Quantinuum Ltd. is a quantum computing company that harnesses the power of quantum mechanics for practical applications. Quantum processors leverage the principles of superposition and entanglement to perform complex calculations at speeds unimaginable with classical computers. The company aims to bolster its software offerings to ensure seamless integration with real-world applications.
Quantinuum has raised $300 million at a pre-money valuation of $5 billion. The new round was led by JPMorgan Chase, with additional participation from Mitsui & Co., Amgen, and Honeywell, which remains the company’s majority shareholder. Quantinuum intends to use the fresh funding to support its quantum hardware development efforts. Furthermore, it plans to invest a portion of the funding will be invested to enhance the company’s software portfolio with the goal of improving “commercial applicability”.
Quantinuum, Broomfield, Colorado, United States, was founded in 2021 by Ilyas Khan. “The confidence in our business demonstrated through this investment by our longstanding strategic partners and industry leaders is a clear indication of the value we will continue to create,” said Quantinuum Chief Executive Rajeeb Hazra.
