Quantum computing startup Quantinuum has raised $300 million in funding. The company is now valued at $5 billion, and JPMorgan Chase led the funding round.
Additional participants included Mitsui & Co., Amgen and Honeywell, which remains the company’s majority shareholder. This investment brings the total amount of capital raised by Quantinuum since its inception to about $625 million. The funds will be used to accelerate the development of the world’s first universal fault-tolerant quantum computers.
JPMorgan Chase has one of the world’s most respected teams of specialists working on quantum technologies in the financial services industry and has been working with Quantinuum and its predecessor companies since 2020. Today, Quantinuum technologies are used by leading companies, including Airbus, BMW Group, Honeywell, HSBC, JPMorgan Chase, Mitsui and Thales.