Quantum computing startup Quantum Source has raised a $50M Series A investment round.

The round was led by Eclipse, with participation from Standard Investments, Level VC, Canon Equity, as well as existing investors Pitango First, Grove Ventures, 10D, and Dell Technologies Capital.

The company said the capital will be used to enhance engineering capabilities and accelerate commercialization of its quantum solutions.

The round brings the company’s total funding raised to more than $77m. It announced a $12m seed extension led by Dell Technologies Capital last year.

Founded in 2021, the Israel-based company is developing photonic quantum computers. It says its technology harnesses single atoms trapped on a proprietary photonic chip to allow deterministic photon generation and entanglement.

"This round is a vote of confidence in our approach to making scalable, useful quantum computing a reality, and a testament to the broader opportunity in quantum computing,” said Oded Melamed, co-founder and CEO of Quantum Source. “Our game-changing approach, which combines photonic and atomic qubits, will propel quantum computing further toward commercialization, by making large-scale, fault-tolerant quantum computers available to corporations at a practical cost.”

Seth Winterroth, partner at Eclipse, said his company envisages a future "where quantum computing transforms what’s possible."

Winterroth said: “With a team of visionary entrepreneurs and leading quantum physicists, Quantum Source is poised to lead a computing revolution that will reshape industries and redefine our future entirely.”

IonQ strikes $9m deal with University of Maryland

In other quantum news, IonQ has partnered with the University of Maryland (UMD).

The two organizations this week announced an agreement to expand their partnership to provide access to quantum computers at the National Quantum Lab at Maryland (QLab).

“This partnership strengthens IonQ’s commitment to the state of Maryland, a state that has positioned itself as the Capital of Quantum,” said IonQ president and CEO Peter Chapman. “UMD’s dedication to quantum research, coupled with the collaborative nature of QLab, makes them the ideal partner to accelerate breakthroughs in the quantum industry.”

QLab, the National Quantum Laboratory at Maryland, is a user facility at the University of Maryland launched in 2021 in partnership with IonQ.