On January 9, 2023, Oxford Ionics, a Quantum Computing company focused on solving scalability issues in quantum computing, raised £30 million in Series A funding from a group of investors, including Oxford Science Enterprises, Braavos Investment Advisers, Lansdowne Partners, Prosus Ventures, 2xN, Torch Partners, and Hermann Hauser. The funding will be used to support the company’s efforts to advance the field of quantum computing. So far the funding for Oxford Ionics is £37 million.
- Oxford Ionics’ processor integrates into semiconductor chips by combining qubit technology – trapped ions with (patented) Electronic Qubit Control (EQC) technology.
- The highest-performing quantum systems to date have been powered by trapped ions, and of those systems, Oxford Ionics’ holds multiple world records for quantum gate error rates, quantum coherence times, and quantum networking performance.
- The funding was led by Oxford Science Enterprises and Braavos Investment Advisers, with Lansdowne Partners, Prosus Ventures, Torch Partners, Hermann Hauser (of ARM fame) and 2xN
- It will enable Oxford Ionics to build out its talent team, which has 10 PhDs on the staff and over 130 peer-reviewed publications and help bring its technology to market.
“If we’re to identify and unlock the true power and potential of quantum computing we need to crack the critical issues that are holding it back – scalability, integration and performance. Our unique trapped-ion approach has been developed to address all three. At Oxford Ionics, we’re focused on building technologies that will help quantum computing finish the race, not just take small, incremental steps. Our latest round of funding, and the knowledge, insight and expertise of our new investors bring us even closer to this goal.”
Dr Chris Ballance, co-founder of Oxford Ionics
Oxford Ionics Technology
Oxford Ionics is a company that specializes in developing quantum computing technology using trapped ions (similar to Honeywell and IonQ). Trapped ions are a qubit that can offer many advantages over other qubit types such as quantum operations, longest quantum coherence time, and highest performance quantum network. The company has also demonstrated the highest performance using chips produced on a semiconductor production line.
Oxford Ionics has developed a proprietary and patented system called Electronic Qubit Control (EQC) to control qubits in its trapped-ion quantum processors. This system allows the combination of the high performance of individual atoms with the scalability and reliability of electronics integrated into silicon chips. Oxford Ionics permits its processors to be highly performant, scalable, and integrable. It has been tested in a real-world environment through the company’s partnership with semiconductor manufacturer Infineon Technologies AG. A unique approach in the field of quantum computing, as competing trapped-ion systems have relied on lasers to control qubits, becomes less reliable as the size of the processor increases. Dr Chris Ballance’s research into quantum key distribution was mentioned in the scientific release accompanying the Nobel Prize in Physics.
About the funder Hermann Hauser
“Quantum computing opens up the next frontier in computing power for many industries yet getting there requires the development of qubit technologies that can be built at a massive scale. All without sacrificing power, and while keeping error levels to a minimum. Oxford Ionics’ EQC technology offers a path to bringing the power and potential of trapped ion qubits and integrating it into classical semiconductor processes.”
Niels Nielsen, co-founder of 2xN
Hermann Hauser is an Austrian entrepreneur and technology investor. He co-founded Acorn Computers, which developed and produced a series of popular home computers in the 1980s, including the famous BBC Micro, a familiar feature of the British School classroom. Hauser is also known for co-founding Amadeus Capital Partners, a technology venture capital firm that has invested in several successful technology companies. In addition to his work in the tech industry, Hauser has served as a member of the UK Prime Minister’s Council for Science and Technology and has been involved in various charitable and public service initiatives.
About OSE
Oxford Science Enterprises (OSE) is an investment company created in 2015 to fund and build businesses in collaboration with the University of Oxford. OSE works with the brightest academic minds at the university to develop complex ideas into successful businesses, targeting attractive returns for shareholders. The company focuses on investing in around 40 companies in the Life Sciences, Health Tech, and Deep Tech sectors. It takes a long-term approach, recognizing that it takes time and resilience to bring groundbreaking research to global markets. OSE has invested half a billion in over 80 companies built on Oxford science.
Through its unique approach, developed by some of the world’s best minds in the quantum space, Oxford Ionics is laying the foundations to finally make quantum computing a scalable, integrable and viable option. Building on more than a decade at the forefront of this sector, Chris, Tom and the team have been able to demonstrate, time and again, that their work in the lab can, and will, extend to the real world and we’re thrilled to be joining them on this journey.”
Will Goodlad from Oxford Science Enteprises
About 2xN
2xN is a quantum-inspired single GP technology fund that was co-founded by Lars Fjeldsoe-Nielsen and Niels Nielsen. The fund’s investment thesis emphasizes collaboration, trust, and growth and shares deals with those who can help their portfolio companies scale. This approach allows founders to receive both the reach of institutional investors and the dedicated, hands-on support of angels. 2xN has made 23 early-stage investments to date, including in Cambridge Quantum and has partnerships with investors such as Sequoia, A16Z, Kleiner, Founders Fund, Accel, YCombinator, and Owl Ventures.
