University of Cambridge quantum spinout nets record $60M Series A

Nu Quantum, a quantum computing spinout from the University of Cambridge, has secured a record-breaking $60 million Series A funding round, the largest of its kind in the UK to date. This investment signals a major step forward in the development of scalable quantum computing infrastructure, a technology poised to revolutionize complex problem-solving. The funding round was led by National Grid Partners, with participation from Gresham House Ventures, Morpheus Ventures, and existing investors including Amadeus Capital Partners. Founded in 2018, Nu Quantum focuses on creating networking architecture capable of connecting quantum processors, aiming to unlock data center-scale quantum computing. Their technology is designed to address the current limitations of quantum computing, where applications require systems significantly more powerful than those currently available. The company plans to utilize the capital for future product development and international expansion, including establishing a stronger presence in both Europe and the US. This development is significant as it accelerates the race to harness the power of quantum computing, with potential applications across various sectors, including finance, drug discovery, and materials science. Nu Quantum's focus on scalable infrastructure positions them to play a crucial role in the future of the industry. The investment also underscores the growing interest in European tech, and its potential to be a global leader in quantum technologies.