Quantinuum, a Quantum computing company, closed a $500-million funding round at a valuation of approximately $5 billion, stated Cointelegraph. The round is expected to be led by JPMorgan Chase and joined by Mitsui & Co and Amgen. It is believed Honeywell also came up with a follow-on investment.
“Quantinuum is pleased to announce the closing of a $300 million equity fundraising at a $5 billion pre-money valuation. Our investors in the funding round were JP Morgan Chase & Co, @MitsuiandCo, and @Amgen, and a follow-on investment by @Honeywell,” Quantinuum tweeted on January 16, 2024.
Sources revealed that the funds will be used to “accelerate the path towards achieving the world’s first universal fault-tolerant quantum computers,” added Cointelegraph.
Furthermore, “Financial services has been identified as one of the first industries that will benefit from quantum technologies. As such, we have been investing in quantum research and our team of experts led by Dr. Marco Pistoia have made groundbreaking discoveries,” Lori Beer, global chief information officer, JPMorgan Chase, concluded Cointelegraph.
(With insights from Cointelegraph)
