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CHARLOTTE, N.C., January 18, 2024 — Honeywell has completed $300 million in equity financing for integrated quantum computing company Quantinuum. The round closed at a pre-money valuation of $5 billion. Honeywell said the financing was backed by Quantinum’s strategic partner JPMorgan Chase, with participation from Mitsui & Co., Amgen and Honeywell itself, which remains the company’s majority shareholder.
Quantinuum’s technology is currently used by companies such as Airbus, BMW Group, Honeywell, HSBC, JPMorgan Chase, Mitsui & Co., and Thales. These organizations work together to help solve problems, from designing and manufacturing hydrogen batteries for transportation to developing materials to safely sequester carbon from the atmosphere to support the world’s energy transition. We are exploring ways to design and extend quantum capabilities. Quantinuum is also working on developing quantum natural language processing to help make next generation AI scalable and fit for purpose.
According to Honeywell, Quantinuum will use the funding to accelerate its path to universal fault-tolerant quantum computers and expand Quantinuum’s software products to increase commercial availability.
This funding is Quantinuum’s first round of equity since it was founded in November 2021 through the merger of Cambridge Quantum Computing and Honeywell Quantum Solutions.
This investment brings the total capital raised by Quantinuum since its inception to approximately $625 million.
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