Quantum computing firm Quantinuum raises $600M at a $10B pre-money valuation – News

Quantinuum Ltd., an integrated quantum computing company majority-owned by Honeywell International Inc., announced today it raised $600 million in equity capital to advance and scale its cutting-edge trapped-ion quantum computer technology stack.

The raise brings the firm to $10 billion in pre-money valuation, doubling its valuation after a previous $300 million round in early 2024. Nvidia Corp.’s venture capital arm NVentures, Quanta Computer and QED Investors joined the round as new investors, alongside existing backers Morgan Private Ventures, Mesh Ventures, Korea Investment Partners and Honeywell.

Quantinuum was established in 2021 through the merger of Honeywell Quantum Solutions, a United States-based developer of quantum computing hardware, and Cambridge Quantum, a United Kingdom-based provider of quantum software solutions. At the time of its launch, Honeywell made a substantial initial investment and provided manufacturing support, which it continues to offer.

The company develops both the hardware and software needed to execute quantum calculations. It offers a family of quantum computers known as the H-Series, with System Model H2 being the newest. The H2-1 supports 56 connected qubits, the logical portion of the computer, providing high-quality error correction and fault tolerance.

In February, the company built and launched the “Reimei” quantum computer in collaboration with Riken, Japan’s largest comprehensive research institution.

Reimei translates to “dawn” in Japanese, which the company said represents the power of the classical-quantum hybrid computing system installed on Riken’s Wako campus in Saitama, Japan. It will combine quantum computing capabilities with the Riken supercomputer Fugaku, which the institute will use to advance scientific discovery across physics, chemistry and other applications.

Quantinuum uses a quantum technology called trapped-ion. Its systems charge ytterbium atoms, making them ions, using electromagnetic fields so that they can be used encoded with quantum information known as qubits.

The company says this design allows for higher fidelity, lower errors and longer coherence. The latter means that trapped ions maintain quantum states longer, allowing quantum programs to run for extended periods and provide more accurate measurements for complex calculations.

For quantum computing developers, the company announced new open-source software tools in August, including an emulator and a programming language. The emulator and language support the company’s Helios quantum hardware-as-a-service offering. The new language, called Guppy, is based on widely recognized Python syntax and provides developers with a familiar logical framework to instruct quantum computers.

Quantinuum has grown its global commercial and academic outreach, in addition to collaborating with Riken. This growth includes forming strategic partnerships with SoftBank Corp., Infineon Technologies AG and the Science and Technology Facilities Council Hartree Center. Further, Quantinuum has also expanded its presence into New Mexico, Qatar, and Singapore.

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