The round was led by Bosch Ventures (RBVC) with additional participation from Porsche Automobil Holding SE (Porsche SE), British Patient Capital and existing investors from earlier rounds Oxford Science Enterprises, Inkef, Parkwalk Advisors, Octopus Ventures, IP Group and NSSIF. This investment is the largest single investment for a quantum company in the UK that we are aware of and brings the total amount invested in the company so far to around £62 ($75M USD).
Quantum Motion was founded in 2017 by Professor John Morton of University College London and Professor Simon Benjamin of Oxford University to develop a quantum processor based upon spin qubit technology and manufactured using high volume semiconductor processes. The company has already demonstrated a few technical achievements including creating a spin qubit with a 9 second relaxation time, building a test vehicle with 1024 quantum dots and measuring them within 12 minutes, and building a 3 x 3 mm2 test chip using standard semiconductor manufacturing technology. Currently, the company employs 40 people and they will be using the funds to accelerate their development efforts, strengthen their ties with Tier 1 semiconductor manufacturing partners, and expand the size of their London headquarters. Additional details about this new funding are available in a news release posted on their website here.
February 21, 2023