Sony Innovation Fund backs Quantum Motion’s latest funding round

Sony Innovation Fund backs Quantum Motion’s latest funding round

Sony Innovation Fund Invests in Quantum Motion

London, UK – May 2023 – Quantum Motion, a UK-based quantum computing scale-up, has announced that it has secured £42 million in equity funding from Sony Innovation Fund. The funding round also attracted the interest of leading quantum and technology investors from around the world, including Bosch Ventures, Porsche Automobil, and British Patient Capital.

Quantum Motion is developing silicon-based quantum computers that are scalable and fault-tolerant. The company has achieved significant milestones in its development, including the design and validation of integrated circuits capable of operating at deep cryogenic temperatures. Quantum Motion has also successfully characterized thousands of multiplexed quantum dots fabricated in a renowned foundry.

Sony Innovation Fund is the corporate venture capital arm of Sony Corporation. The fund invests in early-stage companies that are developing transformative technologies with wide-ranging applications. Sony Innovation Fund’s investment in Quantum Motion is its first investment in the quantum technologies space.

“We are excited to invest in Quantum Motion,” said Antonio Avitabile, Managing Director-EU at Sony Ventures Corporation. “Quantum computing is a transformative technology with the potential to solve some of the world’s most challenging problems. Quantum Motion is a leading company in this field, and we are confident that they will make significant contributions to the development of quantum computing technology.”

“We are delighted to welcome Sony Innovation Fund as an investor,” said James Palles-Dimmock, CEO of Quantum Motion. “Sony’s investment will help us to accelerate the development of our silicon-based quantum computers and bring them closer to commercial scale. We are grateful for Sony’s support and look forward to working with them to shape the future of quantum computing technology.”

This partnership between Quantum Motion and Sony Innovation Fund signifies the growing interest and investment in quantum computing. Quantum computing is a rapidly developing field with the potential to revolutionize a wide range of industries. As the collaboration progresses, it is anticipated that Quantum Motion will continue to drive innovation and shape the future of quantum computing technology.

News Update By: Anissh Babu

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