Oxford Quantum Circuits (OQC), Europe’s leading quantum computing company, has raised $46.45 million in a Series A venture capital funding.
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.
Ilana Wisby, CEO of OQC, said: “This initial close is the UK’s largest ever Series A in quantum computing, demonstrating the confidence our investors have in our ability to lead the global quantum industry.”
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.
OQC has patented 3D architecture called the Coaxmon. 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.
The company will use the Series A investment to scale the company’s quantum systems and its private quantum computing as-a-service offering. It will consolidate OQC’s position in Europe and accelerate international expansion in Asia-Pacific.
