Sony Innovation Fund backs Quantum Motion’s latest funding round

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Sony Innovation Fund has become the latest high-profile investor to back Quantum Motion, a UK-based quantum computing scale-up.

Quantum Motion, founded by Professor John Morton, University College London (UCL), and Professor Simon Benjamin, Oxford University, said that Sony Innovation Fund had joined the second close of its funding round, which was announced in February 2023. The round has raised over £42 million in equity funding from some of the world’s leading quantum and technology investors.

Sony Innovation Fund joins existing investors, including Bosch Ventures (RBVC), Porsche Automobil (Porsche SE), British Patient Capital, Oxford Science Enterprises, Inkef, Parkwalk Advisors, Octopus Ventures, IP Group and NSSIF.

Quantum Motion has successfully raised over £62 million in equity and grant funding.

According to Quantum Motion, Sony Innovation Fund’s involvement will help to bring additional technical expertise and industry insights on CMOS semiconductor design and manufacturing, as well as its global reach that will help to extend Quantum Motion’s international investor base and, in particular, help with accessing the Japanese market, which will be a major driver of quantum computing.

To date, Quantum Motion has achieved a series of peer-reviewed and record-breaking milestones that underline how silicon has the potential to 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 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 characterisation of thousands of multiplexed quantum dots fabricated in a tier one foundry, have further highlighted the company’s success in this area.

Commenting Antonio Avitabile, Managing Director-EU, Sony Ventures Corporation said, “We are actively exploring investments in technologies that will be transformational with wide ranging applications. Quantum computing has the potential to have that impact, and we want to work with the companies that are best positioned to bring it to commercial scale. As our first investment in the quantum technologies space, Quantum Motion is already demonstrating tremendous advancement and leadership, and we are excited to help fuel their next stage of growth.”

In response, James Palles-Dimmock, CEO of Quantum Motion, said, “We’re delighted to have Sony Innovation Fund on board as an investor, and to have access to its global network of resources, technical expertise, and industry insights. Alongside our existing investors, their support is going to help us scale the development of silicon-based quantum computers.”