We invested in Oxford Quantum Circuits, a startup from Oxford University that develops quantum computers, and introduced it as an example of Japan-UK investment cooperation at “London Tech Week 2022”.
The University of Tokyo Edge Capital Partners (UTEC) has announced that Oxford Quantum Circuits (OQC), an Oxford University startup developing a general-purpose gated superconducting quantum computer with a unique three-dimensional architecture, has been selected by the University of Tokyo to develop the first quantum computer in the world. The investment was made in June 2022 to Oxford Quantum Circuits (Head Office: Reading, UK / Chief Executive Officer: Ilana Wisby / hereinafter referred to as “OQC”), a startup from Oxford University that develops general-purpose gated superconducting quantum computers with a unique three-dimensional architecture. The investment was co-lead with Lansdowne Partners, a global investment management firm headquartered in Europe, and was supported by British Patient Capital, a UK government-affiliated VC fund, OQC’s existing investor, Oxford The total amount raised in this round, the first close of the Series A round for OQC, is approximately 38 million British pounds (approximately 6.3 billion yen*¹). This is one of the largest Series A rounds ever raised by a quantum computing startup in the UK.
The investment by UTEC was introduced as an example of UK-Japan investment cooperation by Lord Grimston, Minister for Investment at the UK Department for International Trade, at London Tech Week 2022*², the largest conference of its kind in Europe, held in June 2022 in London.
(Release: https://www.gov.uk/government/news/london-tech-week-marks-new-indo-pacific-trade-breakthrough-for-uk )
Among these, the superconducting qubit-based quantum computer, which Japan is pioneering in research and development, is a promising candidate for practical (commercial) use of quantum computers because of its high integration capability and high degree of freedom in design. The OQC’s patented three-dimensional architecture has been used to develop a quantum computer that can be used for real-world applications such as quantum chemistry and machine learning. OQC’s patented packaging technology “Coaxmon” with 3D architecture realizes a quantum chip with a simple off-chip wiring structure that has no wiring on the same plane as the qubits, and enables the development of scalable quantum computers through 3D integration while maintaining a high level of qubit “quality. UTEC’s patented OQC technology will enable UTEC to accelerate the arrival of the Broad quantum advantage era*³ (the era of commercially viable quantum computers), which is predicted to begin in 2030, Furthermore, OQC believes that it has the potential to build a leading position in this area over the next five years, and has therefore made the investment.
OQC is a Quantum-Computing-as-a-Service (QCaaS) platform that provides customers with quantum computing solutions powered by “Coaxmon” in the cloud via public and private cloud We are developing a QcaaS (Quantum-Computing-as-a-Service) platform that provides customers with quantum computing solutions on the cloud. In the public cloud, in February 2022, we launched our latest 8-qubit superconducting quantum computer “Lucy” on AWS, becoming the world’s fourth*4 and Europe’s first quantum computer hardware provider to be connected to Amazon Bracket. OQC has also been awarded a project*⁵ from the UK government for private cloud computing, and is developing a business targeting financial institutions that measure financial risk and optimize portfolios. OQC has released products from the early stages of hardware development, and its execution capabilities adopted by AWS have given it a distinct competitive advantage amidst intensifying global competition in hardware development.
OQC will use the funds raised in this Series A round to fund its growth to accelerate its R&D and expansion into the Asia-Pacific region for the deployment of large-scale quantum computers with quantum bits in the cloud. OQC plans to enter the Japanese market as the first step in its global expansion, aiming to build partnerships in the financial and ICT (Information and Communication Technology) industries, which are eager to solve their corporate challenges with quantum technology. UTEC plans to establish a Japanese subsidiary by the end of 2022, and to start providing QcaaS services to Japanese companies in early 2023. UTEC will contribute to OQC’s business growth through this investment, not only by providing funds, but also by supporting the establishment of partnerships with academia, including the University of Tokyo, and with major Japanese companies.
*¹: The exchange rate of 165 British pounds sterling/yen is used
*²: See https://www.gov.uk/government/news/
*³: See https://web-assets.bcg.com/89/00/d2d074424a6ca820b1238e24ccc0/
*⁴: See https://aws.amazon.com/jp/blogs/quantum-computing/
*⁵: See https://www.nqcc.ac.uk/wp-content/uploads/2021/11/
Oxford Quantum Circuits Founding CEO & Director Ilana Wisby commented: “We are delighted that UTEC has chosen to invest in OQC and our ambitious technology development roadmap and strong team.
With UTEC’s support, we will accelerate the deployment of QcaaS in Japan and the Asia Pacific region, as well as build on our leadership position in quantum computing outside of Europe. With UTEC’s support, we will accelerate the deployment of QcaaS in Japan and the Asia Pacific region, as well as position ourselves as a leader in the quantum computing space outside Europe.
Inquiries about OQC
For more information about OQC’s entry into the Japanese market, interest in joint research and demonstrations, or for more information about OQC’s quantum computing solutions, please contact us at the following address
UTEC Chin email@example.com