Nu Quantum has today announced that it has raised £2.1m in seed funding to aid its efforts to build commercial quantum photonics hardware.
The funding round was led by Amadeus Capital Partners, with additional investment in Nu Quantum coming from Ahren Innovation Capital, Seraphim Capital, Cambridge Enterprise, Martlet Capital and IQ Capital.
A spin-out from the University of Cambridge, Nu Quantum is developing hardware solutions for quantum photonics, which use single photons to provide solutions for cryptography and simulation.
The funding will go towards the construction of an advanced photonics lab for Nu Quantum, which will be used to develop its first commercial product, quantum-level random number generators that will be used as cryptographic keys for secure data storage – essential for cybersecurity.
“Quantum photonics has the potential to transform cybersecurity through digital cryptography,” explained Alex van Someren, managing partner at Amadeus Capital Partners.
The company already has a host of intellectual property in the space, including semiconductor photonics, information theory and quantum optics.
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“Our aim is to enable the potential of quantum mechanics using quantum photonics hardware,” said Dr Carmen Palacios-Berraquero, CEO of Nu Quantum.
“This funding will allow us to do just that – a world-class multidisciplinary team and our new laboratories will give Nu Quantum the ability to deliver meaningful demonstrations of our technology into the hands of customers and partners for the first time.”
Nu Quantum funding helps UK strengthen quantum computing might
The seed funding round is a vote of confidence in Nu Quantum at a time when the UK is working to establish itself as a key player in the quantum computing space.
The company is also a partner in a National Physical Laboratory-led consortium that has been awarded £2.8m from the UK government’s Industrial Strategy Challenge Fund to develop a UK standard for random number generation.
“Nu Quantum is one of the foremost companies in the world developing quantum photonics technology and is playing a major role in driving the UK’s capabilities in quantum computing,” said Ed Stacey, Managing Partner at IQ Capital.
“We are proud to invest in this team once again as the company undertakes significant growth and begins to demonstrate the real-world applications of the technology it has developed.
“The proprietary technology it has created, and the vision and expertise of the team, give Nu Quantum the potential to drive quantum computing on a national and international level.”
Read more: How the UK can lead the quantum revolution