UK quantum computing company Quantum Motion has raised £42m ($50.5m) in an equity round led by Bosch Ventures (RBVC). It was joined by Porsche, the UK government’s National Security Strategic Investment Fund (NSSIF). additional investors.
Quantum computing for beginners is built on principles borrowed from quantum mechanics, focusing on quantum bits (qubits) rather than atoms, and by performing complex computations in a fraction of the time. , is committed to advancing what is possible with computers. Use cases may include accelerating drug discovery or powering the massive amounts of data processing required for AI applications.
“Quantum computers will think in a very different way than computers do today,” James Palles-Dimmock, CEO of Quantum Motion, told TechCrunch. “A problem that would take thousands of years to decipher on a supercomputer could be solved by a quantum computer in minutes. sector and could extend to logistics and transportation.”
Founded in 2017 by Professors John Morton and Simon Benjamin of UCL and University of Oxford respectively, Quantum Motion sets out to create a “scalable quantum computer” through a new quantum computing architecture compatible with established silicon processing. doing.
As with ordinary computers, heat adversely affects qubits in quantum computing. This means that quantum computers need to be kept very cool. Quantum Motion says he has designed an integrated circuit that can “generate, route and process signals at cryogenic temperatures” operating at a temperature just 10 minutes above absolute zero.
“Our silicon-based quantum chips are typically a few millimeters wide, and we expect the cooling system required to run the chips will be a form factor similar to a standard 19-inch server rack,” said Dr. Palles-Dimmock said. “Behind our central London location, we were able to demonstrate that our approach to quantum computing does not require data centers the size of football fields or gigantic HE CERN-type facilities. A motive he was one.”
Quantum Motion: working on a dilution refrigerator image credit: quantum motion
what a leap
Quantum Motion’s latest funding comes amid a flurry of activity in the quantum computing space. In the last month alone, French startup Pasqal raised his €100 million, Israel’s Quantum Machines closed a Series B round with his $70 billion, and Australia’s Quantum Brilliance secured his $18 million. . Elsewhere in the past year, Finland’s IQM, France’s Alice&Bob, and UK-based Quantum Circuits have all raised significant amounts of VC cash.
Quantum Motion and its ilk also face a lot of competition in the big tech space, including IBM, which recently unveiled its 433-qubit Osprey quantum computer. And last year, after Alphabet spun out Sandbox AQ as a standalone, Google acquired a new quantum computing sibling. The company is looking to raise $500 million in funding last week. Elsewhere, other tech companies such as Microsoft and Intel are also investing heavily in quantum.
So what can Quantum Motion and its up-and-coming peers bring to the mix that the wealthy giants can’t?
“Compared to the big tech companies, our advantage is that we are agile, single-goal focused, and have a team that rivals the best in the world,” said Palles-Dimmock. . “We have a highly skilled team across multiple disciplines including IC (instrumentation and control) engineering, quantum theory, hardware and software, and deep relationships with world-class universities that help us find talent. I have.”
Quantum Motion CEO James Palles-Dimmock with co-founders Prof. John Morton (CTO) and Prof. Simon Benjamin (CSO) image credit: quantum motion
Quantum Motion has raised about $24 million in equity and ground funds to date, and plans to use the new funding to accelerate development of its silicon quantum processors by building “deeper relationships” with manufacturers. said. In fact, strategic investors in startups such as Bosch and Porsche have provided some clues about the impact Quantum Motion will have on the industry. Optimize materials at the molecular level to improve energy density.
But the true possibilities are virtually limitless, and it’s hard to imagine how quantum computing could be transformative.
“Like computing in the early 1960s, it was difficult to predict exactly what wonders computing would bring, but computing revolutionized our society,” Palles-Dimmock said. said. “Only when computers were in the hands of people around the world did we really get creative and push the boundaries of what computers could do. We know they’re transformative, but we don’t know how transformative they are until we get there.”
It is worth noting that although quantum computing is advancing at breakneck speed, it is still in its relatively early stages, and overall all current research and development work is still years away. there is a possibility.
“There are many quantum computing companies today, all in R&D mode,” Palles-Dimmock said. “Investors know it takes time.It may be a decade before he has a truly impactful quantum computer.With this funding, we are strengthening our relationships with our manufacturing partners. , we can demonstrate a prototype that can be scaled to millions of qubits.”
Quantum Motion’s latest funding injection included donations from Octopus Ventures, Oxford Sciences Enterprises, British Patient Capital, Inkef, Parkwalk Advisors, and IP Group.
