Oxford quantum computing spinout QuantrolOx lands £10m funding boost

A quantum computing technology company which was spun out of Oxford University and won backing from the Arm Holdings founder Hermann Hauser has landed £10m in a new fundraising.

Sky News understands that QuantrolOx will announce this week that it has secured €12m in a round led by IW Capital, an early-stage investor which has backed start-ups including Magic and Lucida.

The capital injection, which was also backed by the EU's European Innovation Council Fund, will enable QuantrolOx to accelerate the development and deployment of its machine learning software, as well as its expansion in North America.

Money latest: DWP given power to seize cash from bank accounts

QuantrolOx automates the tuning and control of quantum computers - a key element of their operation.

The company was founded in 2021.

Its latest round, which was also backed by Transpose Capital, comes as billions of dollars are poured into quantum computing hardware by investors around the world.

Now headquartered in Finland, the company's co-founders included chief executive Vishal Chatrath, and Professor Andrew Briggs, Emeritus Professor of Nanomaterials at Oxford University.

Mr Chatrath said QuantrolOx was "building the foundations of the quantum industry".

"Our tools industrialise quantum hardware and train the people to run it.

"With IW Capital and the EIC Fund behind us, we are setting the standards and accelerating the path to practical quantum computing."

McKinsey, the consulting firm, estimates that quantum computing could create as much as $2.7trn in economic value by 2035, underlining the scale of its potential.

More from Sky News:
Wider wave of attacks feared as flaw hits websites worldwide
Barclays cutting 5,000 jobs in AI-led efficiency drive

QuantrolOx, whose other backers have included Mr Hauser and the early Deliveroo investor Hoxton Ventures, aims to overcome a bottleneck in the supply of specialists who can tune quantum computers by automating the process.

"QuantrolOx has automated the slowest, most expert-dependent part of running a quantum computer, on any hardware," said Charlie Lyon Carroll, investment director at IW Capital.

"With research accelerating and governments investing massive amounts of capital to support it, that software only gets more valuable."

The valuation at which the new funding was raised was not disclosed by the company.

(c) Sky News 2026: Oxford quantum computing spinout QuantrolOx lands £10m funding boost