Quantinuum set for US IPO

Quantinuum was formed when US giant Honeywell acquired Cambridge Quantum Computing in 2021. Cambridge Quantum founder Ilyas Khan has steered the business superbly and in September it was revealed that the company had raised a fresh $600 million at $10 billion pre-money equity valuation.

In early November, Quantinuum officially launched Helios - designed to accelerate quantum computing adoption by global enterprises and revolutionise GenAI.

It was revealed then that global heavyweights such as NVIDIA, Amgen, SoftBank - majority shareholder in Arm - JP Morgan Chase, BMW Group and BlueQubit were among Quantinuum's community of collaborators in growing out the venture into a broader technology world.

With the highest fidelity of any commercial system and a first-of-its-kind real-time control engine, Helios is said to enable developers to program a quantum computer in much the same way they programme heterogeneous classical computers.

From modest roots – having started life in a tiny room in the Cambridge Union Building on Bridge Street – Quantinuum has grown into a unicorn many times over. It is Honeywell's quantum computing unit.

Cambridge already has Arm, Bicycle Therapeutics and RedCloud on the US market.