Honeywell has announced the closing of a US$300 million equity fundraise for Quantinuum at a pre-money valuation of US$5bn. The round is anchored by Quantinuum’s partner JPMorgan Chase, with additional participation from Mitsui, Amgen and Honeywell, which remains the company’s majority shareholder. This investment brings the total capital raised by Quantinuum since inception to approximately US$625m.
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 universal fault-tolerant quantum computers, while also extending Quantinuum’s software offering to enhance commercial applicability.
Rajeeb Hazra, the chief executive of Quantinuum, said, “The confidence in our business demonstrated through this investment by our longstanding strategic partners and industry leaders is a clear indication of the value we will continue to create with the world’s highest performing quantum computers, groundbreaking middleware to accelerate the developer ecosystem and innovative application software to revolutionise fields like cryptography, computational chemistry and AI.”
Quantinuum’s technologies are used today by leading companies, including Airbus, BMW Group, Honeywell, HSBC, JPMorgan Chase, Mitsui and Thales. In collaboration, these organisations are exploring how to engineer and scale quantum capabilities to help solve some of world’s most challenging problems – from designing and manufacturing hydrogen cell batteries for transportation, to developing materials to sequester carbon safely from the atmosphere to support the world’s energy transition.
Quantinuum is also at the forefront of developing quantum natural language processing, which will help enable the next generation of AI to be scalable and fit for purpose.
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