Colorado, USA-based, the world’s quantum information company, Infleqtion, received equity funding from Innovate UK. The company announced the award on June 26, 2023. However, it did not disclose the amount of the funding received.
Purpose of funding for Infleqtion
With the latest financing, Infleqtion seeks to expand its manufacturing capabilities for quantum-enabled systems. The funding further supports the development of a new type of optical atomic clock that far exceeds the accuracy and reliability of current Global Navigation Satellite Systems (GNSS)-based systems.
In addition, Infleqtion seeks to commercialize its new optical atomic clock and make the UK a global leader in the development and manufacture of quantum-enabled PNT systems. The winning Infleqtion project intends to also establish a sovereign UK capability to manufacture critical subsystems, such as microfabricated atomic vapour cells and photonic frequency combs.
What the company’s official has to add
Scott Faris, CEO of Infleqtion, said, “Infleqtion offers unrivalled expertise, with products and R&D efforts spanning the whole quantum ecosystem, including quantum computing, quantum sensing, and positioning, navigation, and timing (PNT). With a strong foundation, a highly skilled team, and the support of Innovate UK, Infleqtion UK is well-positioned to drive innovation and deliver groundbreaking solutions that will transform the field of PNT and quantum-enabled systems.”
In addition, Dr Timothy Ballance, General Manager of Infleqtion UK, commented, “This project will deliver the UK’s first commercially available optical atomic clock, which will provide a crucial layer of resilience across many national security applications. The funding will allow Infleqtion to advance its manufacturing capability in the UK for systems required to build a wide range of quantum-enabled products. Coupled with our engineering expertise, we are in an excellent position to lead the market in delivering next-generation commercial atomic clocks at scale.”
What the investors and other experts have to add
Minister of State at the new Department for Science, Innovation and Technology, George Freeman MP, further said, “We are on the cusp of a quantum technology revolution, set to deliver transformational increases in computer processing speed and power in a whole new field of capabilities in sensing, communications, encryption, cyber security and navigation. We are making sure the UK is ready to harness it for the benefit of all.”
Besides, Will Drury, Executive Director, Digital and Technologies at Innovate UK, said, “Our exceptional researchers, businesses and innovators are continuously pushing the boundaries of Quantum Technology development, placing the UK at the leading edge of this field. Together, through this support and investment, we will work in partnership to realize the potential of this technology for our UK economy and society.”
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