Quantum Exponential Group plc,, a U.K. venture capital firm that has invested in several quantum start-ups since early 2022, this week announced its latest move, a £300,000 ($382,000) investment in U.K.-based gravity sensing firm Delta g Ltd.
The investment, which marks Delta g as Quantum Exponential’s seventh portfolio company, was part of an overall £1,500,000 ($1.9 million) pre-seed funding round for Delta g. The start-up, recently spun out of the U.K. Quantum Technology Hub Sensors and Timing at the University of Birmingham, was described in a statement as a “gravity sensing hardware and technology development company that has developed a cutting-edge underground imaging system that leverages quantum technology to measure gravity gradients.”
The pre-seed round was led by Science Creates Ventures, with additional investment from Newable Ventures, Bristol Private Equity Club and angel investors.
The investment comes after Quantum Exponential was featured in an IQT Pro story back in March.
Delta g aims to develop a gravity gradiometer that can be used in applications such as utility mapping, smart cities, smart mining, and building information modeling to scan and map areas below the Earth’s surface. The company, which discussed its technology in a February 2022 paper published in Nature, also said its technology will contribute to “effective monitoring of critical national infrastructure and ground movement from climate change, both in the UK and internationally.”
Quantum Exponential CEO Steve Metcalfe, said, “[Chancellor of the Exchequer] Jeremy Hunt’s spring budget highlighted the U.K.’s commitment to become a world-leading ‘quantum-enabled’ economy, and doubled its current investment in the sector. Quantum Exponential shares the same vision and believes that early investment in quantum-focused businesses is pivotal if we are to realize that vision.”
Dan O’Shea has covered telecommunications and related topics including semiconductors, sensors, retail systems, digital payments and quantum computing/technology for over 25 years.