A £260 million Series C funding round has positioned OQC as a leading company in the growing global race to build practical quantum computers; it is the largest fundraise ever completed by a quantum computing company in Europe. Led by Bullhound Capital and including investment from energy giant Chevron, the oversubscribed round signals growing confidence in OQC’s commercial trajectory and technological leadership as quantum computing shifts toward scalable strategic infrastructure. “This funding marks a defining moment for OQC,” says CEO Gerald Mullally. “It gives us the capital to scale internationally, advance our technology roadmap and meet increasing demand from customers seeking secure, scalable access to quantum computing infrastructure.” With deployments already spanning the UK, US, Japan and Spain, OQC is focused on delivering enterprise-grade quantum capability directly into global digital infrastructure.
£260 Million Series C Funding Achieves Quantum Computing Milestone
The quantum computing sector experienced a significant financial increase with OQC securing £260 million in Series C funding, marking the largest such raise for a European quantum computing company to date. This substantial investment signals a clear shift; quantum computing is transitioning from experimental research toward scalable, strategic infrastructure, and OQC is positioned to benefit from this momentum. Led by Bullhound Capital, the oversubscribed round attracted a diverse group of investors, including Chevron, demonstrating interest from the energy industry in the potential of quantum technologies. Beyond financial support, the funding will directly support OQC’s global expansion, specifically scaling quantum infrastructure across key markets and accelerating the development of next-generation systems.
The company intends to deepen research and development efforts, focusing on both hardware and platform capabilities to reinforce its position as a global leader. “OQC’s £260 million funding round is a major vote of confidence in the UK’s quantum sector and shows that the UK continues to be a place where industries of the future are being created,” stated Rachel Reeves, The Chancellor of the Exchequer. OQC differentiates itself as Europe’s first Quantum-Compute-as-a-Service provider, uniquely integrating quantum computers directly into commercial data centers, bringing enterprise-grade quantum capability to global digital infrastructure.
OQC’s Superconducting Systems Enable Quantum-Compute-as-a-Service
OQC is actively establishing itself as a key provider of quantum computing access, differentiating itself by focusing on superconducting systems and direct integration into existing data centers. This approach contrasts with other quantum access models that remain largely experimental or cloud-based. The company’s recent £260 million Series C funding round, the largest of its kind in Europe, underscores a shift toward scalable, strategic quantum infrastructure, moving beyond purely research-focused endeavors. Bullhound Capital led the oversubscribed funding round, demonstrating strong market confidence in OQC’s commercial viability and technological leadership. “OQC is building one of the most compelling quantum computing platforms globally, with the technology, infrastructure and customer focus required to scale,” stated Per Roman, Founder and Managing Partner of Bullhound Capital. The company’s focus isn’t solely on hardware; it’s on building a complete platform capable of delivering practical quantum applications across diverse customer sectors. “This Series C marks an important step in turning quantum computing from a promising technology into a dependable computing capability,” explained Simon Phillips, CTO of OQC, emphasizing the company’s commitment to performance, reliability, and scalability.
OQC’s £260 million funding round is a major vote of confidence in the UK’s quantum sector and shows that the UK continues to be the place where the industries of the future are being created.
OQC’s founder, Dr. Beyond expanding its physical footprint, OQC is prioritizing the development of scalable, fault-tolerant systems, essential for moving beyond current limitations.
This funding marks a defining moment for OQC. It gives us the capital to scale internationally, advance our technology roadmap and meet increasing demand from customers seeking secure, scalable access to quantum computing infrastructure.
Chevron’s participation signals a growing interest from the energy industry, recognizing the potential for quantum computing to address complex optimization problems within resource management and materials science. Peter Leek affirmed the company’s core mission, stating, “OQC was founded to pioneer the future of quantum compute by turning bold innovation into engineered systems that scale.”
OSE has been immensely proud to support OQC at every step of the way – from the early days in the research lab, through the hard yards of translating its foundational science into a growing commercial venture, to it now emerging as a global quantum computing leader.
