Gerald Mullally, CEO of OQC, said: “This is a coming-of-age moment for British quantum computing. It shows that British companies can play a leading role in a technology that will shape all our futures. Globally, it represents a clear shift in the market – from long-term promise to near-term delivery in quantum computing. For OQC, this gives us the capital to scale internationally, advance our technology roadmap, and meet increasing demand from customers seeking secure, scalable access to quantum computing infrastructure.”

Dr Peter Leek, Founder and Chief Scientific Officer of OQC, said: “OQC was founded to use innovative quantum circuit designs to build engineered systems that scale as simply as possible. I’m proud to be part of the incredible team we have today doing exactly that, to pioneer the future of quantum computing. This investment supports the next stage of our work: advancing system performance and reliability while continuing to integrate quantum computers into the trusted infrastructure customers depend on.”

The Chancellor of the Exchequer, Rachel Reeves, said: “OQC’s £260 million funding round is a major vote of confidence in the UK’s quantum sector and shows that the UK continues to be the place where the industries of the future are being created. We have the right economic plan and within it, I set out three ‘big choices’ for the UK economy – one of which is developing AI and innovation. We will always back companies to give them a head start in the global race which is why we have recently committed up to £2bn to ensure UK quantum companies can successfully reach commercial scale.”

Jack Boyer, Chair of OQC, said: “This round marks an important step in OQC’s growth as a UK-founded quantum company scaling globally. OQC is building the infrastructure needed to bring quantum computing into trusted enterprise and government environments, and the quality of this investor group reflects confidence in the company’s strategy, technology and ability to scale.”

Per Roman, Founding Partner of Bullhound Capital, who is joining the board of OQC said: “OQC is building one of the most compelling quantum computing platforms globally, with the technology, infrastructure and customer focus required to scale. As quantum computing moves into global infrastructure, OQC is positioned to shape that transition. We are pleased to lead this round and support the company’s next phase of growth.”

Nigel Higgins, Chair of Barclays and OQC Board Member, said: “OQC has the technology, team and customer focus needed to build a leading global quantum platform. This funding gives the company the resources to scale internationally at a time when quantum computing is becoming increasingly important to enterprise and critical infrastructure.”

Ed Bussey, CEO of Oxford Science Enterprises, said: “OSE has been immensely proud to support OQC at every step of the way – from the early days in the research lab, through the hard yards of translating its foundational science into a growing commercial venture, to it now emerging as a global quantum computing leader. This £260m raise positions OQC as one of the best capitalised quantum companies in the world, a testament to the strength of the OQC team, to the quality of its technology, and to its emergence as a global quantum powerhouse, that will redefine entire sectors of the economy.”

Jay Horine, Head of the Security and Resiliency Initiative for J.P. Morgan Global Banking, said: “Quantum computing is moving from research to reality, and the implications for economic growth and global security are significant. As part of JPMorganChase’s Security and Resiliency Initiative, we’re focused on identifying the platforms and companies positioned to lead as quantum scales — and OQC has developed the hardware and infrastructure to play a meaningful role in this growing ecosystem.”

George Mills, Senior Investment Director, Direct Equity, at the British Business Bank, said, “Quantum Computing has the potential to solve some of the hardest computing challenges which remain unsolved by AI, but is held back by its ability to scale up. OQC’s systems fill that gap with their world leading speed and scalability. We are delighted to be backing the team at OQC again as they scale up their commercial offering with the development of OQC TITAN.”

Leandros Kalisperas, Chief Investment Officer at the British Business Bank, said, “For deeptech in the UK, the challenge is not invention, it’s scale. In order to build global companies rooted in the UK, our financial firepower must match our scientific excellence. The Bank sees this as nothing short of a national economic imperative, so we are acting at pace to deliver significantly higher levels of funding for UK scale ups.”

Science Minister Lord Vallance said:
“Companies like OQC are part of a flourishing British Quantum sector, with expertise that is bringing the promise and potential of new Quantum computing innovations to life. This backing is a major win and puts British companies at the heart of the global Quantum race. Following the up to £2 billion of support we announced in March, it’s further proof of the UK’s undeniable credentials as a true world leader in the technology.”