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Quantum Motion Raises 42 Million Investment round led by Bosch Ventures

Highly scalable Silicon based Quantum Computers

  • CMOS based electron-spin Quantum Computing enables scaling
  • Bosch Ventures places its third investment in the quantum space
  • Largest funding round in a UK, Quantum Computing scale up

Christoph Ferle

X
Christoph Ferle
Spokesperson Venture Capital

London, UK. 21 February 2023 – Quantum Motion, a UK-based quantum computing scale-up founded by Professor John Morton, UCL, and Professor Simon Benjamin, Oxford University, has raised over £42 million in equity funding from some of the world’s leading quantum and technology investors. The oversubscribed round is led by Bosch Ventures and joined by Porsche Automobil Holding SE (Porsche SE) and British Patient Capital. All existing investors from earlier rounds (Oxford Science Enterprises, Inkef, Parkwalk Advisors, Octopus Ventures, IP Group and NSSIF) are again participating. This is one of the most significant raises in UK quantum computing and allows Quantum Motion to accelerate its development of silicon quantum processors by developing deeper ties with its manufacturing partners and trebling the size of its central London headquarters.

Quantum computers offer an opportunity for transformative computing power with the potential to disrupt sectors ranging from energy and pharmaceuticals to finance and logistics. Quantum Motion’s vision is to develop scalable quantum computers by harnessing highly advanced silicon transistor manufacturing processes. Over the last two years the company has made a series of peer-reviewed and record-breaking achievements that underline how silicon could be the fastest, most cost-effective and scalable way of producing the millions of qubits that are needed to create fully-functional, fault tolerant quantum computers.

Quantum Motion’s latest funding round brings the total raised to more than £62 million. The company has previously raised over £20m in equity and grant funding from the UK and EU and existing investors which have supported the company through its early-stage work and growth, enabling it to hit a sequence of milestones that demonstrate a clear path towards building quantum computers. It has designed and validated integrated circuits capable of generating, routing and processing signals at deep cryogenic temperatures, operating down to a few tenths of a degree above absolute zero. Recent demonstrations such as the mass characterization of thousands of multiplexed quantum dots fabricated in a tier one foundry have further underlined the company’s advantage.

James Palles-Dimmock, CEO of Quantum Motion, said, “The support of leading technology investors enables us to realize our vision of a quantum computer built using standard foundry processes. This support, along with the continuing UK national quantum programme and European initiatives, provides a step-change in our capabilities. We have assembled a world leading team and with the funding and support in place, we are ready to scale and deliver on our vision.”

“CMOS based quantum computing leverages on today’s sophisticated chip manufacturing processes and fabs,” says Ingo Ramesohl, Managing Director Bosch Ventures. “Quantum Motion has demonstrated that it can take quantum theory out of a lab into the real world to create a scalable path to a quantum future. We’re excited to join the company and break new ground in the years to come.” Among other things Bosch wants to use quantum computing simulation of materials to find surrogates for the precious metals and rare earths in carbon-neutral powertrains.

Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, energy efficiency, enabling technologies, and healthcare systems. RBVC also invests in services and business models that are relevant to the above-mentioned areas of business. Furthermore, RBVC enables co-innovation between Bosch and startup through the Open Bosch Program.

Additional information is available at www.rbvc.com

About Quantum Motion
Founded in 2017, Quantum Motion is developing the building blocks for quantum computers out of silicon. Compared with other exotic materials and methods, silicon has numerous advantages: it is a proven technology in computing, uses ubiquitous materials and existing industrial manufacturing processes. Consequently, silicon could be the fastest, most cost-effective and scalable way of producing the millions of qubits that are needed to create fully functional, fault tolerant quantum computers. The company is led by founders Prof. Simon Benjamin (Oxford University), Prof. John Morton (UCL) and CEO Dr. James Palles-Dimmock and chaired by Alberto Sangiovanni-Vincentelli.

Quantum Motion’s latest funding round takes the total raised to £62 million. The company has previously raised over £20m in equity and grant funding, with venture backing from INKEF, IP Group, NSSIF, Octopus Ventures, Oxford Sciences Enterprises and Parkwalk Advisors.

The Bosch Group is a leading global supplier of technology and services. It employs roughly 429,000 associates worldwide (as of December 31, 2023). The company generated sales of 91.6 billion euros in 2023. Its operations are divided into four business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Building Technology. With its business activities, the company aims to use technology to help shape universal trends such as automation, electrification, digitalization, connectivity, and an orientation to sustainability. In this context, Bosch’s broad diversification across regions and industries strengthens its innovativeness and robustness. Bosch uses its proven expertise in sensor technology, software, and services to offer customers cross-domain solutions from a single source. It also applies its expertise in connectivity and artificial intelligence in order to develop and manufacture user-friendly, sustainable products. With technology that is “Invented for life,” Bosch wants to help improve quality of life and conserve natural resources. The Bosch Group comprises Robert Bosch GmbH and its roughly 470 subsidiary and regional companies in over 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. Bosch’s innovative strength is key to the company’s further development. At 136 locations across the globe, Bosch employs some 90,000 associates in research and development, of which nearly 48,000 are software engineers.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com.

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