Universal Quantum raises $100m for trapped-ion quantum computing

Universal Quantum, the UK and German trapped-ion quantum computing startup, has secured $100 million in Series A funding.

The company notes it is the largest Series A ever raised by a quantum firm headquartered in the UK.

The funding will boost the company’s global expansion, it says. Specifically, the development and commercialisation of its modular technology, and a path towards fault-tolerant quantum computing.

Universal Quantum

“Universal Quantum’s progress reflects our partners’ belief that we represent one of the most credible paths to quantum computing at scale,” said Dr Sebastian Weidt, CEO and co-founder of Universal Quantum, pictured.

“This round unites an extraordinary group of investors from the world’s most important pools of capital around a single mission: delivering utility-scale quantum computing.”

Investment

The funding round was co-led by DCVC and Firgun Ventures.

Also participating were EDBI, Artal (advised by Invus), Integral GlobalTech, Main Sequence, Hostplus, NGS Super, IAG Capital, EdenBase, Eigenstate Holdings, SiteGround Capital and Dave Baszucki (the founder and CEO of Roblox).

Among those backers, Firgun Ventures highlighted Universal Quantum as being pioneers in their field.