Cambridge-based Nu Quantum has closed an oversubscribed £45 million Series A funding round.
The round was led by National Grid Partners, with participation from Gresham House Ventures and Morpheus Ventures, as well as continued backing from Amadeus Capital Partners, IQ Capital, Ahren Capital, Cambridge Enterprise Ventures, East Innovate, NSSIF and Sumitomo (Presidio Ventures).
The fresh capital will be used to accelerate the firm’s push toward fault-tolerant, distributed quantum computing – a route the company believes is the most realistic way to unlock the projected $1 trillion quantum computing market.
While much of the industry has focused on improving individual quantum processors, Nu Quantum is arguing that true utility will only arrive once processors can be stitched together into a larger system.
Its core idea is to scale quantum computers the way classical computing scaled – through networking.
Nu Quantum’s ‘Entanglement Fabric’ is designed to create high-fidelity entanglement links between qubits in separate processors using photonic networking, enabling modular, distributed architectures that can expand far beyond today’s limits.
Founder and CEO Dr. Carmen Palacios-Berraquero said: “When we launched seven years ago, very few were thinking about networked or distributed quantum computing as a strategy for scaling, but we saw it as one of the most urgent and challenging outstanding problems in the industry, and set out to solve it.
“We’ve made great strides in shaping the market and the technology since then. As we’ve grown, I’m proud we have created a culture defined by fearless innovation and fuelled by collaboration and diversity under a shared mission to accelerate quantum computing for good.
“This investment validates our vision and the maturity of our solution as the path to scaling. I’d like to warmly thank the Nu Quantum team for their achievements, and our investors for their support.”
The company has already delivered world-first subsystems, including a Qubit-Photon Interface in 2024 and a Quantum Networking Unit in 2025, and the Series A is intended to speed up the next stage of product development and deployment, informed by its work on Distributed Quantum Error Correction.
The company also plans to expand internationally, building on its Los Angeles base and a growing US strategic advisory board that includes senior figures formerly at IBM, Cisco and Amazon Braket.
Steve Smith, chief strategy and regulation officer of National Grid and president of National Grid Partners, added: “We are closer to quantum computing having an impact on businesses and lives than many people think.
“Nu Quantum is at the forefront of bringing this powerful technology closer to market and using it to solve real-world challenges today.”