Oxford Quantum Circuits (OQC) has raised this investment fund from Lansdowne Partners, The University of Tokyo Edge Capital Partners (UTEC), British Patient Capital and existing investors Oxford Science Enterprises (OSE) and Oxford Investment Consultants (OIC). It is the largest Series A fund raise for any UK quantum company. The company will be using the funding to scale up its quantum processors and to expand internationally in the Asia-Pacific region. The company’s processors are based upon superconducting technology, but a distinguishing innovation is something they call Coaxmon. Coaxmon implements three dimensional circuits that can allows them to move control circuity off of the chip that contains the qubits. The company indicates this innovation will allow them to more easily scale the qubit count without degrading qubit quality and control. Earlier this year, OQC announced a partnership with Amazon Web Services (AWS) to make their “Lucy” 8 qubit processor available on AWS’ Braket service. This makes them the first European company to do so and helps end UK end users who are concerned about data residency requirements. You can access OQC’s press release announcing this investment on their website here.
July 5, 2022