Quantum Motion Secures $160M Series C Funding with Firgun Ventures: Pioneering Quantum Computing Solutions in Europe
Firgun Ventures, a Quantum fund with a $250 million investment pool, has made its first foray into the European market by participating in Quantum Motion's $160 million Series C funding round. Quantum Motion, a London-based quantum computing scale-up, is focused on developing and deploying full-stack quantum computers using standard 300mm silicon CMOS technology. This technology is aimed at scaling towards millions of qubits to enable fault-tolerant and commercially viable quantum computing solutions.
In addition to Firgun Ventures, the Series C round was co-led by DCVC and Kembara, with participation from the British Business Bank, Oxford Science Enterprises, Inkef, Bosch Ventures, Porsche Automobile Holding SE, and Parkwalk Advisors. Quantum Motion's approach to quantum computing has garnered attention and support from various investors, positioning the company as a key player in the quantum technology space.
Founded in 2017 by Professor John Morton and Professor Simon Benjamin, Quantum Motion has grown to employ over 100 individuals across multiple locations, including the UK, the US, Australia, and Spain. The company's recent milestone of unveiling the world's first full-stack quantum computer on standard silicon chips has positioned it as a leader in the field. This achievement has led to collaborations with research institutions like the National Quantum Computing Centre (NQCC) for applications in areas such as drug discovery.
Quantum Motion's success has also been recognized by the U.S Defense Advanced Research Projects Agency (DARPA), as the company was selected to advance to Stage B of the Quantum Benchmarking Initiative (QBI). This recognition further solidifies Quantum Motion's position as an innovative and impactful player in the quantum computing landscape.
With previous funding rounds totaling over £62 million, including a successful Series B round led by Bosch Ventures and Porsche SE, Quantum Motion has demonstrated its ability to attract strategic investments for rapid expansion and development of its silicon quantum processors. The company's focus on scaling quantum capabilities in the UK aligns with Firgun Ventures' mission to support groundbreaking technologies that address global challenges and drive innovation.
Firgun Ventures, led by Dr. Kris Naudts, is committed to leveraging its expertise and resources to propel Quantum Motion towards global leadership in quantum computing. By investing in companies like Quantum Motion, Firgun Ventures aims to keep Europe at the forefront of the next industrial revolution, unlocking the transformative power of quantum technology for a wide range of applications.
In conclusion, Firgun Ventures' participation in Quantum Motion's Series C funding round marks a significant milestone in the quantum technology landscape. With a focus on scaling quantum computing capabilities and driving innovation, both Firgun Ventures and Quantum Motion are poised to make a lasting impact on the future of quantum technology.