• CMOS based electron-spin Quantum Computing enables scaling
• Bosch Ventures places its third investment in the quantum space
• Largest funding round in a UK, Quantum Computing scale up
London, UK. 21 February 2023 – Quantum Motion, a UK-based quantum computing scale-up founded by Professor John Morton, UCL, and Professor Simon Benjamin, Oxford University, has raised over £42 million in equity funding from some of the world’s leading quantum and technology investors. The oversubscribed round is led by Bosch Ventures and joined by Porsche Automobil Holding SE (Porsche SE) and British Patient Capital. All existing investors from earlier rounds (Oxford Science Enterprises, Inkef, Parkwalk Advisors, Octopus Ventures, IP Group and NSSIF) are again participating. This is one of the most significant raises in UK quantum computing and allows Quantum Motion to accelerate its development of silicon quantum processors by developing deeper ties with its manufacturing partners and trebling the size of its central London headquarters.
Quantum computers offer an opportunity for transformative computing power with the potential to disrupt sectors ranging from energy and pharmaceuticals to finance and logistics. Quantum Motion’s vision is to develop scalable quantum computers by harnessing highly advanced silicon transistor manufacturing processes. Over the last two years the company has made a series of peer-reviewed and record-breaking achievements that underline how silicon could be the fastest, most cost-effective and scalable way of producing the millions of qubits that are needed to create fully-functional, fault tolerant quantum computers.
Bloomsbury - the new Quantum Chip from Quantum Motion. Source: Quantum Motion
Quantum Motion’s latest funding round brings the total raised to more than £62 million. The company has previously raised over £20m in equity and grant funding from the UK and EU and existing investors which have supported the company through its early-stage work and growth, enabling it to hit a sequence of milestones that demonstrate a clear path towards building quantum computers. It has designed and validated integrated circuits capable of generating, routing and processing signals at deep cryogenic temperatures, operating down to a few tenths of a degree above absolute zero. Recent demonstrations such as the mass characterization of thousands of multiplexed quantum dots fabricated in a tier one foundry have further underlined the company’s advantage.
James Palles-Dimmock, CEO of Quantum Motion, said, “The support of leading technology investors enables us to realize our vision of a quantum computer built using standard foundry processes. This support, along with the continuing UK national quantum programme and European initiatives, provides a step-change in our capabilities. We have assembled a world leading team and with the funding and support in place, we are ready to scale and deliver on our vision.”
“CMOS based quantum computing leverages on today’s sophisticated chip manufacturing processes and fabs,” says Ingo Ramesohl, Managing Director Bosch Ventures. “Quantum Motion has demonstrated that it can take quantum theory out of a lab into the real world to create a scalable path to a quantum future. We’re excited to join the company and break new ground in the years to come.” Among other things Bosch wants to use quantum computing simulation of materials to find surrogates for the precious metals and rare earths in carbon-neutral powertrains.