24 February 2023
We have advised global tech investor Prosus Ventures on its participation in Oxford Ionics' £30 million Series A funding round.
Founded in 2019, Oxford Ionics is working to unlock the true power and potential of quantum computing through its pioneering trapped-ion technology, which uses a patented Electronic Qubit Control system to deliver unrivalled quantum performance in processors that are integrable and scalable as standard – a first for any quantum computing technology.
Prosus Ventures participated in the round alongside Oxford Science Enterprises, Braavos Investment Advisers, Lansdowne Partners, 2xN, Torch Partners, and Hermann Hauser (founder of chip giant ARM).
Commenting on the deal, corporate partner Josef Fuss said: "Oxford Ionics is delivering truly deep tech and is a great example of the trend we're seeing in the UK of world-leading universities producing companies that are tackling some of the most difficult science and engineering problems."
Corporate senior associate Ed Chapman added: "It's been great to partner with the team at Prosus Ventures on another hugely exciting investment, and we're looking forward to following the progress of Chris, Tom and the wider Oxford Ionics team over the coming months and years as they continue to scale the business."
The deal was led by partner Josef Fuss and senior associate Ed Chapman, with support from partner Adrian Toutoungi and senior associate Sumer Dayal in the IP team.