Quantinuum secures $600M to advance quantum computing tech

A Honeywell-controlled startup that develops high-performance quantum computers has received $600 million in equity capital through a new round of investments that push its touted market valuation past $10 billion.

The group of investors joining Honeywell in this round include JPMorgan Chase, Mitsui, Amgen, Cambridge Quantum Holdings and Serendipity Capital. All are previous investors in the company. MESH and Korea Investment Partners are new investors.

Quanta Computer, NVentures (NVIDIA’s venture capital arm), and QED Investors also have become shareholders in Quantinuum.

This capital will support Quantinuum's work on quantum computing at scale and help continue work on the development of Helios, the company's next generation quantum computing system. Quantinuum is planning the launch for later this year.

The funding will also support Quantinuum's path in fielding a quantum computer that performs universal fault-tolerant computing. This technique is a holy grail of sorts for quantum computing because it will allow the computers to reliably run complex algorithms and work on problems such as drug development, cryptography and optimization.

“Along with some of the most used developer tools and end-applications such as InQuanto, the company's solutions are driving breakthrough scientific discoveries, economic growth and sustainable development,” Honeywell said in its Thursday announcement about the investment.

NVIDIA is a “founding collaborator” with Quantinuum and they will work together at NVIDIA’s Accelerated Quantum Research Center. The two companies also have formed a strategic partnership to work on artificial intelligence and next-generation technologies.

Quantinuum also has a joint venture in Qatar working on advanced quantum computing infrastructure. It is working in Singapore on advancements in computational biology.

“We are proud to partner with investors who share deep conviction in our vision for the future of quantum and AI,” said Quantinuum Chief Technology Officer Scot Baldry. “This new funding will further extend our leadership, accelerate our roadmap and strengthen the entire quantum ecosystem."