Quantinuum raises $300m at a $5bn valuation led by JPMorgan Chase
JPMorgan Chase led the $300m equity financing to support the development of fault-tolerant quantum computers.
Cambridge-based quantum computing company developing hardware and software systems for commercial applications.
Quantinuum has raised $300m in its first equity financing round since the merger of Cambridge Quantum Computing and Honeywell Quantum Solutions. JPMorgan Chase led the investment, with additional backing from Honeywell, Mitsui, and Amgen. The transaction values the business at $5bn prior to the new injection.
The firm intends to direct the proceeds towards accelerating the development of universal fault-tolerant quantum hardware and broadening its commercial software capabilities. This brings the total capital secured by the business to $625m since formation.
From the founder
"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."
Rajeeb Hazra
CEO at Quantinuum
Investor perspective
"Financial services has been identified as one of the first industries that will benefit from quantum technologies. 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."
Lori Beer
Global Chief Information Officer, JPMorgan Chase
Use of funds
- 01Continue product development
Investors
About the company
Quantinuum
Building advanced quantum computing systems and software infrastructure.