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Quantum Exponential Group PLC said on Monday it invested £450,000 in Universal Quantum Ltd through an advanced subscription agreement.
Brighton-based Universal Quantum is a company focused on building the world's first million quantum bit quantum computers.
Quantum Exponential's investment will convert into shares on the earlier of a further financing round of at least £10 million, a sale, a liquidation event, or the subscription agreement's first anniversary.
The funds will be used to continue Universal Quantum's focus on its integrated Quantum Processing Unit.
Quantum Exponential Chief Executive Steven Metcalfe said: ‘Universal Quantum is an excellent addition to our investment portfolio. Current quantum computers are made up of less than 150 qubits, they will need to scale up to the million-qubit range in order to unlock the full potential of their impact on society.
‘Governments globally have stated their support for emerging technologies, such as quantum technologies, which have the potential to create new industries and change the way we live our lives.’
Quantum Exponential shares untraded at 3.0p in London.
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