Intel acquires Classiq for $2.3B, Freshworks acquires Torii, and more

Intel signed a definitive agreement to acquire portfolio co Classiq. The deal was reported at over $2.3B, making it the largest global quantum acquisition to date. Closing is expected in early 2027.

Intel is buying Classiq to become a full-stack quantum computing provider. The team will stay primarily in Israel, and will expand significantly over the coming years together with continued investment by Intel.

Entrée Capital was the sole investor in Classiq’s seed round and invested again in subsequent rounds. At signing, Entrée remained the company’s largest shareholder and held two board seats.

We thank Nir Minerbi, Yehuda Naveh and Amir Naveh, who took an idea about abstracting quantum hardware and built it into the company Intel chose to anchor its quantum business. We also extend a big thanks to the entire Classiq team. We wish them and their new colleagues at Intel every success.

We were involved from company formation: the original ideation, go-to-market, putting together and participating in subsequent financing rounds, and led the process that culminated in this transaction. Classiq is the outcome we build the fund for: a first cheque at formation, conviction through every round, and a role at the table at exit with significant returns.

Freshworks (NASDAQ: FRSH) signed a definitive agreement to acquire Torii, which gives IT, finance and security teams one view of every app, license, user and dollar of software spend, now down to the AI token. Torii will become part of Freshservice.

Entrée backed Uri Haramati, Tal Bereznitskey and Uri Nativ from pre-seed through every round. As AI spend moves from licenses to tokens, governing it is becoming core IT infrastructure.

Welcome to the portfolio, Ultra! Ultra sits between AI agents and the MCP servers and connectors they use, with real-time visibility into every prompt, data request and tool call. Policies are written in plain language: block credential access, redact PII, decide which agents reach which tools.

This is our second time backing founder Chase Lee, after his latest company Trustpage, which was acquired by Vanta.

Undecimal Bio, a spin-out of Eleven Therapeutics, launched with an oversubscribed $18M seed to take siRNA drugs beyond the liver. Its platform screens massive chemical libraries in live cells, then uses AI to predict which molecules reach which tissue. First programs target kidney and vascular diseases.

General Medicine is building the healthcare store: search, compare and buy care with prices shown upfront, with or without insurance. The round was led by a16z, bringing total funding to $152M. Its catalog covers 2,900+ products and services, and it has served several hundred thousand customers since launching in May 2025.

NVision published peer-reviewed research in Nature showing the first individually addressable organic molecular qubit with a photonic interface. Its qubits can be deposited as thin films, much like OLED materials, directly onto photonic chips. That is a path to scale through existing foundries, not custom fabs.

NVision also announced its first US chip partnership, with HyperLight. First prototype chips are expected in Q4 2026.

Listen Labs started as a failed consumer app. The founders built a tool to ask churned users why they left, and that tool became the company: an AI that replaces the human research interviewer.

This episode breaks down how it reached ~$30M in annualized revenue, why the founders walked away from a signed $125M round at a $1.5B valuation, and how a $5,000 billboard got around 5 million views on the way to a reported $2B sale to Salesforce.

Also from the team this month: