Quantinuum, a quantum computing company formed through the combination of Honeywell Quantum Solutions and Cambridge Quantum, raised , at a pre-money valuation of $5 billion. The round is anchored by Quantinuum’s strategic partner JPMorgan Chase, with additional participation from Mitsui & Co., Amgen and Honeywell, which remains the company’s majority shareholder. This investment brings the total capital raised by Quantinuum since inception to approximately $625 million.
This capital raise represents Quantinuum’s first equity funding round since Cambridge Quantum Computing and Honeywell Quantum Solutions merged in November 2021. The funds will be used to accelerate the path towards achieving the world’s first universal fault-tolerant quantum computers, while also extending Quantinuum’s software offering to enhance commercial applicability.
JPMorgan Chase has one of the world’s most highly regarded specialist teams working on quantum technologies within the financial services industry and has been working with Quantinuum and its predecessor companies since 2020. The company was one of the earliest experimental users of Quantinuum’s H-Series quantum processor and is also one of the most active corporate partners that employs Quantinuum’s software development kit, known as “TKET.”
Lori Beer, Global Chief Information Officer at JPMorgan Chase said: “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.”
