British Business Bank backs Quantum Motion with GBP £40m

The British Business Bank has invested GBP £40 million in Quantum Motion as part of a USD $160 million Series C funding round for the UK quantum computing company.

The round was jointly led by DCVC and Kembara, with Firgun participating alongside existing investors Oxford Science Enterprises, Inkef, Bosch Ventures, Porsche Automobil Holding and Parkwalk Advisors.

Quantum Motion, a UK spinout from Oxford University and University College London, develops quantum computers based on silicon chips. The new capital will support its effort to build quantum machines that can scale for commercial use.

The deal is a follow-on investment by the British Business Bank, which invested GBP £5 million in Quantum Motion's Series B round in 2023. The latest commitment also builds on work with the National Security Strategic Investment Fund, which first backed the company in 2020.

The funding follows Quantum Motion's deployment of a full-stack quantum computer built on standard silicon chips at the UK National Quantum Computing Centre. The company has also advanced to stage B of DARPA's Quantum Benchmarking Initiative, a programme examining whether full-scale quantum computers can be built by 2033.

Bank reforms

The investment is one of the British Business Bank's larger direct positions since reforms introduced in 2025 expanded its scope to invest more heavily in UK scale-ups. The changes were intended to allow the state-backed institution to take bigger stakes in later-stage businesses tied to innovation and industrial policy.

Leandros Kalisperas, Chief Investment Officer at British Business Bank, described the rationale in broader terms. "The Bank is making larger investments in high-growth companies to give the UK taxpayer exposure to the nation's emerging tech champions and ensure that our most promising businesses have access to the growth capital they need to start, scale, and stay in the UK. These investments are directly increasing the size of later-stage rounds today, and should be seen as complementary to our broader effort to support larger, external growth funds for UK scale-ups so over time, a greater share of this capital is delivered by the market," said Kalisperas.

Peter Kyle, Secretary of State for Business and Trade, linked the deal to the government's wider industrial strategy. "Backing breakthrough technologies like quantum computing is central to this Government's mission to make the UK a global science and innovation superpower. That's why we have empowered the British Business Bank to be bolder in supporting high growth firms - unlocking major investment that will help companies like Quantum Motion scale in the UK, create high value jobs and boost economic growth," said Kyle.

Quantum push

Quantum computing has become a focus for policymakers and investors as governments seek to build domestic positions in strategically important technologies. The UK has committed up to GBP £2 billion to the sector, and ministers have repeatedly presented quantum science as an area where Britain can turn academic research into commercial companies.

Quantum Motion has positioned silicon as the basis for that commercial path. Rather than relying on more specialised materials and manufacturing methods, it is developing quantum systems using silicon technology common in the semiconductor industry.

Charlotte Lawrence, Managing Director of Direct Equity at British Business Bank, said, "The race for a fully scalable quantum computer is one of the defining technological challenges of our time. Quantum Motion's unique approach that combines cutting-edge quantum physics with established silicon manufacturing provides a distinct global edge. We are no longer just theorising about quantum computing but are actively starting to build the platforms to deliver it here in the UK."

Founded in 2017, Quantum Motion has expanded beyond the UK since its last funding round. It has opened labs and offices in Spain and Australia, while building academic and industrial ties, including a partnership with GlobalFoundries.

James Palles-Dimmock, Chief Executive Officer of Quantum Motion, said, "Today's announcement reflects the strength of the team we have built and the progress they have delivered. Quantum computing will only achieve its full potential if it can be built on a platform that scales, and we believe silicon is the strongest route to achieving that. We are pleased to be joined by investors who share our vision and understand what it takes to build a foundational company in this field."

The government also presented the deal as a sign of confidence in the domestic market for quantum businesses.

"Quantum computing could transform everything from drug discovery to how we manage energy and supply chains or enhance national security. Spinout companies like Quantum Motion are scaling up in the UK and putting our ambitions for this technology into practice - tapping into exceptional talent to bring Quantum closer to everyday use. This major investment is another strong vote of confidence in the UK as a global quantum hub, building on the Government's significant backing of up to £2 billion for the sector, to drive economic growth and deliver real benefits for people across the country," said Science Minister Lord Vallance.