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British Business Bank invests £40m in Quantum Motion as part of a $160m Series C funding round

Press release 07 May 2026

The British Business Bank has invested £40m in Quantum Motion, a leader in silicon-based quantum computing, as part of a $160m Series C funding round. The Bank previously backed Quantum Motion by making a £5m investment as part of its Series B in 2023.

This investment builds on the Bank’s partnership with the National Security Strategic Investment Fund (NSSIF), who first backed the company in 2020. This investment is a compelling example of how the Bank can work with its partners in the UK Government ecosystem to support businesses to scale over time in the UK.

The round is jointly led by DCVC and Kembara, with participation from Firgun, alongside existing investors. The investment enables Quantum Motion to deliver on its vision of building scalable, commercially useful quantum computers.

Founded in 2017, Quantum Motion is a UK-based spin out from Oxford University and University College London, developing quantum computers on silicon chips which have the potential to reshape industries from drug discovery to finance and cybersecurity.

The funding round follows Quantum Motion’s world-first deployment of a full stack quantum computer built on standard silicon chips – the same material found in everyday phones and laptops – at the UK National Quantum Computing Centre (NQCC).

The company has also advanced to stage B in the DARPA’s Quantum Benchmarking Initiative (QBI) which seeks to determine whether it is possible to build a full-scale quantum computer by 2033 through rigorously verifying and validating different approaches.

This large direct investment follows reforms to the Bank in 2025, allowing it to increase the size of its investments into UK scale ups at the forefront of innovation and growth.

Leandros Kalisperas, Chief Investment Officer at British Business Bank, said:

The Bank is making larger investments in high‑growth companies to give the UK taxpayer exposure to the nation’s emerging tech champions and ensure that our most promising businesses have access to the growth capital they need to start, scale, and stay in the UK. These investments are directly increasing the size of later-stage rounds today, and should be seen as complementary to our broader effort to support larger, external growth funds for UK scale-ups so over time, a greater share of this capital is delivered by the market.

Peter Kyle, Secretary of State for Business and Trade, said:

Backing breakthrough technologies like quantum computing is central to this Government’s mission to make the UK a global science and innovation superpower. That’s why we have empowered the British Business Bank to be bolder in supporting high growth firms - unlocking major investment that will help companies like Quantum Motion scale in the UK, create high value jobs and boost economic growth.

Charlotte Lawrence, Managing Director of Direct Equity, British Business Bank, said:

The race for a fully scalable quantum computer is one of the defining technological challenges of our time. Quantum Motion’s unique approach that combines cutting-edge quantum physics with established silicon manufacturing provides a distinct global edge. We are no longer just theorizing about quantum computing but are actively starting to build the platforms to deliver it here in the UK.

James Palles-Dimmock, CEO of Quantum Motion, said:

Today’s announcement reflects the strength of the team we have built and the progress they have delivered. Quantum computing will only achieve its full potential if it can be built on a platform that scales, and we believe silicon is the strongest route to achieving that. We are pleased to be joined by investors who share our vision and understand what it takes to build a foundational company in this field.

Science Minister Lord Vallance said:

Quantum computing could transform everything from drug discovery to how we manage energy and supply chains or enhance national security. Spinout companies like Quantum Motion are scaling up in the UK and putting our ambitions for this technology into practice – tapping into exceptional talent to bring Quantum closer to everyday use. This major investment is another strong vote of confidence in the UK as a global quantum hub, building on the Government’s significant backing of up to £2 billion for the sector, to drive economic growth and deliver real benefits for people across the country.

Alongside new investors, including DCVC, Kembara, and Firgun, the Series C round is supported by returning backers Oxford Science Enterprises, Inkef, Bosch Ventures, Porsche Automobil Holding SE and Parkwalk Advisors.

Since its last funding round in 2023, the company has expanded its global presence, opening new labs and offices in Spain and Australia. It also strengthened its ecosystem through academic and industrial partnerships, including with GlobalFoundries.

Further Information

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Notes to editors

About British Business Bank

The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive economic growth by helping smaller businesses get the finance they need to start, scale and stay in the UK. In doing so, we help capture the economic value of innovation for the UK and create jobs and prosperity for people across the country. 

The British Business Bank’s core programmes support £23bn 1  of finance to almost 64,000 2  smaller businesses.

British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. It is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at british-business-bank.co.uk.

The above investment is operated by British Patient Capital Limited, a wholly owned commercial subsidiary of British Business Bank plc. British Patient Capital Limited is registered in England and Wales with company number 11271076, and registered office at Steel City House, West Street, Sheffield, S1 2GQ. British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc, its subsidiaries or any other party in respect of Quantum Motion or its products or services.

About Quantum Motion

Quantum Motion builds utility-scale quantum computers using industry-standard silicon transistors. Built on a scalable array of qubits using the silicon technology found in smartphones and computers, Quantum Motion is developing the most scalable, cost-efficient quantum computers designed to fit inside standard, existing data centres. The company has global labs and offices across the UK, Europe, and Australia. 

Learn more at quantummotion.com,

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