Oxford Quantum will seek to build quantum computers capable of crunching large quantities of data.
Oxford Quantum Circuits, a UK-based quantum computing spinout from University of Oxford, today raised £2m ($2.7m) from investors incluiing the Parkwalk Opportunities Fund.
Other backers were not named. The Parkwalk Opportunities Fund is managed by commercialisation firm Parkwalk Advisors under the UK’s Enterprise Investment Scheme, which offers tax breaks to certain venture capital funds.
Founded in June 2017, Oxford Quantum Circuits will seek to develop quantum computers capable of crunching large quantities of data.
The technology would use a superconducting circuit, a model previously implemented by computing corporates including Alphabet and IBM. It is based on research by founder Peter Leek, a research fellow in condensed matter physics at Oxford.
Oxford Quantum has not previously disclosed any funding.
