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Nu Quantum has raised £7M in a pre-series A round. The round is led by Amadeus Capital Partners, Expeditions Fund, and IQ Capital, with increased commitment from Seed investors Ahren Capital; Seraphim Capital; University of Cambridge and Martlet. New investors joining the round include Presidio Ventures backed by Sumitomo Corporation, the National Security Strategic Investment Fund (NSSIF), and Deeptech Labs.
Nu Quantum is pioneering the development of scalable quantum networking, essential to delivering useful quantum computing and unlocking the full spectrum of applications that will have a transformative impact on society. Today’s quantum computers have limited capabilities because their fundamental building blocks, qubits, are extremely hard to assemble in numbers large enough (~100,000 to ~1M) to solve truly valuable problems.
Rather than try to create a single large core, a more efficient way to proceed is to interconnect many smaller cores, each containing 10s to 1000s of qubits, using a scalable quantum network. Nu Quantum’s product is a Quantum Networking Unit (QNU) capable of efficiently scaling discrete Quantum Processing Units (QPUs) to form a larger and more useful quantum computer. Nu Quantum’s technology is interoperable with, and can be applied to, different qubit modalities, and will accelerate the time to market of transformative quantum computing.
This new funding follows a £2.1M seed round completed in September 2020, which jump-started the company’s significant expansion and ongoing recruitment activity. It will also deepen key partnerships with academia and corporations and accelerate the availability of robust and deployable systems.
Commenting on the fundraise, Dr. Carmen Palacios, Founder and CEO of Nu Quantum, said: “Large-scale, fault-tolerant quantum computing will bring about the technological revolution of our generation. We have built an exceptional team dedicated to the mission of building the quantum networking infrastructure necessary to make this a reality. We are grateful to the investors who share our vision for their support as we scale and commercialise our solution.”
