The round, anchored by Quantinuum’s strategic partner JPMorgan Chase, saw additional participation from Mitsui & Co., Amgen and Honeywell, which remains the company’s majority shareholder.
This investment brings the total capital raised by Quantinuum since it was set up to approximately $625 million.
This capital raise represents Quantinuum’s first equity funding round since Cambridge Quantum Computing and Honeywell Quantum Solutions merged in November 2021. The funds will be used to accelerate the path towards achieving the world’s first universal fault-tolerant quantum computers, while also extending Quantinuum’s software offering to enhance commercial applicability.
JPMorgan Chase, which has a highly regarded specialist teams working on quantum technologies within the financial services industry, has been working with Quantinuum and its predecessor companies since 2020.
The company was one of the earliest experimental users of Quantinuum’s H-Series quantum processor and is also one of the most active corporate partners that employs Quantinuum’s software development kit, known as “TKET.”
Commenting Lori Beer, Global Chief Information Officer at JPMorgan Chase said, “Financial services has been identified as one of the first industries that will benefit from quantum technologies. As such, we have been investing in quantum research and our team of experts – led by Dr. Marco Pistoia – have made groundbreaking discoveries, partnering with quantum computing leaders like Quantinuum.”
Rajeeb Hazra, CEO of Quantinuum added, “The confidence in our business demonstrated through this investment by our longstanding strategic partners and industry leaders is a clear indication of the value we will continue to create with the world’s highest performing quantum computers, groundbreaking middleware to accelerate the developer ecosystem and innovative application software to revolutionize fields like cryptography, computational chemistry, and AI.”
Darius Adamczyk, Executive Chairman of Honeywell and Chairman of the Board of Quantinuum concluded, “The successful completion of this investment round is a testament to Quantinuum’s evolution and maturation in the quantum space. Today’s news signals the extent to which Quantinuum is uniquely positioned to commercialise its innovation and continue their leadership in a rapidly growing market.”
Quantinuum’s technologies are used by a number of leading companies, including Airbus, BMW Group, Honeywell, HSBC, JPMorgan Chase, Mitsui and Thales.
In collaboration, these organisations are exploring how to engineer and scale quantum capabilities to help solve many challenging problems – from designing and manufacturing hydrogen cell batteries for transportation, to developing materials to sequester carbon safely from the atmosphere to support the world’s energy transition.
Quantinuum is also heavily involved in developing Quantum Natural Language Processing, which will help enable the next generation of AI to be scalable and fit for purpose.
