Funding round
Oxford Quantum Circuits Series B
Oxford Quantum Circuits, which works in quantum compute-as-a-service in Reading, raised $100M in a Series B round announced on 27 Nov 2023, led by SBI Investment. 5 firms took part. It is Oxford Quantum Circuits' third venture round on record; the one before was a Series A in Jul 2022.
$100M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Oxford Quantum Circuits did not disclose a valuation in this round. It came 16 months after Oxford Quantum Circuits' Series A. It is 20% of the $498M Oxford Quantum Circuits has raised in the venture rounds on record. Oxford Quantum Circuits raised again 31 months later: a Series C round of $350M in Jun 2026.
Oxford Quantum Circuits' funding rounds
Oxford Quantum Circuits has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
SBI Investment led the round with 4 other firms.
Lead investor
- backs 96 venture-backed companies new investor
Also in the round
- Chevron Technology Ventures new investor
- Lansdowne Partners new investor
- backs 52 venture-backed companies new investor
- University of Tokyo Edge Capital new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
550 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $26M, and this round was 3.8 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 6 Nov 2023 | $500M | not disclosed | Robert Bosch Venture Capital and Schwarz Group |
| Tech Companies | 29 Nov 2023 | $91M | not disclosed | Scottish Equity Partners and Bpifrance |
| Chainguard Tech Companies | 1 Nov 2023 | $61M | not disclosed | Spark Capital |
| Tech Companies | 29 Nov 2023 | $45M | not disclosed | not named |
| Tech Companies | 8 Nov 2023 | $40M | not disclosed | Menlo Ventures |
| Tech Companies | 7 Nov 2023 | $35M | not disclosed | Vintage Investment Partners |
| Tech Companies | 1 Nov 2023 | $34M | not disclosed | Felicis |
| Tech Companies | 29 Nov 2023 | $32M | not disclosed | WestBridge Capital and StepStone Group |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Oxford Quantum Circuits raise in its Series B round?
Oxford Quantum Circuits raised $100M in its Series B round, announced in Nov 2023.
Who led Oxford Quantum Circuits' Series B round?
SBI Investment led it, with Chevron Technology Ventures, Lansdowne Partners, Oxford Science Enterprises and University of Tokyo Edge Capital.
What was Oxford Quantum Circuits' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
550 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $26M, and this round was 3.8 times the median.
Did Oxford Quantum Circuits raise again after this round?
Yes: a Series C round in Jun 2026 of $350M.