Bosch Ventures, Porsche SE lead latest Quantum Motion funding
UK-based quantum computing firm Quantum Motion, which aims to leverage silicon transistor manufacturing processes for quantum computers, has raised more than £42 million (about U.S. $50.5 million) in equity funding from a round led by Bosch Ventures (RBVC), along with Porsche Automobil Holding SE (Porsche SE) and British Patient Capital.
The company said all existing investors from earlier rounds, includingOxford Science Enterprises, Inkef, Parkwalk Advisors, Octopus Ventures, IP Group, and NSSIF, also participated in the new funding. Quantum Motion has now raised a total of about £62 million (U.S. $74.5 million).
The money will help the company “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,” according to a statement
The statement added, “Over the last two years the company has made a series of peer-reviewed and record-breaking achievements that underline how silicon could be the fastest, most cost-effective and scalable way of producing the millions of qubits that are needed to create fully-functional, fault tolerant quantum computers… It has designed and validated integrated circuits capable of generating, routing and processing signals at deep cryogenic temperatures, operating down to a few tenths of a degree above absolute zero. Recent demonstrations such as the mass characterisation of thousands of multiplexed quantum dots fabricated in a tier one foundry have further underlined the company’s advantage.”
Quantum Motion CEO James Palles-Dimmock said, “The support of leading technology investors enables us to realize our vision of a quantum computer built using standard foundry processes. This support, along with the continuing UK national quantum programme and European initiatives, provides a step-change in our capabilities. We have assembled a world leading team and with the funding and support in place, we are ready to scale and deliver on our vision.”
Ingo Ramesohl, Managing Director, Bosch Ventures, added, “CMOS-based quantum computing leverages today’s sophisticated chip manufacturing processes and fabs. Quantum Motion has demonstrated that it can take quantum theory out of a lab into the real world to create a scalable path to a quantum future. We’re excited to join the company and break new ground in the years to come.”
The company previously announced a Series A funding round back in 2020, and more recently said last October that it had achieved a record measurement of quantum devices made on a silicon chip.
Dan O’Shea has covered telecommunications and related topics including semiconductors, sensors, retail systems, digital payments and quantum computing/technology for over 25 years.