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Israeli startup Q-Factor had operated largely under the radar until today, but it has already attracted significant attention within the industry due to its unusually strong academic pedigree.
The company, which is developing a full-scale quantum computer based on neutral atom technology, was founded by four leading physicists from the Weizmann Institute of Science and the Technion, each of whom heads a prominent laboratory in the field. It is now emerging from stealth with a $24 million Seed round, completed just months after its founding.
The round was led by NFX and TPY Capital, with participation from Intel Capital, Korea Investment Partners, Deep33, and the Matias family, along with a grant from the Israel Innovation Authority. The Technion – Israel Institute of Technology and Weizmann Institute of Science (through Yeda, its technology transfer arm) are also shareholders in the company, which was founded to commercialize decades of foundational research in atomic physics conducted in their labs.