Quantum Motion lands $160m in EU’s first major late-stage commitment
The London company building silicon-CMOS spin qubits has been one of the cleaner technical credentials in European quantum hardware. The choice of investee for the EU’s first major late-stage venture commitment, announced post-Brexit, is itself the news.
The European Union’s new Scaleup Europe Fund has made its first investment, leading a $160m round in UK-based Quantum Motion, Bloomberg reported on Wednesday.
The deal is the largest single funding round any European silicon-spin-qubit company has secured to date and the first major late-stage commitment of the EU vehicle that has been in design at the European Investment Fund for the better part of two years.
The choice of investee is itself the structural news. Quantum Motion is a London-based company, founded in 2017 by Professor John Morton (UCL) and Professor Simon Benjamin (Oxford), and operates outside the EU’s regulatory perimeter post-Brexit.
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