Quantinuum, the Cambridge and Colorado-based computing group, has hit a valuation of $10bn after securing a $600m (£445.6m) investment from backers including NVIDIA.
Founded from a merger of Cambridge Quantum and Honeywell Quantum Solutions, Quantinuum has become one of the most advanced firms in the field.
Described by its chief executive Raj Hazra as having perhaps the most powerful quantum computing equipment of any private firm, the company is looking to advance its technology at scale.
The new investment will support the firm as it builds to the launch of Helios, a so-called “next generation” quantum computing system expected to launch later this year.
Like many firms in the space in recent years, Quantinuum is working towards increasing its commercial momentum. It currently provides a full-stack quantum computing service, supplying its technology to scientific research and industry partners.
It has also made waves in generative AI through its system of quantum computer-generated training data.
Now backed by NVIDIA, Quantinuum will work with its investor as a founding collaborator at the NVIDIA Accelerated Quantum Research Center.
“We are proud to partner with investors who share deep conviction in our vision for the future of quantum and AI,” said Hazra.
“With the continued support of our customers and supply chain partners, this new funding will further extend our leadership, accelerate our roadmap and strengthen the entire quantum ecosystem.”
Other backers include Quanta Computer, QED Investors as well as existing shareholders JPMorganChase, Mitsui, Amgen, Cambridge Quantum Holdings, Serendipity Capital and Honeywell.
Quantinuum has also recently entered strategic partnerships with SoftBank, Infineon and STFC Hartree Center.
Earlier this year it expanded to Qatar in a $1bn joint venture.