Quantum Motion, a UK-based quantum computing company, has raised £42 million ($50.5 million) in an equity funding round led by Bosch Ventures (RBVC), with participation from Porsche, the UK government’s National Security Strategic Investment Fund (NSSIF), and additional investors. Quantum computing, which builds on principles borrowed from quantum mechanics, has a focus on quantum bits (qubits) rather than atoms, promising to advance what’s possible with computers by performing complex calculations in a fraction of the time. Quantum Motion is setting out to create scalable quantum computers through new quantum computing architectures that are compatible with established silicon processing.
Quantum Motion has raised £42 million ($50.5 million) in an equity funding round. The round was led by Bosch Ventures (RBVC), with participation from Porsche, the UK government’s National Security Strategic Investment Fund (NSSIF), and additional investors.
The investors in Quantum Motion’s equity funding round include Bosch Ventures (RBVC), Porsche, the UK government’s National Security Strategic Investment Fund (NSSIF), and other investors. The funding will be used to develop scalable quantum computers that are compatible with established silicon processing.
Quantum Motion was founded in 2017 by Professors John Morton and Simon Benjamin from UCL and Oxford University, respectively. The company is creating scalable quantum computers through new quantum computing architectures that are compatible with established silicon processing. To overcome the issue of heat adversely impacting the qubits in quantum computing, Quantum Motion has designed integrated circuits that can generate, route, and process signals at deep cryogenic temperatures, operating at just a few tenths of a degree above absolute zero.
Quantum Motion’s CEO James Palles-Dimmock believes that quantum computers will think in totally different ways than computers do today. The earliest impact of quantum computing will be in areas related to materials science, energy materials, chemistry such as drug discovery, and optimization, possibly stretching to logistics and transport. Quantum Motion’s approach to quantum computing shows promise, as their silicon-based quantum chips are typically a few millimeters across, and the cooling system required to operate the chip will have a form factor similar to a standard 19-inch server rack.
