Universal Quantum raises $100M Series A, largest for a UK quantum firm

University of Sussex spinout Universal Quantum has raised $100M in Series A funding, the largest such round for a UK-headquartered quantum company. The money will fund expansion in the US, Japan and Germany and commercialisation of its trapped-ion technology.

• Round co-led by DCVC and Firgun Ventures; total raised exceeds $125M
• iQPU chips built on 200mm foundry lines with hundreds of ion qubits
• UQConnect links chips at 2,424 connections per second
• Company won a €67M contract from Germany's DLR in 2023