Honeywell has closed a $300 million equity fundraising for integrated quantum computing company Quantinuum. The round closed at a pre-money valuation of $5 billion. Honeywell said that the financing is anchored by Quantinuum's strategic partner, JPMorgan Chase, with additional participation from Mitsui & Co., Amgen, and Honeywell itself, which remains the company's majority shareholder.
CHARLOTTE, N.C., Jan. 18, 2024 — Honeywell has closed a $300 million equity fundraising for integrated quantum computing company Quantinuum. The round closed at a pre-money valuation of $5 billion. Honeywell said that the financing is anchored by Quantinuum's strategic partner, JPMorgan Chase, with additional participation from Mitsui & Co., Amgen, and Honeywell itself, which remains the company's majority shareholder.
Quantinuum's technologies are used today by companies including Airbus, BMW Group, Honeywell, HSBC, JPMorgan Chase, Mitsui, and Thales. In collaboration, these organizations are exploring how to engineer and scale quantum capabilities to help solve problems — from designing and manufacturing hydrogen cell batteries for transportation to developing materials to sequester carbon safely from the atmosphere to support the world's energy transition. Quantinuum is also working to develop Quantum Natural Language Processing, which will help enable the next generation of AI to be scalable and fit for purpose.
According to Honeywell, Quantinuum will use the funds to accelerate the path toward universal fault-tolerant quantum computers and extend Quantinuum's software offering to enhance commercial applicability.
This capital raise represents Quantinuum's first equity funding round since the company formed through the merger of Cambridge Quantum Computing and Honeywell Quantum Solutions in November 2021.
This investment brings the total capital raised by Quantinuum since inception to approximately $625 million.
Published: January 2024
Glossary
quantumSmallest amount into which the energy of a wave can be divided. The quantum is proportional to the frequency of the wave. See photon.
BusinessfundingFinancefinancinginvestmentroundequityfundraisequantumquantum computingfault-tolerantCambridge Quantum ComputingHoneywell Quantum SolutionsHoneywellQuantinuumAmericasJP Morgan ChaseMitsuiAmgen
