Tech veterans launch VC fund Qbeat, targeting $100M to fuel Israel's quantum computing ecosystem
Qbeat, founded by Dr. Dorit Dor, Maya Racine Netser, and Joab Rosenberg, aims to invest in early-stage quantum startups in Israel and abroad, bridging the gap between research and commercialization.
Everyone is talking about AI, but the tech world is already focused on quantum computing—the next major leap forward. Calcalist has learned that a venture capital fund specializing in early-stage investments in quantum technologies was recently established by a group of Israeli industry veterans.
The founding partners are Dr. Dorit Dor, Maya Racine Netser, and Joab Rosenberg. Dor led product development, R&D, and mergers and acquisitions at Check Point for 28 years and currently serves as the company’s CTO. Rosenberg is a colonel (res.) in the Intelligence Corps and a former commander of the Talpiot program, where he worked on quantum technologies as part of his research at the Weizmann Institute. Racine Netser is a lawyer who was previously a partner at the HFN firm and has been involved in several exits in the biomed sector.
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Dr. Dorit Dor (bottom right), Maya Racine Netser (top), and Joab Rosenberg.
(Photo: Yaniv Cohen)
The fund, called Qbeat, is currently raising an estimated $100 million to invest in 12–15 early-stage hardware and software startups in the quantum field, from pre-Seed to Series A rounds. While the fund will focus on Israeli startups, it will also invest in companies abroad. In the future, it plans to expand into later-stage investments as companies in the sector mature. The fund has already closed its first investment in a startup and is currently finalizing another deal.
This is the first fund in Israel dedicated to quantum technologies and one of the few globally. According to the market research firm PitchBook, venture capital funds invested about $3 billion in quantum startups in 2023, though most funding in the field still comes from government agencies. Countries such as the U.S., China, the European Union, Germany, the UK, South Korea, and India have collectively invested $45 billion in quantum research to date, and universities have begun offering dedicated master’s programs in the field.
One of the main challenges in quantum computing is its slow development, which makes it difficult for venture capital funds to generate returns within conventional investment timeframes. To mitigate this, Qbeat plans to diversify its portfolio by investing not only in hardware companies but also in software startups developing applications and quantum sensors.
In recent months, the race for quantum computing has accelerated significantly, led by major tech giants. IBM, a key player in the field, announced that it has sold 75 active quantum computers to customers, generating over $1 billion in revenue. Google recently unveiled its Willow processor, which demonstrated advanced error correction capabilities for the first time. Microsoft and Amazon quickly followed suit, unveiling new quantum processors of their own.
Meanwhile, Wall Street is preparing for the first major IPO of a private quantum computing company—Quantinuum—which is estimated to be worth more than $10 billion. In Israel, there has also been significant momentum, with Quantum Machines recently raising $170 million at a $700 million valuation.
Quantum science has been developing for over a century but has remained largely theoretical due to the immense complexity and high costs of building quantum computers. However, industry experts believe that in the coming years, a fully error-free quantum computer will be introduced, leading to a breakthrough that could revolutionize computing and computational capabilities.
