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Four months after closing $100 million, the Israeli quantum startup Quantum Art added another $40 million in an oversubscribed extension.<\/span><\/p>\n AFP via Getty Images<\/small><\/div>\n<\/div>\n<\/figure>\n When a Series A funding round gets extended four months after closing, it usually means that the company that raised the round is so hot they essentially have investors begging to put their money in. I\u2019m not sure if that\u2019s happening here, but Quantum Art, the trapped-ion quantum computing startup with a roadmap to a massive 1,000-qubit quantum computer, just extended its $100 million series A with an additional $40 million in funding.<\/p>\n That brings the company\u2019s lifetime funding to roughly $164 million, most of it in this big A round. Bedford Ridge Capital, which led the original $100 million tranche announced in December, led the extension as well. New investors joining the cap table include Hudson Bay Capital, Poalim Equity, LIP Ventures, Wolverine Global Ventures and IDA Ventures.<\/p>\n Quantum Art says the extension was driven by investor demand, and it lands just as the company is making its first real move from R&D into commercial deployment. Along with the extra cash, Quantum Art said it is preparing to launch a Quantum-as-a-Service offering, its first formal commercial product.<\/p>\n This quantum-as-a-service offering will \u201cserve as a central pillar\u201d of the company\u2019s go-to-market strategy, meaning it plans to mostly offer cloud-based quantum computing, not shippable hardware. That\u2019s the same playbook IBM Quantum, IonQ, IQM Quantum Computers and Quantinuum have been refining for years, but it\u2019s a significant step for the relatively newer startup.<\/p>\n