U.K. quantum computing startup Quantum Motion raises $50.5M

News Summary

  • Use cases may include accelerating new drug discoveries, or powering the vast amount of data processing required for AI applications.“Quantum computers will think in totally different ways to computers today,” Quantum Motion CEO James Palles-Dimmock explained to TechCrunch.
  • Image Credits: Quantum MotionQuantum Motion had previously raised around $24 million in equity and grant funding, and with its fresh cash injection, the company said that it plans to accelerate its development of silicon quantum processors through forging “deeper ties” with manufacturers.
  • “Being able to show that our approach to quantum computing doesn’t require data centers the size of football pitches, or vast CERN-type facilities, was one of the motivations behind our central London location.”Quantum Motion: working on dilution fridge.
  • In the past month alone we’ve seen French startup Pasqal raise €100 million, while Israel’s Quantum Machines closed out its Series B round at $70 billion and Australia’s Quantum Brilliance secured $18 million.
  • “We have a highly skilled team across multiple disciplines including IC (instrumentation and control) engineering, quantum theory, hardware and software, and deep relationships with world-leading universities that helps us seek out that talent.”Quantum Motion CEO James Palles-Dimmock with co-founders Prof. John Morton (CTO) and Prof. Simon Benjamin (CSO).
  • Image Credits: Quantum MotionQuantum Motion’s latest raise comes amidst a flurry of activity in the quantum computing space.
U.K. quantum computing company Quantum Motion has raised 42 million ($50.5 million) in an equity round of funding led by Bosch Ventures (RBVC), with participation from Porsche, the U.K. governments [+5791 chars]