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August 26, 2015updated 21 Oct 2016 5:27pm

UK Quantum Computing firm attracts $50m investment

Santiago based private fund founder investing

By Sam

Cambridge Quantum Computing has attracted $50m in investment from an individual noted for being an early investor in Google.

The quantum computing firm specialises in developing operating systems for quantum machines.

The founder of Santiago based Group Arcano Alberto Chang-Rajii will join the board of Cambridge Quantum Computing.

Grupo Arcano said: "We are excited and very pleased to become investors into Cambridge Quantum Computing. In agreeing to invest up to USD50million in the course of the next 2 to 3 years, we will be supporting cutting edge development in a sector that has the potential for real global impact."

CQCL stated: "Quantum Computing has developed rapidly in the past 24 months, and we intend to build on our existing position by accelerating the further development of t|ket>, our operating system, as well as enhancing our activity around platforms that can be used to create a quantum processor. During the past 6 months in particular there have been almost weekly announcements about advances in a whole variety of areas that merely skim the surface of progress in key engineering processes."

Qauntum Computers attract much attention because of their promise to revolutionise processing of vast amounts of information at great speed with obvious implications for the financial market applications, environmental sciences and medical research.

Quantum computers use atoms and the properties of sub atomic particles to process data. Advances in quantum computing are reported regularly.

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In April this year IBM said it had developed a quantum computer based on using 5 atoms saying it demonstrated for the first time the potential for true quantum computing.

Chang-Rajii will join existing Chairman Sir Nigel Broomfield and founder and CEO Ilyas Khan on the board. Alberto Chang-Rajii was one of the original investors in Google in 1996. Sir Nigel Broomfield was a senior British Dipolomat and also previously a non-executive director of Smith’s Industries. Ilyas Khan is also the Chairman of the Stephen Hawking Foundation.

 

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