Universal Quantum raises over $100M to scale quantum computing

Universal Quantum has announced that it has secured over USD 100 million in Series A funding. The funding will accelerate the UK-headquartered company’s global expansion, as well as the development and commercialisation of its modular technology, advancing a path towards fault-tolerant quantum computing, Universal Quantum said in a press release.

The round was co-led by DCVC and Firgun Ventures, with participation from EDBI, Artal (advised by Invus), Integral GlobalTech, Main Sequence, Hostplus, NGS Super, IAG Capital, EdenBase, Eigenstate Holdings, SiteGround Capital and Dave Baszucki (founder and CEO of Roblox), as well as other existing and new strategic investors including Nauta Capital and The Venture Collective.

“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. “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.”

The new capital is expected to drive the continued development and commercialisation of Universal Quantum’s modular approach to building the quantum computers needed for practical, error-corrected use. The funding will also support Universal Quantum’s recently announced expansion in Singapore, where it is establishing its first R&D centre outside Europe, as well as expansion in the United States, Japan and across its German hub in Hamburg, the press release said.  

“Universal Quantum brings together world-class scientific leadership with an exceptionally clear approach to quantum computing,” said Zeynep Korutürk, Founding & Managing Partner of Firgun Ventures. “With Europe under pressure to prove it can compete on frontier technologies, we are proud to invest in a European company that has grown into a global player, one that is well positioned to help define the future of industrial-scale quantum computing.”

“True quantum utility will be unlocked by companies that are relentlessly focused on the scalability of their machines," said James Hardiman, General Partner at DCVC. "Universal Quantum's modular architecture addresses the hardest challenges in scaling ion trap systems. Quantum is a global race, and we are pleased to back a team with genuine standing across Europe, Asia-Pacific and North America.” 

Bill Bartee, Managing Partner at Main Sequence, said what set Universal Quantum apart was its ability to win major contracts at this stage of development.

“Universal Quantum stands out for the rigour of its engineering roadmap and for having funded that roadmap through real customer contracts,” said Evren Bilimer, Managing Director at Invus.