Additional participants include Mitsui & Co., Amgen and Honeywell, which remains the company’s majority shareholder. This investment brings the total capital raised by Quantinuum since inception to approximately $625 million.

JPMorgan Chase has has been working with Quantinuum and its predecessor companies since 2020. The company was one of the earliest experimental users of Quantinuum’s H-Series quantum processor and is also one of the most active corporate partners that employs Quantinuum’s software development kit.

Lori Beer, global chief information officer at JPMorgan Chase says: “Financial services has been identified as one of the first industries that will benefit from quantum technologies. As such, we have been investing in quantum research and our team of experts – led by Dr. Marco Pistoia – have made groundbreaking discoveries, partnering with quantum computing leaders like Quantinuum. We look forward to continuing to work together to positively impact our businesses, customers and the industry at large.”

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In June HSBC also began work with Quantinuum on a series of exploratory projects looking at the use of quantum computing in banking, with a particular focus on cybersecutiry.