UK – Quantum Motion, a London, UK-based quantum computing company, raised over £42M in Equity funding.
The round was led by Bosch Ventures (RBVC), Porsche Automobil Holding SE (Porsche SE) and British Patient Capital, with participation from Oxford Science Enterprises, Inkef, Parkwalk Advisors, Octopus Ventures, IP Group and NSSIF.The company intends to use the funds to accelerate its development of silicon quantum processors. Led by James Palles-Dimmock (CEO), Prof John Morton (CTO), Anna Stockklauser (VP Product), Prof Simon Benjamin (CSO), and Jane Osborne-Buglear (COO), Quantum Motion is developing a technology platform featuring a scalable array of qubits based on the ubiquitous silicon technology already used to manufacture the chips in smartphones and computers. The company is developing fault tolerant quantum computing architectures that are compatible with CMOS processes and will support the quantum algorithms, targeting solutions to currently intractable problems in fields as diverse as chemistry, materials science, medicine and artificial intelligence.21/02/2023Quantum Motion’s latest funding round brings the total raised to £62M. The company has previously raised over £20M in equity and grant funding from the UK and EU and existing investors which have supported the company through its early-stage work and growth, enabling it to hit a sequence of milestones that demonstrate a clear path towards building quantum computers. It has designed and validated integrated circuits capable of generating, routing and processing signals at deep cryogenic temperatures, operating down to a few tenths of a degree above absolute zero. Recent demonstrations such as the mass characterisation of thousands of multiplexed quantum dots fabricated in a tier one foundry have further underlined the company’s advantage.The company employs 40 people, comprising specialists in quantum theory, engineering and software. 21/03/2023
