The boss of an Oxford University quantum computing spinout today declared its £260m funding round as a “coming-of-age” moment, indicating that British companies can play a leading role in the field.
Oxford Quantum Circuits (OQC) said its £260m Series C was Europe’s largest-ever private quantum computing funding round.
The round was led by Bullhound Capital, with investment also coming from the British Business Bank, Fynveur, Cofides, Alpha Edison, Fulcrum Asset Management, Pentland Ventures and Magdalen College Oxford among others.
Existing investors, including Oxford Science Enterprises, SBI, and Chevron Technology Ventures, also participated in the round.
OQC, which was spun out of Oxford University in 2017, develops quantum computing hardware and software, with a focus on developing quantum computers that can be used for research, and commercial applications. Its target customers are businesses and governments, it says.
