London-based Quantum Motion, a quantum computing scale-up, announced on Wednesday, May 24, that it has gained the support of prominent investor Sony Innovation Fund.
The Sony Innovation Fund has decided to participate in the second close of the company’s funding round announced in February 2023. This funding round has already secured over £42M in equity funding from renowned quantum and technology investors worldwide.
The Sony Innovation Fund joins existing investors Bosch Ventures (RBVC), Porsche Automobil Holding SE (Porsche SE), British Patient Capital, Oxford Science Enterprises, Inkef, Parkwalk Advisors, Octopus Ventures, IP Group, and NSSIF.
With this investment addition, Quantum Motion’s total funding combining equity and grant funding exceeds £62M.
Quantum Motion: Developing Fault-tolerant quantum processors
Founded by Professor John Morton of University College London (UCL) and Professor Simon Benjamin of Oxford University, Quantum Motion is developing fault-tolerant quantum computing architectures compatible with CMOS processes.
Fault-tolerant quantum processors will support the most powerful quantum algorithms, targeting solutions to currently intractable problems in fields as diverse as chemistry, materials science, medicine, and artificial intelligence.
The company employs 40 people, including specialists in quantum theory, engineering and software.
James Palles-Dimmock, CEO of Quantum Motion, says, “We’re delighted to have Sony Innovation Fund on board as an investor, and to have access to its global network of resources, technical expertise, and industry insights. Alongside our existing investors, their support will help us scale silicon-based quantum computers development.”
Sony Innovation Fund brings value through its technical expertise and industry insights on CMOS semiconductor design and manufacturing, says the UK company.
Antonio Avitabile, Managing Director-EU, Sony Ventures Corporation, says, “We are actively exploring investments in technologies that will be transformational with wide-ranging applications. Quantum computing has the potential to have that impact, and we want to work with companies that are best positioned to bring it to commercial scale. As our first investment in the quantum technologies space, Quantum Motion is already demonstrating tremendous advancement and leadership, and we are excited to help fuel their next stage of growth.”