Oxford Ionics raises £2m for trapped ion quantum computer tech
Oxford Ionics has raised £2m from the UK’s National Security Strategic Investment Fund (NSSIF) to continue developing its quantum computer technology.
The trapped ion technology developer, which has a deal with Infineon Technologies, also appointed former ARM CTO Dipesh Patel as a non-executive director. It raised £30m back in January from Oxford Science Enterprises and Braavos Investment Advisers alongside Lansdowne Partners, Prosus Ventures, 2xN, Torch Partners and Hermann Hauser, the founder of ARM.
Patel was the former CTO and EVP of chip designer ARM before becoming an operating partner at Cambridge Innovation Capital. His experience running technical teams at ARM will be essential in supporting Oxford Ionics as it scales its technology says the company,
The company has also recently broken ground on a new 30,000-square-foot office and lab space which will be home to its Quantum Computing as a Service (QCaaS) offering with access to its quantum computer systems via the cloud and the on-premises in Oxford.
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“We’re delighted to welcome Dipesh to the Oxford Ionics board, and to receive backing from the UK’s NSSIF. Quantum computing is a critical technology that will play a role in the security of the UK and we’re excited to continue to develop the infrastructure that will make quantum computing a reality,” said Dr Chris Ballance, co-founder & CEO of Oxford Ionics.
Trapped ion technology is a popular approach for producing and controlling qubits for quantum computers. Oxford Ionics uses a proprietary, patented Electronic Qubit Control (EQC) system to control the qubits. This allows the company to combine trapped ions with electronics integrated into silicon chips.
The NSSIF is a joint initiative between the UK Government and the British Business Bank for dual-use technologies that have a military application, supporting long-term equity investment as ‘patient capital’.
The Oxford Ionics team recently showed how the technology can wire the chips up. Small scale quantum computers can connect qubits to one or more individual control lines but scaling the number of lines, wires and electrical interconnects to the chip needed to scale up quickly becomes unwieldy. The company has a patented architecture called WISE that solves this problem, ensuring that the number of wires needed to control chips doesn’t become impractical as the chips become more powerful.
Following the successful Series A round earlier this year, the Oxford Ionics team is set to grow to 61 by the end of 2023, in particular through expanding its quantum science, chip design, and software engineering teams.
“From my many years at Arm, I understand the challenges and opportunities for scaling highly technical, groundbreaking companies, taking them from the innovation stage to widespread adoption. I’m looking forward to supporting Chris and Tom as they develop Oxford Ionics and to be a part of this exhilarating mission,” said Patel.
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