Oxford Quantum Circuits (OQC), Europe’s leading quantum computing company, today announced raising £38 million (US $46.45 million) in the first close of an on-going Series A. The investment is the UK’s largest ever Series A in quantum computing and will accelerate research and development and fuel expansion in Asia-Pacific. The round was co-led by Lansdowne Partners, one of Europe’s leading investment firms, and The University of Tokyo Edge Capital Partners (UTEC), Japan’s largest deeptech VC fund. British Patient Capital and existing investors Oxford Science Enterprises (OSE) and Oxford Investment Consultants (OIC) also participated.
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Deployment of OQC’s 8 qubits processor Lucy by two quantum engineers. (c) Oxford Quantum Circuits
OQC’s patented 3D architecture, the Coaxmon, combines unparalleled scalability with world-class performance. This funding follows the February 2022 launch of OQC’s latest system, Lucy, on Amazon Braket – making it the first European quantum company on AWS. The company’s technology can be used by businesses in financial services, pharma and logistics to increase their competitive edge.
This Series A investment will be used to further scale the company’s quantum systems and its private quantum computing as-a-service offering. It will also consolidate OQC’s position in Europe and accelerate international expansion in Asia-Pacific, including the Japanese market – a hotspot for financial services eager to realise the advantages of quantum computing.
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