSBC, NTT Finance, and Intesa Sanpaolo – in the second closing of its Series B funding. This comes on the heels of its earlier Series B round news, and brings Classiq’s funding for this round to $36 million and its overall funding to $51 million. It also demonstrates that key industry players view quantum as a strategic imperative.

New Investments Demonstrate Shared Interest In and Strategic Importance Of Quantum Computing

HSBC, which is based in the U.K., is the second-largest bank in Europe. Japan’s NTT is the world’s fourth-largest telecom company and a Classiq customer. Neva SGR is part of the Intesa Sanpaolo Group, the Italian leading bank in Europe. The three new, noteworthy investors join existing Classiq investors Wing VC, Entrée Capital, Hewlett Packard Pathfinder, Team8, Phoenix, Sumitomo Corp. (through IN Venture), OurCrowd, Spike Ventures, Samsung NEXT, and chip design titans Lip-Bu Tan and Harvey Jones.

“We are pleased to welcome three new corporate investors, all leaders in their fields,” said Classiq CEO Nir Minerbi. “Quantum is poised to be one of the most impactful technology categories of the coming decades, and these companies share our vision of what quantum could deliver and understand the problems that need to be solved to reach that goal. We look forward to collaborating with them to advance the state-of-the-art in quantum software.”

“Quantum computing has the potential to overhaul how we operate areas of the bank, like option pricing and risk analysis, which would lead to greater efficiencies and customer service improvements. We look forward to working with Classiq to explore this technology further,” said Steve Suarez, global head of innovation, global functions at HSBC.

NTT forecasts that the need for and availability of quantum computing will rise dramatically. It is investing in Classiq and its platform, which NTT DATA is using to create novel credit risk analysis algorithms in the quantum field. The NTT investment by NTT Finance was initiated by NTT Innovation Laboratory Israel.

“Quantum computing is certainly a key technology for the future,” explained Mario Costantini, CEO of Neva SGR. “We decided to invest in this highest potential technology because we think it could guarantee excellent returns to our investors. In addition, we are seeing the same high potential in several industrial sectors, including the financial one, which is already testing these new technological frontiers.”

Quantum computing will change cybersecurity and national security posture, prompt investment, and unlock value in the world. Leading public and private organizations will use quantum to solve complex problems and create innovative, new solutions across disciplines.

“Quantum is now a top strategic priority for public and private organizations,” said Yinam Cohen, consul general of Israel to the Midwest. “Quantum technologies will help determine the winners and losers of the 21st century.”

Photo credit: Eyal Toueg