Nu Quantum, a company that originated from the University of Cambridge, has secured $60 million in Series A funding to advance its quantum computer networking technology. This investment marks the largest early-stage funding round for a quantum company in the United Kingdom.
Quantum computers are expected to address complex problems that traditional supercomputers cannot solve. These applications include atomic-level molecular modeling and optimizing systems with millions of interconnected variables, such as electric grids or financial markets. While much of the industry has focused on improving individual quantum processors, Nu Quantum is pursuing a different strategy by developing networking technology that connects multiple processors into a distributed computing system.
Dr Carmen Palacios-Berraquero, Founder and CEO of Nu Quantum, commented: “This investment validates our vision and the maturity of our solution as the path to scaling. I’d like to warmly thank the Nu Quantum team for their achievements, and our investors for their support. When we launched seven years ago, very few were thinking about networked or distributed quantum computing as a strategy for scaling, but we saw it as one of the most urgent and challenging outstanding problems in the industry, and set out to solve it.
“We’ve made great strides in shaping the market and the technology since then. As we’ve grown, I’m proud we have created a culture defined by fearless innovation, and fuelled by collaboration and diversity under a shared mission to accelerate quantum computing for good. This investment validates our vision and the maturity of our solution as the path to scaling. I’d like to warmly thank the Nu Quantum team for their achievements, and our investors for their support.”
Christine Martin, Head of Ventures at Cambridge Enterprise, said: “This is a landmark moment for Nu Quantum and for the UK’s quantum community. An oversubscribed $60 million Series A underscores the depth of confidence in Nu Quantum’s technology. We’re proud to have supported the team from the earliest stages of their journey, and we’re delighted to continue to do so as they scale their vision for distributed quantum computing. Huge congratulations to Carmen and the entire Nu Quantum team – we’re thrilled to stand alongside you for the road ahead.”
The new funding will be used by Nu Quantum to further develop its products and expand internationally into Europe and North America.
The company’s approach aims at enabling large-scale quantum computers by linking smaller units through advanced networking solutions.
The information was adapted from an announcement first published by Cambridge Enterprise.