OQC raises £260m in oversubscribed series C led by Bullhound Capital
This article covers OQC, a quantum computing startup, which has raised £260m in an oversubscribed series C funding round. The capital will be used to expand operations in priority markets and accelerate development towards commercially useful, fault-tolerant machines, supporting enterprise and government customers in sectors such as financial services, defence and security.
OQC has raised £260 million in an oversubscribed series C funding round, a deal the company describes as Europe’s largest private funding round for a quantum computing firm. The cash will be used to expand operational presence in priority markets and to accelerate development toward commercially useful, fault-tolerant machines — notably its OQC TITAN programme — signalling fresh private capital flowing into hardware-led quantum infrastructure.
Why it matters
The size of this round is notable for a hardware-first quantum company and marks a step beyond basic research funding towards commercial deployment. OQC’s customers include enterprise and government buyers in financial services, defence and security, sectors that need secure, scalable compute to tackle problems beyond classical systems. The raise also dovetails with UK government ambitions — including a headline pledge of up to £2 billion for quantum commercialisation — and was flagged in the Prime Minister’s London Tech Week speech, underlining the political as well as commercial importance of the technology.
Inside the product
OQC builds superconducting quantum computers engineered for data-centre environments, aiming to deliver systems that enterprises and governments can operate within trusted infrastructure. The company says it has established a global platform spanning Europe, North America and Asia, with deployed systems in the UK, US, Japan and Spain. The immediate focus for the new capital is to scale operations in priority markets and advance the roadmap toward fault-tolerant machines, including the development of OQC TITAN, which OQC positions as a step toward higher performance and reliability.
Who are the investors?
The round was led by Bullhound Capital. New participants include the British Business Bank, Fynveur (advised by Invus), COFIDES, RCM Private Markets Fund managed by Rokos Capital Management (US) LP, Alpha Edison, Fulcrum Asset Management, Pentland Ventures, Magdalen College Oxford, Adaptive Capital Partners, Firgun Ventures, 18 West and Oxford Capital.
Existing backers Oxford Science Enterprises, SBI, Chevron Technology Ventures, The University of Tokyo Edge Capital Partners Co. and OTIF Ventures also took part. J.P. Morgan acted as exclusive placement agent on the transaction. As part of the deal, Per Roman, Founding Partner of Bullhound Capital, will join OQC’s board.
The investor mix combines specialist technology investors, strategic corporate venture players and public finance. Oxford Science Enterprises is known for deep‑tech and university spinouts; the British Business Bank provides public investment support for UK growth companies; and Chevron Technology Ventures represents strategic corporate interest in quantum’s potential for energy and materials problems.
In the announcement, Per Roman, Founding Partner at Bullhound Capital, said:
OQC is building one of the most compelling quantum computing platforms globally, with the technology, infrastructure and customer focus required to scale. As quantum computing moves into global infrastructure, OQC is positioned to shape that transition. We are pleased to lead this round and support the company's next phase of growth.
In the announcement, George Mills, Investor at British Business Bank, said:
Quantum Computing has the potential to solve some of the hardest computing challenges which remain unsolved by AI, but is held back by its ability to scale up. OQC's systems fill that gap with their world leading speed and scalability. We are delighted to be backing the team at OQC again as they scale up their commercial offering with the development of OQC TITAN.
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Founder perspective
In the announcement, Gerald Mullally, CEO at OQC, said:
OQC was founded to use innovative quantum circuit designs to build engineered systems that scale as simply as possible. I'm proud to be part of the incredible team we have today doing exactly that, to pioneer the future of quantum computing. This investment supports the next stage of our work: advancing system performance and reliability while continuing to integrate quantum computers into the trusted infrastructure customers depend on.
In the announcement, Peter Leek, Founder & Chief Scientific Officer at OQC, said:
OQC has the capital to scale internationally, advance our technology roadmap, and meet increasing demand from customers seeking secure, scalable access to quantum computing infrastructure.
The bigger picture
This round underlines a broader shift in quantum funding from early-stage research grants and lab spinouts to larger private investments aimed at commercial deployment. For the UK and Europe, a high-profile raise like this helps validate the business case for hardware-led quantum companies and may encourage more institutional and strategic investors to participate in the sector.
If OQC can translate the funding into more reliable, higher-capacity machines and meaningful customer deployments, it will strengthen the argument that quantum computing is moving from promise toward near-term utility across finance, national security and other heavy-compute industries. The outcome will be watched closely by policymakers and investors seeking to build competitive ecosystems in the UK and Europe.
They've invested in OQC
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| Investors | Investment Focus | Startup Investments | Round Size | Connect |
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