Nu Quantum secures £7m pre-series A funding from Amadeus, Expeditions Fund, and IQ Capital to scale quantum networks
The pre-series A round was led by Amadeus Capital Partners, Expeditions Fund, and IQ Capital.
A Cambridge-born startup developing quantum networking technology to connect separate processors into a distributed network.
Nu Quantum has secured £7m in a pre-series A financing round led by Amadeus Capital Partners, Expeditions Fund, and IQ Capital. The raise also drew participation from new backers including Presidio Ventures, the National Security Strategic Investment Fund, and Deeptech Labs, alongside follow-on commitments from existing seed investors including Ahren Capital, Seraphim Capital, the University of Cambridge, and Martlet.
The Cambridge-based quantum networking company intends to use the capital to deepen academic and corporate partnerships while accelerating the commercial deployment of its quantum networking hardware. The business previously raised a £2.1m seed round in September 2020 to support its initial expansion.
From the founder
"Large-scale, fault-tolerant quantum computing will bring about the technological revolution of our generation. We have built an exceptional team dedicated to the mission of building the quantum networking infrastructure necessary to make this a reality. We are grateful to the investors who share our vision for their support as we scale and commercialise our solution."
Carmen Palacios
Founder and CEO at Nu Quantum
Investor perspective
"The ability to apply quantum computing at scale is what’s needed to unlock the potential of this revolutionary advancement in processing power. Nu Quantum’s systems architecture approach, driven by quantum entanglement, is unique in the market today and has great commercial potential. Further, its product solution is poised to be able to adapt to any type of qubit technology, which makes the impact far-reaching. We are delighted to grow this partnership and work with new and existing investors on this next exciting chapter of Nu Quantum’s journey."
Manjari Chandran-Ramesh
Partner, Amadeus
Investors
Manjari Chandran-Ramesh
Amadeus
Mikolaj Firlej
Expeditions Fund
Kerry Baldwin
IQ Capital
Ahren
Seraphim
University of Cambridge
Martlet
Richard Crosfield
Presidio Ventures
National Security Strategic Investment Fund
Deeptech Labs
About the company
Nu Quantum
Nu Quantum builds distributed quantum computing infrastructure.