Nu Quantum has closed its £45m series A funding round, signifying the largest ever series A in the quantum sector in the UK.
The funding will accelerate Nu Quantum’s mission to reach fault tolerance by interconnecting quantum processors into a more powerful distributed quantum computer, driving the next phase of product development and deployment, and delivering on an ambitious roadmap to advance quantum networking in both performance and scale.
The investment will also support its international expansion, including the growth of its presence in Europe and the US following the opening of its Los Angeles office in 2024.
Until now, the quantum computing industry has focused on improving individual quantum processors – but achieving real utility and fault tolerance will require scaling to systems with 1000 times more qubits than exist today.
Nu Quantum’s quantum networking stack enables quantum computers to scale by weaving individual processors into a modular, distributed computing fabric.
“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,” says Dr. Carmen Palacios-Berraquero, founder and CEO of Nu Quantum.
“We’ve made great strides in shaping the market and the technology since then. This investment validates our vision and the maturity of our solution as the path to scaling.”
The round was led by National Grid Partners and included participation from Gresham House Ventures and Morpheus Ventures, as well as continued support from existing investors Amadeus Capital Partners, IQ Capital, Ahren Capital, Cambridge Enterprise Ventures, East Innovate, NSSIF and Sumitomo (Presidio Ventures).
“As quantum computing continues to rapidly evolve, we see huge potential for enabling technologies that can address the challenges of scaling and fidelity,” explains Maya Ward, investment director at Gresham House Ventures.
“Nu Quantum offers a compelling path to solving these critical industry pain points and unlocking practical, large-scale quantum advantage.”
Earlier this month, UKTN exclusively revealed that the UK and Germany plans to deepen collaboration on quantum technologies, backed by a £14m funding package.
