OQC raises $350M for its sapphire-based superconducting quantum chips
British quantum computing startup OQC today announced that it has raised £260 million, or $350 million, in funding.
Bullhound Capital led the oversubscribed Series C round. It was joined by more than a dozen others including the British Business Bank, the UK government’s economic development bank, and the startup investment arms of several universities.
“This gives us the capital to scale internationally, advance our technology roadmap, and meet increasing demand from customers seeking secure, scalable access to quantum computing infrastructure,” said OQC Chief Executive Officer Gerald Mullally.
OQC, officially Oxford Quantum Circuits Ltd, makes quantum computers based on a qubit design known as the transmon. The core component of a transmon is a structure called a Josephson junction. It comprises a layer of insulating material sandwiched between two superconductors.
