Honeywell International Inc. and other backers of Quantinuum are considering raising money for the quantum computing firm at a valuation of around $10 billion, people familiar with the matter said. Discussions have taken place with existing Quantinuum investors, as well as possible new backers, about a fresh injection of capital, according to the people. The size of the fundraising is expected to run into the -hundreds of millions of dollars, they said. Semiconductor company Nvidia Corp. is among those that has been approached about potentially investing in Quantinuum, the people said, asking not to be identified discussing confidential information. Deliberations are ongoing and there’s no certainty that they’ll result an agreement, the people said. A spokesperson for Quantinuum directed a comment request to Honeywell. Representatives for Honeywell and Nvidia declined to comment. Led by Chief Executive Officer Rajeeb Hazra, Quantinuum develops powerful so-called quantum computers capable of solving complex tasks that are beyond the abilities of classical computing. Its platforms can be used in fields such as chemistry, machine learning and cybersecurity. The company was formed in 2021 by the merger of Cambridge Quantum and Honeywell Quantum Solutions. In January 2024, Quantinuum closed a $300 million funding round led by JPMorgan Chase & Co. at a pre-money valuation of $5 billion. It has more than 500 employees spread across the US, UK, Germany and Japan. Earlier this year, Honeywell announced a plan to split into separate publicly traded companies focused on aerospace, automation and advanced materials.

Full story : Promoters of quantum computing startup, Quantinuum are considering raising money for the quantum computing firm at a valuation of nearly $10 billion.

For more see the OODA Company Profile on Quantinuum.