NEW YORK - Quantum (NASDAQ:QMCO) computing firm Quantinuum announced today it has completed a substantial funding round, securing $300 million and achieving a pre-money valuation of $5 billion. The investment round was spearheaded by JPMorgan Chase (NYSE:JPM) and saw participation from Mitsui & Co., Amgen (NASDAQ:AMGN), and Honeywell (NASDAQ:HON), which retains its position as the majority shareholder. With this latest financial injection, Quantinuum's total funding reaches approximately $625 million since its inception following a merger in late 2021.
The company has stated its intention to allocate the fresh capital towards advancing its fault-tolerant quantum computing systems and broadening its quantum software capabilities. Quantinuum has an ongoing collaboration with JPMorgan Chase that began in 2020, concentrating on creating innovations for the financial sector. This partnership leverages Quantinuum's H-Series processors and TKET SDK, a toolkit for quantum software development.
Additionally, the company is engaged with Mitsui to bolster its growth across the Asia-Pacific market. Beyond the financial industry, Quantinuum is also working closely with global industry leaders such as Airbus and BMW (ETR:BMWG) Group. These collaborations focus on transportation and environmental sustainability projects, including the development of hydrogen fuel cells and technologies for carbon capture.
Honeywell, which continues to be the major investor, is integrating Quantinuum's advancements into its Honeywell Connected Enterprise system, supporting progress in aerospace technologies, industrial automation, and building automation.
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