OQC Raises £260 Million In Europe’s Largest Ever Private Quantum Computing Funding Round - Pulse 2.0
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OQC has closed an oversubscribed £260 million ($350 million) Series C funding round, the largest ever private funding round for a quantum computing company in Europe. Bullhound Capital led the round, which included investment from the British Business Bank, Fynveur, COFIDES, RCM Private Markets Fund managed by Rokos Capital Management, Alpha Edison, Fulcrum Asset Management, Pentland Ventures, Magdalen College Oxford, and others. Existing investors, including Oxford Science Enterprises, SBI, Chevron Technology Ventures, the University of Tokyo Edge Capital Partners, and OTIF Ventures, also participated. J.P. Morgan acted as the exclusive placement agent. The round establishes OQC as one of the world’s best-capitalized private quantum computing companies. Founded in the UK, OQC develops and operates superconducting quantum computers designed for deployment in data-centre environments serving enterprise and government customers. The company has built a global quantum computing platform across Europe, North America, and Asia, with systems currently deployed in the UK, U.S., Japan, and Spain. Enterprise and government customers across financial services, defense, 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. The raise comes as the UK government has committed up to £2 billion to help UK quantum companies reach commercial scale as part of its broader science and innovation strategy. The round attracted substantial international participation, with Per Roman of Bullhound Capital joining OQC’s board, alongside existing board member Nigel Higgins, Chair of Barclays. The company’s ability to attract capital of this scale reflects growing confidence in the commercialisation of quantum technologies and the UK’s capacity to build globally competitive deep tech companies. KEY QUOTES: “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.” Gerald Mullally, Chief Executive Officer, OQC “OQC 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.” Per Roman, Founding Partner, Bullhound Capital