This funding round is notably led by Quantinuum's strategic ally, JPMorgan Chase, and sees contributions from Mitsui & Co., Amgen, and Honeywell, which continues as the majority stakeholder of the company. With this investment, Quantinuum's total capital accumulation since its inception reaches an impressive $625 million.

This fundraising marks Quantinuum’s initial equity round post the fusion of Cambridge Quantum Computing and Honeywell Quantum Solutions in November 2021. The capital will be strategically deployed to hasten the development of the world’s first universal fault-tolerant quantum computers and expand Quantinuum’s software solutions to boost their commercial utility.

JPMorgan Chase, recognised for its elite quantum technology team within the financial sector, has been collaborating with Quantinuum and its predecessor entities since 2020. The firm was among the initial experimental users of Quantinuum’s H-Series quantum processor and is a key corporate user of Quantinuum’s software development kit, “TKET.”

Lori Beer, Global Chief Information Officer at JPMorgan Chase, commented: “Financial services has been identified as one of the first industries that will benefit from quantum technologies. As such, we have been investing in quantum research and our team of experts – led by Dr Marco Pistoia – have made groundbreaking discoveries, partnering with quantum computing leaders like Quantinuum. We look forward to continuing to work together to positively impact our businesses, customers and the industry at large.”

Toru Matsui, Chief Digital Information Officer of Mitsui & Co., Ltd., shared: "We are pleased with our capital contribution to support Quantinuum's new ventures in fault-tolerant quantum computing and quantum software development, which are ushering in the Quantum Era. Mitsui is committed to teaming to promote the introduction of Quantinuum's solutions in Japan and the Asia-Pacific markets."

Quantinuum's CEO, Rajeeb Hazra, expressed: “The confidence in our business demonstrated through this investment by our longstanding strategic partners and industry leaders is a clear indication of the value we will continue to create with the world’s highest performing quantum computers, groundbreaking middleware to accelerate the developer ecosystem and innovative application software to revolutionise fields like cryptography, computational chemistry, and AI.”

Darius Adamczyk, Executive Chairman of Honeywell and Chairman of the Board of Quantinuum, concluded: “The successful completion of this investment round is a testament to Quantinuum’s evolution and maturation in the quantum space. Today’s news signals the extent to which Quantinuum is uniquely positioned to commercialise its innovation and continue their leadership in a rapidly growing market. We look forward to welcoming these partners as investors in Quantinuum, as we all look forward to the tremendous opportunities in the years to come.”

Quantinuum's technologies are currently utilised by leading corporations like Airbus, BMW Group, Honeywell, HSBC, JPMorgan Chase, Mitsui, and Thales. These companies are collaboratively exploring ways to harness quantum capabilities for solving complex global challenges – ranging from designing hydrogen cell batteries for transportation to creating materials for atmospheric carbon sequestration to aid in energy transition. Quantinuum also leads in developing Quantum Natural Language Processing, setting the stage for the next AI generation to be scalable and fit for purpose.

J.P. Morgan Securities LLC acted as the exclusive placement agent for Quantinuum in this financing, while Freshfields Bruckhaus Deringer US provided external legal counsel.