• Quantinuum is one of the world’s leaders in quantum computing
• It is working with a range of partners on multiple projects, including Japanese telco SoftBank Corp and Nvidia
• The company has just raised $600m at a valuation of $10bn

AI might be attracting most of the tech investment money right now but the quantum computing sector is also getting a slice of the action, with US/UK specialist Quantinuum having just announced a $600m round that values the company at $10bn. 

Quantinuum was formed in 2021 when Cambridge Quantum, a quantum software, operating systems and cybersecurity specialist, merged with Honeywell Quantum Solutions, a developer of high-performing quantum hardware, based on trapped-ion technologies, with aerospace, industrial automation and energy solutions giant Honeywell taking a majority stake.

In early 2024, Quantinuum raised $500m at a $5bn valuation, with JPMorganChase leading the funding round.

Now the company has raised $600m at a $10bn valuation, with Quanta Computer, NVentures (Nvidia’s venture capital arm), QED Investors, tech venture capital firm Mesh and Korea Investment Partners joining existing shareholders JPMorganChase, Mitsui, Amgen, Cambridge Quantum Holdings, Serendipity Capital and Honeywell in the round. 

Quantinuum president and CEO Dr. Rajeeb Hazra, stated: “We are proud to partner with investors who share deep conviction in our vision for the future of quantum and AI. With the continued support of our customers and supply chain partners, this new funding will further extend our leadership, accelerate our roadmap and strengthen the entire quantum ecosystem.”

The company will use the funds to advance “quantum computing at scale, which includes continued progress toward the upcoming launch of Helios, the company’s next generation quantum computing system that is expected to launch this year. It will also support Quantinuum’s path to becoming the first to perform universal fault-tolerant computing,” the company noted in its funding announcement.  

The company has brokered a number of strategic partnerships “aimed at innovative quantum computing solutions that will expand the capabilities of classical artificial intelligence and realise next-generation technologies,” it stated. 

Among its partners are Nvidia – Quantinuum is a founding collaborator at the Nvidia Accelerated Quantum Research Center – and Japanese telco SoftBank Corp, with which it is exploring a number of next-generation infrastructure and application developments – see SoftBank and Quantinuum team up for quantum computing R&D.

Its partnership with SoftBank includes several key goals, including the development of a quantum datacentre capable of combining the differing but complementary abilities of classical and quantum computers, the use of quantum computing to boost AI algorithms, particularly where large-scale data analysis is concerned, and the exploration of quantum computing-enabled services, such as the provision of quantum computing as a cloud service via subscription-based contracts. Among the most promising areas of the joint R&D processes are those related to the telecom sector, where quantum computing has the potential to enhance network optimisation, increase defences against fraud, improve data security, and detect (and even predict) network problems before they happen.

In addition, of course, the whole telecom sector needs to be aware of quantum computing developments in order to make the appropriate plans for IT and network security in a post-quantum world: Quantum-safe networking is set to be a critical area of next-gen service development for telcos in the coming years, as we highlighted in our recent Quantum-Safe Networking Market Perception Report, which identified the operators and vendors regarded as the sector’s current leaders – see BT, DT seen as quantum-safe networking pioneers and IBM, Nokia top quantum-safe networking ranking

You can find our coverage of all the latest quantum technology-related developments impacting the telecom sector on this dedicated TelecomTV page.   

- Ray Le Maistre, Editorial Director, TelecomTV