LONDON and TOKYO, July 5, 2022 – Oxford quantum circuits (OQC), Europe’s leading quantum computing company, announced today that it has raised £ 38 million (US $ 46.45 million) in the first close of an ongoing Series A. The investment is the largest ever UK 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, a leading investment firm in Europe, and The University of Tokyo Edge Capital Partners (UTEC), Japan’s largest VC deeptech fund. British Patient Capital and existing investors Oxford Science Enterprises (OSE) and Oxford Investment Consultants (OIC) also participated.
OQC’s patented 3D architecture, Coaxmon, combines unprecedented scalability with world-class performance. This funding follows the launch in February 2022 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 companies in financial, pharmaceutical and logistics services to increase their competitive advantage.
This Series A investment will be used to further expand 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 into Asia Pacific, including the Japanese market, a hotspot for financial services eager to realize the benefits of quantum computing.
Quantum computing has the potential to shape our future and improve people’s lives and has long been recognized as an issue of national strategic importance. British Patient Capital’s investment in the round is part of its broader ambition to solidify the UK’s position as a science and technology superpower.
Lenny Chin, principal of UTECsaid: “Quantum computing promises to be the next frontier of innovation and OQC, with its state-of-the-art Coaxmon technology, aims to integrate the cutting edge of modern physics into our daily lives. UTEC is honored to be part of the OQC’s mission to make quantum technology accessible to all and will support OQC’s expansion into Asia Pacific through collaborations with academia, including the University of Tokyo, and partnerships with Japan’s leading financial and technology companies. “
Peter Davies, Partner and Head of Developed Markets Strategy at Lansdowne Partners, said: “Since the launch of the first commercially available quantum computer in the UK, we have continued to be very impressed with both the technical developments and the future ambitions of OQC. We are very excited to invest in this innovative and forward-looking company ”.
Judith Hartley, CEO, British Patient Capital said: “The UK has long been at the forefront of global technological developments. Our investment in Oxford Quantum Circuits exemplifies our ongoing commitment to ensuring that the UK remains at the forefront of deeptech innovation. The sphere of quantum computing is a vital link in the chain of technological, scientific and business progress, from breakthroughs to better business modeling across the board. We are thrilled to help fund OQC’s expansion into Asia Pacific regions, enabling this new technological frontier to further develop through exposure to the global market. “
Ilana Wisby, CEO of OQC, said: “This initial shutdown is the largest ever UK Series A in quantum computing, demonstrating the confidence our investors have in our ability to lead the global quantum industry. It is testimony to the significant technological and commercial progress we have achieved in recent months, thanks to our world-class team. It is also the first step in our international expansion, which brings quantum to the fingertips of our customers, wherever they are in the world. “
About OQC: OQC is the leading quantum computing company in Europe. We bring quantum to our customers’ fingertips and enable them to make groundbreaking discoveries. Our quantum computers are available via private cloud and on Amazon Braket. www.oxfordquantumcircuits.com
About Lansdowne: Lansdowne Partners is a European headquartered investment manager managing a diversified range of actively managed equity strategies. www.lansdownepartners.com/london
About UTEC: The University of Tokyo Edge Capital Partners, Inc. is the largest science and technology focused venture capital fund in Japan and one of the largest deep tech funds in Asia. UTEC has invested in over 140 Japanese and global startups with a track record of 17 IPOs and 14 M&A. www.ut-ec.co.jp/english
About BPC: British Patient Capital is the trading name of British Patient Capital Limited, a wholly owned trading subsidiary of British Business Bank plc, the UK government’s economic development bank. Launched in June 2018, British Patient Capital has £ 2.5 billion to invest over 10 years in venture capital and venture growth to support innovative UK companies with high growth potential. www.britishpatientcapital.co.uk
About OSE: Oxford Science Enterprises (OSE) is a Science Business Builder, committed to helping solve the world’s toughest problems for more people, in more places, faster. The company does this by transforming the world’s leading science into companies that change the world by teaming the best scientists from the best university in the world with the best business brains. www.oxfordscienceenterreste
About OIC: Oxford Investment Consultants supports extraordinary founders who transform scientific research into products that address the world’s greatest challenges. The OIC team has decades of investment experience, partnering with transformative biotechnology, healthcare and deeptech firms from the University of Oxford and other leading UK research institutes worldwide. www.oxfordinvestmentconsultants.com
Oxford Quantum Circuits secures £ 38m Series A investment led by Lansdowne Partners and The University of Tokyo Edge Capital Partners – UK Technology Investment News
Source link Oxford Quantum Circuits secures £ 38m Series A investment led by Lansdowne Partners and The University of Tokyo Edge Capital Partners – UK Technology Investment News