OQC (Oxford Quantum Circuits) banked €300.7M (£260M) in a Growth round to scale its quantum computing operations. This significant capital injection represents the largest single investment round for a quantum hardware company in Europe to date.
The Reading-headquartered company designs and builds quantum computers using its proprietary "Coaxmon" technology. This unique three-dimensional architecture simplifies the wiring required for quantum chips, aiming to solve the scalability challenges that typically hinder large-scale quantum processors. Unlike many competitors, OQC focuses on providing "Quantum Computing as a Service" (QCaaS), allowing enterprises to access its hardware through private cloud environments.
The funding arrives as the UK government intensifies its focus on the sector, recently committing £2.5B over the next decade to establish the country as a "quantum-enabled economy". OQC previously made its hardware available via Amazon Braket, making it the first European quantum provider on the AWS platform, and has since expanded its data centre presence into Japan to target global enterprise customers.
The scale of this raise reinforces the UK's position as a primary hub for deep-tech hardware, demonstrating that European firms can secure the heavy industrial capital required to compete with North American and Chinese incumbents in the global quantum race.
Originally reported by Tech Funding News.