TIDMQBIT
RNS Number : 7378U
Quantum Exponential Group PLC
27 November 2023
27 November 2023
Quantum Exponential Group plc
(the 'Company' or 'Quantum Exponential')
Investee Company Update: Oxford Quantum Circuits
Japan's Premier VC Fund leads OQC's US$100 million raise
Quantum Exponential Group plc (AQUIS: QBIT), the UK's only pure
quantum investment fund and accelerator, is pleased to note an
announcement released by its portfolio company, Oxford Quantum
Circuits ("OQC") the global leaders in quantum compute-as-a-service
(QCaaS). OQC announced that SBI Investment, Japan's premier venture
capital fund, is leading its US$100 million Series B fundraise, and
the launch of OQC Toshiko, the world's first enterprise ready
quantum computing platform.
Quantum Exponential holds 47,164 of Series A2 shares in OQC
representing 0.34% on a fully diluted basis. The Company will not
be participating in the current funding round.
Highlights:
-- SBI Investment, Japan's premier venture capital fund, leads
OQC's US$100 million Series B fundraise.
-- Growing investor appetite - this round represents the UK's
largest ever Series B round in quantum computing.
-- OQC's US$100m round will pave the way for industry-leading
R&D, furthering its ability to bring enterprise-ready quantum
to business globally.
-- Launch of OQC Toshiko accelerates the accessibility of
enterprise-ready quantum on a global scale.
Steven Metcalfe, CEO of Quantum Exponential said:
"As early investors, we are absolutely thrilled to follow the
progress of OQC and witness just how much the company has achieved
in a relatively short space of time. We believe that innovators
such as OQC are pivotal to the integration and adaptation of
quantum computing globally and are absolutely delighted to be part
of its journey.
"I would also like to credit our investment team, whose network,
experience, and knowledge in the quantum sector are central to the
investment opportunities we access and the investments we make.
OQC's fundraising success to date is particularly impressive in
light of continued challenging capital markets, cementing our
belief that exposure to quantum technology, through investment
companies like ours, provide investors with an excellent
opportunity to benefit from the quantum revolution."
Below is OQC's announcement in full without any material
changes.
OQC launches OQC Toshiko, the world's first enterprise ready
quantum platform
At the Global Investment Summit, the company also announces that
SBI Investment, Japan's premier VC fund, is leading OQC's $100m
round
LONDON, UK - November 27, 2023 - OQC, the global leaders in
quantum compute-as-a-service (QCaaS), today announced the public
availability of OQC Toshiko, the world's first enterprise ready
quantum computing platform, and that SBI Investment, Japan's
premier VC fund, is leading OQC's $100m round.
OQC Toshiko is a powerful next generation 32-qubit platform,
deployed to commercial data-centres, enabling businesses to tap
into ground-breaking technology from anywhere in the world,
seamlessly and securely.
OQC's $100m round will pave the way for industry-leading R&D
furthering its ability to bring enterprise ready quantum to
businesses globally.
OQC Toshiko - world's first enterprise ready quantum computing
platform
Quantum computing is a world changing $1.3 trillion opportunity
with the power to not only reshape and transform entire industries
but ignite and catalyse entirely new ones. Today, quantum computers
are predominantly located in labs, making secure access the biggest
barrier to wider business adoption of this groundbreaking
technology.
With OQC Toshiko, an upgradeable 32-qubit platform, OQC has
brought quantum computing to commercial data centres, thereby
enabling secure and easy access for customers. This world-first
platform is especially important for customers handling sensitive
data, in sectors such as financial services, pharmaceuticals,
energy, defence and government.
Bringing quantum into data centres makes it possible to offer
hybrid compute, integrated quantum and HPC, to the market. OQC has
achieved this by adopting an advanced networking infrastructure,
Digital Fabric Interconnect, to enable secure, hybrid compute for
customers.
To bring quantum out of the lab and into the enterprise, OQC is
collaborating with leading global companies including Equinix,
NVIDIA, AWS and McKinsey. OQC Toshiko is available today in private
preview with expanding availability across public cloud and data
centre fabric in the coming months.
