Oxford Quantum Circuits, or OQC, specialises in quantum computer hardware. Its approach to superconducting circuits aims to reduce the error rate in quantum computers, which store information in a measurement called qubits (traditional computers use bits).

Oxford Quantum Circuits says its three-dimensional architecture for superconducting circuits makes it less likely for the quality of a qubit to degrade, compared to two-dimensional circuits.

In February, the company launched Lucy, an 8-qubit processor, which is available for enterprise customers as part of Amazon Web Service’s (AWS) cloud-based quantum computing services.

The processor is used by businesses in financial services, pharma, and logistics. OQC spun out of the University of Oxford in 2017 and was founded by CEO Ilana Wisby.

Wisby said: “Since launching the UK’s first commercially available quantum computer, we have continued to be highly impressed with both the technical developments and also the future ambitions of OQC,” said Peter Davies, partner, and head of developed markets strategy at Lansdowne Partners.