300 million! OQC creates the largest Series A funding round in the UK for quantum computing

On July 5, Oxford Quantum Circuits (OQC), a UK-based superconducting quantum computing company, announced that it has raised £38 million (approximately RMB 300 million) in the first deal of an ongoing Series A investment round. This is the largest-ever Series A investment in quantum computing in the UK and will accelerate R&D and expansion in the Asia-Pacific region.

The round was co-led by Lansdowne Partners, one of Europe's leading investment firms, and Edge Capital Partners (UTEC), the University of Tokyo, Japan's largest deep-tech venture capital fund. UK-based Patient Capital and existing investors Oxford Science Enterprises (OSE) and Oxford Investment Counsel (OIC) also continued to invest.

OQC says its proprietary 3D architecture, Coaxmon, offers scalability and best-in-class performance. The funding follows the February 2022 launch of OQC's latest system, Lucy, on Amazon Braket. The company's technology can be used in the financial services, pharmaceutical and logistics industries to increase their competitive advantage.

This Series A investment will be used to further scale the company's quantum systems and its private Quantum Computing-as-a-Service offering. It will also strengthen OQC's position in Europe and accelerate its international expansion in Asia Pacific, including the Japanese market - a hotspot for financial services eager to realize the benefits of quantum computing.

OQC's 8-quantum bit processor Lucy

Ilana Wisby, CEO of OQC, said: "This is the largest ever Series A transaction in the UK quantum computing sector and demonstrates the confidence of our investors in our ability to lead the global quantum industry. It is a testament to the significant technical and commercial advances we have made in recent months, thanks to our world-class team. It is also the first step in our international expansion, putting our customers within reach - wherever they are in the world."

Reference link：

https://oxfordquantumcircuits.com/oqc-series-a-38-million