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shahed · 20-01-2024, 20:57

$300m raise for Quantinuum at $5bn pre-money valuation creates super-unicorn for Cambridge

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Quantinuum Computing and Artificial Intelligence might be something Ilyas Khan might be able to help , please see latest news on quantum computing one of Ilyas's companies

From modest Cambridge roots – having started life in a tiny room in the Cambridge Union Building on Bridge Street – quantum computing pioneer Quantinuum has grown into a unicorn many times over following a $300 million raise which values the business at $5 billion pre-money.

The raise was revealed by Quantinuum major shareholder – US and global giant Honeywell – which has invested as co-anchor alongside JPMorgan Chase, Mitsui & Co., Ltd and Amgen.

Quantinuum is a result of the November 2021 combination of two global leaders in quantum computing – Honeywell Quantum Solutions and Cambridge Quantum, which was this medium’s Business of the Year in 2021.

As part of this fund raise – believed to be a pre-IPO round ahead of a stockmarket float – Honeywell and other existing backers of Cambridge Quantum, who previously invested around $325m in Quantinuum, have exchanged their convertible instruments for the same class of preferred stock raised in this fresh round.

This brings the total capital raised by Quantinuum since the merger to approximately $625m, although the total capital deployed into Quantinuum – including funds invested by Honeywell into Honeywell Quantum Solutions and the investment by investors including JSR Corp into Cambridge Quantum – is closer to $1.3bn according to company sources.

20-01-2024, 20:57	#21
shahed Junior Member Join Date: Apr 2009 Posts: 3 Liked: 0 times Rep Power: 0	Re: Artificial Intelligence $300m raise for Quantinuum at $5bn pre-money valuation creates super-unicorn for Cambridge <quantinuum_ceo_ilyas_khan.jpg> Quantinuum Computing and Artificial Intelligence might be something Ilyas Khan might be able to help , please see latest news on quantum computing one of Ilyas's companies From modest Cambridge roots – having started life in a tiny room in the Cambridge Union Building on Bridge Street – quantum computing pioneer Quantinuum has grown into a unicorn many times over following a $300 million raise which values the business at $5 billion pre-money. The raise was revealed by Quantinuum major shareholder – US and global giant Honeywell – which has invested as co-anchor alongside JPMorgan Chase, Mitsui & Co., Ltd and Amgen. Quantinuum is a result of the November 2021 combination of two global leaders in quantum computing – Honeywell Quantum Solutions and Cambridge Quantum, which was this medium’s Business of the Year in 2021. As part of this fund raise – believed to be a pre-IPO round ahead of a stockmarket float – Honeywell and other existing backers of Cambridge Quantum, who previously invested around $325m in Quantinuum, have exchanged their convertible instruments for the same class of preferred stock raised in this fresh round. This brings the total capital raised by Quantinuum since the merger to approximately $625m, although the total capital deployed into Quantinuum – including funds invested by Honeywell into Honeywell Quantum Solutions and the investment by investors including JSR Corp into Cambridge Quantum – is closer to $1.3bn according to company sources.