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9 December, 2020 - 11:35 By Tony Quested

Cambridge Quantum Computing completes $45m financing

Cambridge Quantum Computing (CQC) has completed a $45 million financing from investors including Honeywell Ventures, IBM Ventures, JSR Corporation, Serendipity Capital, Alvarium Investments and Talipot Holdings to further accelerate commercialisation and consolidate its leadership position in quantum computing software and applications.

CEO Ilyas Khan said: “As quantum hardware continues to advance and scale, enterprise customers across a variety of sectors are starting to appreciate just how significantly quantum computing will impact on their operations and we have started to see the benefits of our product-first focus.

“From cybersecurity to quantum chemistry and materials discovery using our class-leading software platform ‘EUMEN’ and our widely integrated quantum software development toolkit, t|ket>, CQC is at the forefront of the quantum computing industry. 

“This funding further enables us to advance our ambitious plans. Having support from investors with an absolute alignment of interest is crucial to long-term success.”

In 2020, CQC launched enterprise-level software products in the areas of cybersecurity and quantum chemistry, as well as adding to its growing roster of Fortune Global 500 customers and partners from the US, Europe and Asia.

Murray Grainger, MD and head of Honeywell Ventures, said: “We are pleased to have added to our earlier investment in CQC. CQC has a world-class team, an ambition that matches this exciting sector and critical tools that add real value to the quantum computing industry.”

Founded in 2014 and backed by some of the world’s leading quantum computing companies, CQC is a global leader in quantum software and quantum algorithms, enabling clients to get the best out of rapidly evolving quantum computing hardware. 

CQC has offices in the UK, US and Japan with a team of over 130 professionals.

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