Cambridge Quantum Computing successfully raises $45 million

The company is aiming to revolutionise quantum cybersecurity

Cambridge Quantum Computing (CQC) has just successfully raised $45 million, generously given by investors such as Honeywell Ventures, IBM Ventures, JSR Corporation, Serendipity Capital, Alvarium Investments, and Talipot Holdings. This large sum will be used to make commercialising quantum computing a closer reality as well as strengthening the company’s position as a leader in quantum computing software and applications.

‘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.’

Ilyas Khan, CEO of Cambridge Quantum Computing

Khan also elaborated on some of the company’s plans.

‘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> (pron. “ticket”), 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.’

Ilyas Khan, CEO of Cambridge Quantum Computing

CQC launched enterprise-level software products for fields like cybersecurity and quantum diversity during 2020, and many Fortune Global 500 companies from the USA, Europe, and Asia are joining its growing list of clients and partners. This clear approach for quantum-based cybersecurity makes CQC a unique player in the great quantum chessboard. The fact that the company is now worth $450 million after this round of funding is also worthy of attention.

Many of the investors spoke warmly of this round of funding CQC managed to pull off.

‘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.’

Murray Grainger, Managing Director and Head of Honeywell Ventures

‘We have enjoyed our collaborative relationship with Cambridge Quantum throughout the past three years. We’re pleased to be part of this successful financing opportunity and to continue our exciting journey with CQC and other investors.’

Eric Johnson, CEO of JSR Corporation

‘CQC has made significant progress in becoming a global leader in quantum software. There is strong momentum in commercialization across all its products from quantum chemistry to cybersecurity. We have been very impressed with the team and the progress they have made in scientific and engineering development, as well as their execution capability.’

Robert Jesudason, CEO and CIO of Serendipity Capital

‘Our ambition is for the UK to be the No. 1 place to start and grow quantum computing companies. I congratulate CQC on this achievement and I am particularly pleased to see the support of corporate investors of such stature.’

Roger McKinlay, Challenge Director for Quantum Technologies of UK Research and Innovation

More information can be found by visiting here. We have covered one of the programming language frameworks from CQC named t|ket > in our previous articles.