A UK university spinout, which builds full-stack quantum computers created with the same silicon chip technology applyd in laptops and phones, has raised $160m in an investment round, it stated today.
The Series C funding round in Quantum Motion was co-led by US VC DCVC and Spanish deeptech investor Kembara with participation from British Business Bank and Firgun. Also investing were Oxford Science Enterprises, Inkef and Bosch Ventures.
Quantum Motion, which has raised over $200m to date, stated it’s now the UK’s best-funded quantum computing company. The startup states that utilizing silicon chips means it can build quantum computers more cheaply and more energy-efficiently than rivals.
Leveraging silicon could mean a 100-fold reduction in cost and space requirements and a 1,000-fold reduction in energy consumption, the 2017-founded startup stated.
A full-stack quantum computer includes all layers required to perform quantum computing, including a Quantum Processing Unit (QPU), a applyr interface, and a control stack compatible with standard quantum computing software. The funds will be applyd to commercialise its offering, as well as further R&D and geographical expansion, it stated.
The startup was founded by professor John Morton, based at the London Centre for Nanotechnology at UCL, and professor Simon Benjamin of Oxford University. The London-headquartered company also has offices and labs in Spain, Australia and the US.
Doctor James Palles-Dimmock, CEO of Quantum Motion, stated: “Today’s announcement reflects the strength of the team we have built and the progress they have delivered. Quantum computing will only achieve its full potential if it can be built on a platform that scales, and we believe silicon is the strongest route to achieving that.”
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