Oxford Quantum Circuits has secured £260 million in a Series C funding round, marking the largest private investment in the European quantum computing sector to date. The transaction, finalized in June 2026, brings the company's valuation to approximately $1 billion.
Bullhound Capital led the investment round, with the British Business Bank contributing £100 million. This marks the bank's largest single-company investment. Existing investors, including Oxford Science Enterprises and Chevron Technology Ventures, also participated, while J.P. Morgan acted as the placement agent.
Founded in 2017, the company develops superconducting quantum computers using its patented Coaxmon 3D architecture. It operates under a Quantum-Compute-as-a-Service model, providing access to processing power via data centers in the UK, US, Japan, and Spain.
The company intends to allocate the new capital toward international expansion, the development of next-generation hardware, and the construction of quantum infrastructure. Leadership includes CEO Gerald Mullally and Chief Scientific Officer Dr. Peter Leek.
OQC previously raised $40.5 million in a 2022 Series A round and $100 million in a 2024 Series B round. The firm is currently exploring potential quantum-AI platforms in collaboration with J.P. Morgan and is reportedly in talks regarding further institutional investment.
