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Connects decision-makers and solutions creators to what's next in quantum computing
Investors include JPMorgan Chase, Mitsui and Honeywell
January 16, 2024
Integrated quantum computing company Quantinuum has announced a $300 million fundraising round, valuing the company at $5 billion.
The new funding was led by Quantinuum’s strategic partner JPMorgan Chase, with additional participation from Mitsui & Co., Amgen and Honeywell. This investment brings the total capital raised by Quantinuum since inception to approximately $625 million.
Quantinuum CEO Rajeeb Hazra said: “The confidence in our business demonstrated through this investment by our longstanding strategic partners and industry leaders is a clear indication of the value we will continue to create with the world’s highest performing quantum computers, groundbreaking middleware to accelerate the developer ecosystem and innovative application software to revolutionize fields like cryptography, computational chemistry and AI.”
This funding round was the company’s first since Quantinuum was founded through a merger between Honeywell Quantum Solution and Cambridge Quantum in 2021. While it is now a standalone company, Honeywell remains the majority shareholder.
Quantinuum and JPMorgan Chase have been collaborating to provide quantum technologies to financial service industry clients since 2020, using Quantinuum’s H-Series quantum processor and TKET software development kit.
“Financial services has been identified as one of the first industries that will benefit from quantum technologies,” said JPMorgan Chase global chief information officer Lori Beer.
“As such, we have been investing in quantum research and our team of experts – led by Dr. Marco Pistoia – have made groundbreaking discoveries, partnering with quantum computing leaders like Quantinuum. We look forward to continuing to work together to positively impact our businesses, customers and the industry at large.”
Editor, Enter Quantum
Berenice is the editor of Enter Quantum, the companion website and exclusive content outlet for The Quantum Computing Summit. Enter Quantum informs quantum computing decision-makers and solutions creators with timely information, business applications and best practice to enable them to adopt the most effective quantum computing solution for their businesses. Berenice has a background in IT and 16 years’ experience as a technology journalist.
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