Universal Quantum, a British quantum-computing company, has raised more than $100 million in a Series A round backed by Singapore’s sovereign investor EDBI.
In a statement on Thursday, Universal Quantum said part of the money will fund its research & development (R&D) center in Singapore, also its first one outside Europe.
The round, the largest Series A by a UK-based quantum firm, was co-led by U.S. deep-tech investor DCVC and the quantum-focused Firgun Ventures, the company said. EDBI, the investment arm of Singapore’s Economic Development Board, was among a global syndicate of sovereign, institutional and specialist backers.
Universal Quantum will utilize the money to support its planned research-and-development center in Singapore, alongside expansion in the United States, Japan, and its German hub in Hamburg. EDBI’s participation reflects Singapore’s push into frontier quantum technology, Universal Quantum highlighted.
The company builds quantum computers using trapped-ion technology. It says the approach avoids the costly lasers and photonic links some rivals rely on.
Founded in 2018 as a spinout from the University of Sussex by Sebastian Weidt and Winfried Hensinger, Universal Quantum now has more than 100 technical staff across three continents. It is delivering a $77 million contract with the German Aerospace Center to build multi-chip quantum computers, the company said.
Chief executive and co-founder Sebastian Weidt said the round united investors from major pools of global capital behind delivering “utility-scale” quantum computing. James Hardiman of DCVC said Universal Quantum’s modular design addressed the hardest problems in scaling ion-trap systems.
Investment in quantum computing has surged as governments and companies race to build machines able to solve problems beyond conventional computers. Analysts at McKinsey estimate the quantum-technology market could be worth $60 billion to $100 billion a year by 2035, though the sector remains early, with few working commercial machines.
Universal Quantum picks Singapore for first R&D center outside Europe