Oxford Quantum Circuits (OQC) closed a £260 million ($350 million) Series C, the largest private quantum‑computing raise in Europe. Led by Bullhound Capital, the round also drew the British Business Bank and a slate of European and Asian investors. The funding marks the fourth megadeal for a European quantum firm this year, underscoring deepening capital appetite for the nascent sector.

OQC builds superconducting qubits, the same technology used by IBM, Google and Finland’s IQM. Its cloud‑access model lets clients rent time on quantum processors hosted in data‑centres such as Equinix and Digital Realty, avoiding on‑premise hardware costs. To date the firm operates systems in London, Tokyo and New York, with two additional sites pending.

The Series C fuels OQC’s next‑gen system, which currently delivers 32 qubits—insufficient for full‑scale algorithms but enough for pilot projects. The raise values OQC at roughly £1.2 billion, thrusting it into Europe’s elite deep‑tech tier. Funding will also accelerate deployments in additional data‑centre hubs, including sites in Singapore and Frankfurt, broadening its global footprint for regulated industries.

OQC’s cloud‑access model appeals to finance and defence firms that require data sovereignty, allowing quantum time purchase without on‑premise hardware. By integrating quantum processing units with existing CPUs and GPUs, the company positions itself as a bridge between classical and quantum workloads. The deal signals investors’ confidence that quantum services will soon generate measurable revenue.