February 1, 2023

Nu Quantum raised £2.1M in seed funding

Nu Quantum raised £2.1M in seed funding

Nu Quantum, a spin-out from the University of Cambridge, has announced that it has raised £2.1m in seed funding to aid its efforts to build commercial quantum photonics hardware. This add to the pre-seed round of £650,000 last year.

The funding round was led by Amadeus Capital Partners, with additional investment in Nu Quantum coming from Ahren Innovation Capital, Seraphim Capital, Cambridge Enterprise, Martlet Capital and IQ Capital.

The funding will go towards the construction of an advanced photonics lab for Nu Quantum, which will be used to develop its first commercial product, quantum-level random number generators that will be used as cryptographic keys for secure data storage.

The seed funding round is a vote of confidence in Nu Quantum at a time when the UK is working to establish itself as a key player in the quantum computing space.

The company is also a partner in a National Physical Laboratory-led consortium that has been awarded £2.8m from the UK government’s Industrial Strategy Challenge Fund to develop a UK standard for random number generation.