OQC has raised £260 million in an oversubscribed Series C funding round, described as Europe's largest ever private funding round for a quantum computing company. The round was led by Bullhound Capital, with participation from the British Business Bank, Fynveur (advised by Invus), COFIDES, RCM Private Markets Fund managed by Rokos Capital Management (US) LP, Alpha Edison, Fulcrum Asset Management, Pentland Ventures, Magdalen College Oxford, Adaptive Capital Partners, Firgun Ventures, 18 West and Oxford Capital. Existing investors Oxford Science Enterprises, SBI, Chevron Technology Ventures, The University of Tokyo Edge Capital Partners Co. and OTIF Ventures also participated. J.P. Morgan acted as exclusive placement agent on the transaction.
Founded in the United Kingdom, OQC develops and operates superconducting quantum computers designed for deployment in data-centre environments serving enterprise and government customers. A global quantum computing platform has been established across Europe, North America and Asia, with systems deployed in the United Kingdom, United States, Japan and Spain. Enterprise and government customers across financial services, defence and security are driving demand for OQC's systems as they seek secure, scalable quantum infrastructure to tackle problems beyond the practical reach of classical computing.
The funding will be used to expand OQC's operational presence in priority markets and accelerate its roadmap toward commercially useful, fault-tolerant quantum computing, including the development of OQC TITAN. Per Roman, Founding Partner of Bullhound Capital, is joining the board of OQC as part of the round.
OQC's growth aligns with the UK government's ambitions to establish leadership in quantum technologies as part of its broader science and innovation strategy. The UK government has committed up to £2 billion to ensure UK quantum companies can successfully reach commercial scale. The announcement was highlighted during the Prime Minister's London Tech Week speech, placing OQC at the centre of discussions around the UK's role in next-generation computing and advanced technologies. The quantum computing market is expected to reshape industries from finance to national security.
This is a coming-of-age moment for British quantum computing. It shows that British companies can play a leading role in a technology that will shape all our futures. Globally, it represents a clear shift in the market – from long-term promise to near-term delivery in quantum computing. For OQC, this gives us the capital to scale internationally, advance our technology roadmap, and meet increasing demand from customers seeking secure, scalable access to quantum computing infrastructure.
OQC was founded to use innovative quantum circuit designs to build engineered systems that scale as simply as possible. I'm proud to be part of the incredible team we have today doing exactly that, to pioneer the future of quantum computing. This investment supports the next stage of our work: advancing system performance and reliability while continuing to integrate quantum computers into the trusted infrastructure customers depend on.
QC is building one of the most compelling quantum computing platforms globally, with the technology, infrastructure and customer focus required to scale. As quantum computing moves into global infrastructure, OQC is positioned to shape that transition. We are pleased to lead this round and support the company's next phase of growth.
Quantum Computing has the potential to solve some of the hardest computing challenges which remain unsolved by AI, but is held back by its ability to scale up. OQC's systems fill that gap with their world leading speed and scalability. We are delighted to be backing the team at OQC again as they scale up their commercial offering with the development of OQC TITAN.
