OQC raises £260 million in largest European quantum funding round

Oxford Quantum Circuits (OQC), a spin-out from the University of Oxford’s Department of Physics, has secured £260 million in Series C funding, the largest funding round ever raised by quantum computing company in Europe. Founded in 2017 by Dr Peter Leek, OQC develops superconducting quantum computers for commercial and strategic applications and already operates systems in the UK, US, Japan, and Spain.​​​​​​

The investment represents a significant step in OQC’s effort to make quantum computing commercially practical and easier to integrate with existing technology infrastructure. OQC was Europe’s first Quantum-Compute-as-a-Service provider and remains the only company integrating quantum computers directly into commercial data centres. Its technology originated from superconducting quantum-circuit research begun in Dr Leek’s Oxford laboratory in 2012. The funding will allow OQC to focus on improving system performance, reliability, and scalability while strengthening the integration of quantum computers into infrastructure that businesses already use, highlighting both OQC’s growth and Oxford’s broader role in commercialising quantum research.

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