UK’s National Security Strategic Investment Fund Invests in Quantum Motion
Posted on 02/21/2023
Founded in 2017 by Professors John Morton and Simon Benjamin from UCL and Oxford University, respectively, Quantum Motion Technologies Ltd. is a British quantum computing company. Quantum Motion raised £42 million in new funding led by Bosch Ventures (RBVC), with Porsche, the U.K. government’s National Security Strategic Investment Fund (NSSIF, en-sif), and others also participating. Quantum Motion is setting out to create scalable quantum computers through new quantum computing architectures that are compatible with established silicon processing.
The National Security Strategic Investment Fund is the U.K. government’s corporate venturing arm for dual-use advanced technologies. It is a joint initiative between HM Government and the British Business Bank.
NSSIF invests commercially in advanced technology firms, alongside other investors, supporting long-term equity investment – ‘patient capital’ – and harnesses the Government’s unique technology expertise. Its objectives include accelerating the adoption of HMG’s future national security and defense capabilities and the development of the UK’s dual-use technology ecosystem.