Oxford Quantum Circuits Raises $100M & Quantum Compute as a Service (QCaaS) Follow Nov 27, 2023 · 2 mins read
Oxford Quantum Circuits Raises $100M & Quantum Compute as a Service (QCaaS)
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UK-based quantum computing company OQC recently closed a $100 million Series B funding round led by SBI Investment, Japan’s leading VC firm. The record round will support OQC’s launch of Toshiko, an upgradeable 32-qubit quantum computer deployed in commercial data centers globally.

Toshiko represents a critical milestone - quantum platforms have typically been restricted to lab environments, limiting wider business adoption. By placing secure quantum infrastructure within mainstream data centers, OQC aims to make next-gen computing easily accessible for any sector.

Bringing Quantum Computing Out of the Lab

Quantum computers leverage complex physics principles like superposition and entanglement to massively outperform classical systems on certain workloads. However, fragile state-of-the-art platforms require complex infrastructure only found in specialized facilities.

OQC’s Toshiko platform overcomes this by leveraging major data center provider Equinix’s cutting-edge digital interconnect fabric. This allows Toshiko to be deployed at scale while letting customers seamlessly tap into its power remotely.

For sectors like finance, pharmaceuticals, and defense dealing with highly sensitive data, having quantum systems securely available via data centers is especially beneficial. Hybrid quantum-classical workflows can be executed without exposure risks.

QCaaS and The Path to Quantum Advantage

OQC Toshiko also represents an important step toward “Quantum Computing as a Service.” Making quantum infrastructure easily accessible from anywhere allows more organizations to explore use cases and build skills. This supports the ecosystem’s broader maturation.

While quantum is powerful for specific applications, decades of progress will likely occur before quantum advantages classical computing across the board - an achievement dubbed “quantum advantage.” Platforms like Toshiko will be key to refining hardware and software to hasten widespread quantum advantage.

By combining Toshiko with high-performance computing resources via cloud services like AWS and Microsoft Azure, OQC can offer “Quantum Computing as a Service” from the data center layer. More seamless integration and hybrid workflows will empower more impactful use cases.

Financial firms, for instance, can leverage Toshiko and classical resources in tandem to develop complex financial models and derivatives pricing applications. Energy companies can better simulate molecular interactions to advance materials science.

The $100 million funding round will fuel OQC’s progress towards platforms with hundreds of qubits to pursue breakthrough applications. But by launching Toshiko today in data centers like Equinix, the power of quantum can already be productively tapped by customers across sectors, unlocking innovation and competitive advantages.

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