OQC believes in a brighter future for all enabled by quantum and
is passionate about championing diversity in tech. OQC Toshiko is
named after the first female Japanese physicist, Toshiko Yuasa.
SBI Investment, Japan's premier venture capital fund, leads
$100m round
At the Global Investment Summit today, OQC announced that SBI
Investment, Japan's premier venture capital fund, is leading OQC's
$100m Series B raise. New investors in the round have been
confirmed in addition to existing investors, Oxford Science
Enterprises (OSE), University of Tokyo Edge Capital (UTEC),
Lansdowne Partners, and OTIF, acted by manager Oxford Investment
Consultants (OIC).
The ongoing round is the UK's largest ever Series B in quantum
computing enabling industry-leading R&D that paves the way to
quantum advantage and furthers OQC's ability to bring next
generation platforms of hundreds of qubits to businesses globally.
OQC's announcements at the Global Investment Summit today, cement
OQC and the UK as a global leader in quantum technology.
Commenting on the news, Ilana Wisby, Chief Executive Officer at
OQC, said : "To solve the world's most pressing challenges - from
climate change to accelerated drug discovery - we need to put
quantum computers in the hands of humanity and at the fingertips of
our most brilliant minds. We're proud to be pioneering enterprise
ready quantum with our customers, partners and investors."
Yoshitaka Kitao, Representative Director, Chairman, President
& CEO of SBI Holdings, Inc., a wholly owning parent company of
SBI Investment Co., Ltd., said: "Quantum computing is a game
changer for financial services and many other sectors, unlocking
unprecedented power, speed and accuracy that will redefine the
industrial landscape. As Japan's premier venture capital firm, SBI
Investment is proud to lead a $100m Series B round of OQC, a global
leader in quantum computing."
Eugene Bergen President, EMEA at Equinix, said "As the world's
digital infrastructure company, Equinix continues to partner with
the very best to accelerate innovation by facilitating secure,
high-bandwidth access to cutting-edge technology such as quantum
computing for thousands of organisations worldwide. The inclusion
of OQC's quantum computer into our global interconnection ecosystem
on Platform Equinix(R) reinforces our dedication to fostering
innovation and continues to push the boundaries of what is
possible. We are thrilled by the great partnership with OQC that
enables us to stay ahead in innovation to help organisations across
the globe address some of the world's most pressing
challenges."
"Addressing the grand challenges of tomorrow requires the
seamless integration of quantum with the GPU-accelerated
supercomputing of today," said Tim Costa, director of HPC and
quantum at NVIDIA. "By combining OQC Toshiko with the NVIDIA GH200
Grace Hopper Superchip through NVIDIA CUDA Quantum, a platform for
integrated quantum-classical computing, OQC can better empower
businesses and researchers to make breakthroughs across industries
and in critical scientific domains."
Mike Sewart, Chief Technology & Operating Officer, QinetiQ
said: "QinetiQ is delighted to welcome the latest innovation from
Oxford Quantum Circuits (OQC). QinetiQ regularly conducts
experimental studies on a range of problems including optimisation,
chemistry and machine learning and we've seen great results from
OQC's technology to date. QinetiQ's focus is very much on
identifying the areas where quantum computing can add real value
for our government and defence customers. This involves mapping
complex customer requirements to currently available hardware and
algorithms, as well as considering the practical elements of future
solution design, including the validation and assurance of quantum
applications in real-world operational scenarios. QinetiQ's quantum
team looks forward to working closely with OQC and their technology
in order to drive future capability developments in this emerging
but important field for defence."
Science and Technology Secretary Michelle Donelan, UK Government
said: "Oxford Quantum Circuits is leading the way in seizing the
potential of quantum computing, which can help discover new drugs,
boost cybersecurity and manage financial systems to improve our
lives and drive growth. "Today's news will support businesses to
scale up by tapping into this technology and is another vote of
confidence in the resounding strength of the UK's quantum
capability. "Our National Quantum Strategy will help us go even
further, backed by GBP2.5 billion over the next 10 years to help
unlock untold advances in healthcare, green tech and beyond."
