Quantum Motion raises £42 Million in largest ever UK quantum funding

Monday 27th February, 2023

London and Oxford-based startup Quantum Motion has announced a £42m funding round — the largest ever single investment in a quantum computing startup in the UK — to develop its silicon-based technology. Marriott Harrison advised existing investors Oxford Science Enterprises, Inkef, the UK government’s National Security Strategic Investment Fund (NSSIF) and Octopus Ventures on their participation in the round.

Bosch Ventures led the oversubscribed round, which included some of the world’s leading technology investors.

The fundraising is one of the most significant in UK quantum computing. It 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.

Professors John Morton and Simon Benjamin from UCL and Oxford University co-founded Quantum Motion in 2017 to create “scalable quantum computers” through novel quantum computing architectures that work well with existing silicon processing. The team at Quantum Motion comprises 40 specialists in areas such as quantum theory, software, and engineering. Unique to Quantum Motion is its silicon technology, which has been proven to produce cost-effective, efficient, and fully functional quantum computers.

David Strong and Bradley Heath advised the consortium of existing investors on the transaction.

About MH’s clients

Oxford Science Enterprises is an independent, billion-pound investment company created in 2015 to found, fund, and build transformational businesses via its unique partnership with the University of Oxford.

Inkef is an early-stage investor which partners with ambitious mission-driven entrepreneurs in the healthcare and technology sectors.

NSSIF is the Government’s corporate venturing arm for dual-use advanced technologies, which invests in technology firms alongside other investors, supporting long-term equity investment.

Octopus Ventures is one of Europe’s largest and most active Venture Capital firms investing in health, money, deep tech and B2B startups.

#quantumcomputing #deeptech #financing

Articles by Bradley Heath