Nu Quantum has closed its £45m collection A funding spherical, signifying the most important ever collection A within the quantum sector within the UK.
The funding will speed up Nu Quantum’s mission to succeed in fault tolerance by interconnecting quantum processors right into a extra highly effective distributed quantum pc, driving the following section of product improvement and deployment, and delivering on an formidable roadmap to advance quantum networking in each efficiency and scale.
The funding may even assist its worldwide enlargement, together with the expansion of its presence in Europe and the US following the opening of its Los Angeles workplace in 2024.
Till now, the quantum computing trade has centered on enhancing particular person quantum processors – however reaching actual utility and fault tolerance would require scaling to programs with 1000 instances extra qubits than exist as we speak.
Nu Quantum’s quantum networking stack allows quantum computer systems to scale by weaving particular person processors right into a modular, distributed computing cloth.
“After we launched seven years in the past, only a few have been fascinated with networked or distributed quantum computing as a method for scaling, however we noticed it as some of the pressing and difficult excellent issues within the trade, and got down to clear up it,” says Dr. Carmen Palacios-Berraquero, founder and CEO of Nu Quantum.
“We’ve made nice strides in shaping the market and the know-how since then. This funding validates our imaginative and prescient and the maturity of our answer as the trail to scaling.”
The spherical was led by Nationwide Grid Companions and included participation from Gresham Home Ventures and Morpheus Ventures, in addition to continued assist from current traders Amadeus Capital Companions, IQ Capital, Ahren Capital, Cambridge Enterprise Ventures, East Innovate, NSSIF and Sumitomo (Presidio Ventures).
“As quantum computing continues to quickly evolve, we see enormous potential for enabling applied sciences that may tackle the challenges of scaling and constancy,” explains Maya Ward, funding director at Gresham Home Ventures.
“Nu Quantum presents a compelling path to fixing these essential trade ache factors and unlocking sensible, large-scale quantum benefit.”
Earlier this month, UKTN completely revealed that the UK and Germany plans to deepen collaboration on quantum applied sciences, backed by a £14m funding bundle.
