Oxford Ionics raises £30 million, is hiring

Business news |
By Peter Clarke

Quantum computing startup Oxford Ionics Ltd. (Oxford, England) has raised £30 million (about US$36 million) in a Series A round of finance.

The company was founded in 2019 by Chris Ballance and Tom Harty and has developed an electronic qubit control technology that is claims will support the scaling of trapped-ion quantum computing to hundreds of qubits.

The funding round was led by Oxford Science Enterprises and Braavos Investment Advisers. Lansdowne Partners, Prosus Ventures, 2xN, Torch Partners and Hermann Hauser, who is associated with the founding of processor IP licensor Arm, also participated. 

The company said it would use the money to increase its number of employees and want to hire both software and hardware engineers.

Oxford Ionics claims that its method of controlling ions – based on a mix of lasers and microwaves – is superior to laser-only methods. And has produced records for the highest performance quantum operations, longest quantum coherence time, and highest performance quantum network. “Importantly, we have shown that we can maintain this performance using chips manufactured on a semiconductor production line,” Quantum Ionics said.

The company has formed a partnership with Infineon Technologies AG (see Infineon teams for commercial ion-trap quantum processors).

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