Sony Innovation Fund Joins Investments in Quantum Motion Funding Round
- The Sony Innovation Fund has become the latest high-profile investor to back Quantum Motion.
- The fund joins the closing of the company’s second funding round, announced in February 2023, which raised more than £42 million in equity funding.
- Quantum Motion is a UK-based quantum computing enhancement founded by University College London and University of Oxford researchers.
- Image: Quantum Motion leadership team (lr James Palles-Dimmock (CEO), Prof John Morton (CTO), Anna Stockklauser (VP Product), Prof Simon Benjamin (CSO), Jane Osborne-Buglear (COO))
PRESS RELEASE — The Sony Innovation Fund has become the latest high-profile investor to back Quantum Motion, the UK-based quantum computing scale founded by Professor John Morton, University College London (UCL), and Professor Simon Benjamin, University of Oxford. The Sony Innovation Fund joins the company’s second closing funding round, announced in February 2023, which raised more than £42 million in equity funding from some of the world’s leading quantum and technology investors.
The Sony Innovation Fund joins existing investors, including Bosch Ventures (RBVC), Porsche Automobil Holding SE (Porsche SE), British Patient Capital, Oxford Science Enterprises, Inkef, Parkwalk Advisors, Octopus Ventures, IP Group and NSSIF. To date, Quantum Motion has raised over £62 million in equity and grants.
The Sony Innovation Fund brings value through its technical expertise and industry insight into CMOS semiconductor design and manufacturing, as well as its global reach broadening Quantum Motion’s international investor base and, in particular, into the Japanese market, which will be a key driver of quantum computing. The Fund’s experience will be a tremendous asset in enabling Quantum Motion to advance its vision of developing a scalable quantum computer using silicon chips.
Leveraging existing know-how, scalability, uniformity, and manufacturing cost capabilities of the CMOS industry, over the past two years Quantum Motion has achieved a series of peer-reviewed and record-breaking milestones that underscore how silicon has the potential to be the fastest, most. a cost-effective, scalable way to generate the millions of qubits needed to create a fully functional, fault-tolerant quantum computer. It has designed and validated integrated circuits capable of generating, routing and processing signals at deep cryogenic temperatures, operating down to several tenths of a degree above absolute zero. Recent demonstrations, such as the mass characterization of thousands of multiplexed quantum dots fabricated in a level one foundry, further underscore the company’s advantage.
Antonio Avitabile, Managing Director-EU, Sony Ventures Corporation said, “We are actively exploring investing in transformative technologies with broad applications. Quantum computing has the potential to make that impact, and we want to work with the best-positioned companies to bring it to commercial scale. As our first investment in the quantum technology space, Quantum Motion has demonstrated tremendous progress and leadership, and we are excited to help drive their next stage of growth.”
James Palles-Dimmock, CEO of Quantum Motion, said, “We are delighted to have the Sony Innovation Fund as an investor, and have access to a global network of resources, technical expertise and industry insights. Together with our existing investors, their support will help us scale up our development of silicon-based quantum computers.”