Minister for Investment Lord Johnson, UK Government said: "We
are a global leader in quantum computing, and the levels of
innovation from companies like Oxford Quantum Circuits is exactly
why we are fast on the way to becoming a Science & Tech
Superpower. The UK has a rapidly growing quantum sector which is
no.1 in Europe for the number of start-ups and in attracting
private investment - around $850m in the past 10 years. In March we
published a National Quantum Strategy which more than doubles our
public investment in quantum to GBP2.5 billion over the next 10
years, and already we are investing GBP100 million into new quantum
research hubs to ensure the UK stays at the forefront of this
vitally important technology."
Prior to Series B, OQC raised GBP41 million including the
largest Series A in quantum in the UK at that time. In 2023, OQC's
team grew to over 100, attracting talent from across the globe. The
team has built and deployed OQC Toshiko platforms to colocation
data centres expanding its operations in the UK, Japan and
Spain.
Companies wanting to test this groundbreaking technology can
join the private
previewwww.oxfordquantumcircuits.com/technology/toshiko, and mark a
key moment of quantum computing entering the mainstream.
About OQC
OQC is the globally leading enterprise-ready quantum compute
company. We bring quantum to our customers' fingertips and enable
them to make breakthrough discoveries. OQC Toshiko, a powerful and
secure 32-qubit quantum computing platform, is now in private
preview and coming soon on public cloud and data centre fabric. For
more information: For more information:
www.oxfordquantumcircuits.com
About SBI Investment Co., Ltd.
SBI Investment Co., Ltd. is one of Japan's leading venture
capital firms, focusing on the creation and cultivation of key
industries for the 21st century. SBI's investment portfolio has
expanded to include core technologies such as Fintech, AI, Block
chain, 5G, IoT, big data and now Quantum Computing, Metaverse and
Web 3.0.
**ENDS**
For more information, visit the Company's website:
https://www.quantumexp.co.uk/ or contact:
Quantum Exponential c/o quantum@stbridespartners.co.uk
Steven Metcalfe, Chief Executive
Officer
Novum Securities (AQSE Corporate Tel: +44 (0)20 7399 9400
Adviser)
David Coffman, George Duxberry
-----------------------------------
VSA Capital (AQSE Corporate Broker) Tel: +44 (0)203 005 5000
Peter Mattsson, Simon Barton
-----------------------------------
St Brides Partners Limited (Financial quantum@stbridespartners.co.uk
PR)
Catherine Leftley, Ana Ribeiro,
Isabelle Morris
-----------------------------------
Notes to Editors
About Quantum Exponential Group plc
Quantum Exponential is a first of its kind, AQSE Growth Market
SPAC, focused on opportunities in quantum technology and the wider
quantum computing sector, with an advisory board made up of
industry advisors, entrepreneurs, and technology investment
professionals with broad access to quantum opportunities and
markets. Quantum Exponential's investment strategy is to assemble a
portfolio of minority investments in early-stage global quantum
technology companies, primarily in NATO-allied countries, offering
institutional and private investors access to revolutionising
technologies and industries in the realms of artificial
intelligence, manufacturing and healthcare.
Quantum Exponential trades on AQSE Growth Market under the
ticker symbol "QBIT'.
About OQC
OQC is the globally leading enterprise-ready quantum compute
company. We bring quantum to our customers' fingertips and enable
them to make breakthrough discoveries. OQC Toshiko, a powerful and
secure 32-qubit quantum computing platform, is now in private beta
and coming soon on public cloud and data centre fabric. For more
information: For more information:
www.oxfoedquantumcircuits.com
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END
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November 27, 2023 03:00 ET (08:00 GMT)
Quantum Exponential (AQSE:QBIT)
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Quantum Exponential (AQSE:QBIT)
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