Oxford Quantum Circuits (OQC) has closed an oversubscribed £260m Series C funding round, marking Europe’s largest ever private funding round for a quantum computing company.
OQC develops and operates superconducting quantum computers designed for deployment in data-centre environments serving enterprise and government customers.
The company has established a global quantum computing platform across Europe, North America and Asia, with systems deployed in the UK, US, Japan and Spain.
Enterprise and government customers across financial services, defence and security are driving demand for OQC’s systems as they seek secure, scalable quantum infrastructure to tackle problems beyond the practical reach of classical computing.
The funding will be used to expand OQC’s operational presence in priority markets and accelerate its roadmap toward commercially useful, fault-tolerant quantum computing.
Bullhound Capital led the round, which included investment from the British Business Bank, Fynveur (advised by Invus), COFIDES, Alpha Edison, Fulcrum Asset Management, Pentland Ventures, Magdalen College Oxford, Adaptive Capital Partners, Firgun Ventures, 18 West and Oxford Capital.
Existing investors also participated including Oxford Science Enterprises, SBI, Chevron Technology Ventures, The University of Tokyo Edge Capital Partners Co. and OTIF Ventures.
“This is a coming-of-age moment for British quantum computing. It shows that British companies can play a leading role in a technology that will shape all our futures,” says Gerald Mullally, CEO of OQC.
“Globally, it represents a clear shift in the market – from long-term promise to near-term delivery in quantum computing. For OQC, this gives us the capital to scale internationally, advance our technology roadmap, and meet increasing demand from customers seeking secure, scalable access to quantum computing infrastructure.”
