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Cambridge Quantum Computing nets $45m





Quantum computing is operating very far from the consumer sphere - so far
Quantum computing is operating very far from the consumer sphere - so far

Cambridge Quantum Computing (CQC) has successfully completed a $45m financing from investors including Honeywell Ventures, IBM Ventures, JSR Corporation, Serendipity Capital, Alvarium Investments and Talipot Holdings.

Founded in 2014, CQC has offices in Cambridge – on the second floor of the Cambridge Union Society on Bridge Street – London and Chessington in the UK, plus San Francisco and Washington DC in the US and in Tokyo, Japan. A team of more than 130 professionals has established a significant position in quantum computing software and applications.

In 2020, CQC launched enterprise-level software products in the areas of cybersecurity and quantum chemistry, as well as adding to its growing roster of Fortune Global 500 customers and partners from the US, Europe and Asia.

“As quantum hardware continues to advance and scale, enterprise customers across a variety of sectors are starting to appreciate just how significantly quantum computing will impact on their operations, and we have started to see the benefits of our product-first focus,” said Ilyas Khan, CEO of Cambridge Quantum Computing. “From cybersecurity to quantum chemistry and materials discovery using our class-leading software platform ‘EUMEN’ and our widely integrated quantum software development toolkit, t|ket> – pronounced ‘ticket’ – CQC is at the forefront of the quantum computing industry.

“Having support from investors with an absolute alignment of interest is crucial to long-term success.”

Ilyas Khan, CEO of Cambridge Quantum Computing
Ilyas Khan, CEO of Cambridge Quantum Computing

Murray Grainger, managing director and head of Honeywell Ventures, said: “We are pleased to have added to our earlier investment in CQC. CQC has a world-class team, an ambition that matches this exciting sector, and critical tools that add real value to the quantum computing industry.”

Robert Jesudason, CEO and CIO of Serendipity Capital, said: “CQC has made significant progress in becoming a global leader in quantum software. There is strong momentum in commercialisation across all its products from quantum chemistry to cybersecurity.”

Roger McKinlay, challenge director for Quantum Technologies of UK Research and Innovation, said: “Our ambition is for the UK to be the number one place to start and grow quantum computing companies.

“I congratulate CQC on this achievement and I am particularly pleased to see the support of corporate investors of such stature.”

This week CQC announced the appointment of Duncan Jones as head of the company’s quantum cybersecurity business.

Duncan, a computer science graduate from the University of Cambridge, has extensive commercial experience working for technology companies including Thales and Arm.

Ross Duncan, of Cambridge Quantum Computing
Ross Duncan, of Cambridge Quantum Computing

He said: “I am excited and honoured to join the team at CQC at this time of strong momentum. There are so many potential applications of CQC’s technology today in finance, science and in particular cybersecurity.

“I am attracted by CQC’s approach that is described succinctly as ‘Science led; Enterprise driven.’”

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