British firm Nu Quantum raises $60 million in Series A

UK firm Nu Quantum has closed its oversubscribed USD 60 million Series A funding round led by National Grid Partners, including participation from Gresham House Ventures and Morpheus Ventures, and continued support from existing investors Amadeus Capital Partners, IQ Capital, Ahren Capital, Cambridge Enterprise Ventures, East Innovate, NSSIF and Sumitomo (Presidio Ventures). 

The funding will accelerate Nu Quantum’s mission to reach fault tolerance by interconnecting quantum processors into a more powerful distributed quantum computer, the company said.  

Nu Quantum’s quantum networking stack opens a new approach: enabling quantum computers to scale by weaving individual processors into a modular, distributed computing fabric. Networking has played a critical role in the classical computing industry, enabling Cloud and AI data centers, and high performance computing. 

Nu Quantum’s belief is that the mass commercialisation of quantum computing will happen via distributed architectures in quantum data centers, underpinned by Nu Quantum’s networking infrastructure — the Entanglement Fabric. Nu Quantum’s architecture is adaptable to support scaling for multiple different Qubit modalities, the company said.

“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,” Dr. Carmen Palacios-Berraquero, Founder and CEO of Nu Quantum, said. “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.”  

“We are closer to quantum computing having an impact on businesses and lives than many people think,” Steve Smith, Chief Strategy and Regulation Officer of National Grid and President of National Grid Partners, said. “Nu Quantum is at the forefront of bringing this powerful technology closer to market and using it to solve real-world challenges today.”

“As quantum computing continues to rapidly evolve, we see huge potential for enabling technologies that can address the challenges of scaling and fidelity,” Maya Ward, Investment Director at Gresham House Ventures, said. “Nu Quantum offers a compelling path to solving these critical industry pain points and unlocking practical, large-scale quantum advantage.”