Nu Quantum Secures £7m in Pre-Series A Funding

Nu Quantum, the Cambridge-based quantum networking company, has recently secured £7M in a pre-series A funding round. The round was led by Amadeus Capital Partners, Expeditions Fund, and IQ Capital, with increased commitment from seed investors Ahren Innovation Capital, Seraphim Capital, University of Cambridge, and Martlet. Additionally, new investors joining the round include Presidio Ventures backed by Sumitomo Corporation, the National Security Strategic Investment Fund (NSSIF), and Deeptech Labs.

Nu Quantum is at the forefront of developing scalable quantum networking, which is crucial for the advancement of practical quantum computing and the realization of its full potential in various applications. Currently, quantum computers have limited capabilities due to the challenges in assembling a sufficient number of qubits, their fundamental building blocks, to solve complex problems. Nu Quantum's approach involves interconnecting multiple smaller cores, each containing tens to thousands of qubits, through a scalable quantum network. The company's Quantum Networking Unit (QNU) efficiently scales discrete Quantum Processing Units (QPUs) to create a more powerful and useful quantum computer. Moreover, Nu Quantum's technology is compatible with different qubit modalities, accelerating the time to market for transformative quantum computing.

This latest funding round follows a successful £2.1M seed round completed in September 2020, which enabled the company's significant expansion and ongoing recruitment efforts. The additional funding will further strengthen key partnerships with academic institutions and corporations, as well as expedite the development of robust and deployable quantum systems.

Dr. Carmen Palacios, Founder and CEO of Nu Quantum, expressed her enthusiasm, stating, "Large-scale, fault-tolerant quantum computing will bring about the technological revolution of our generation. We have assembled an exceptional team dedicated to building the necessary quantum networking infrastructure to make this a reality. We are grateful to the investors who share our vision and support us as we scale and commercialize our solution."

Dr. Manjari Chandran-Ramesh, Partner at Amadeus Capital Partners, highlighted the significance of applying quantum computing at scale and praised Nu Quantum's unique systems architecture approach driven by quantum entanglement. She emphasized the commercial potential of their product solution, which can adapt to any type of qubit technology, making its impact far-reaching. Dr. Chandran-Ramesh expressed excitement about growing the partnership and collaborating with both new and existing investors in this next chapter of Nu Quantum's journey.