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- Oxford Ionics
Oxford Ionics Acquisition, Valuation, Funding & Investors
Oxford Ionics was acquired by IonQ for $1.1B in June 2025.
Cumulative funding Oxford Ionics raised
$43M
across 3 funding rounds
Key investors in Oxford Ionics
Oxford Science Enterprises
IP Group
Prosus Ventures
Lansdowne Partners
2xN
Hermann Hauser
National Security Strategic Investment Fund
Braavos Investment Advisers
About Oxford Ionics
Oxford Ionics is an Oxford-based quantum computing company developing trapped-ion qubits with integrated electronic control for scalable quantum processors. Its technology enables parallel manipulation of qubit arrays with low noise, supporting applications in computation and simulation. The firm collaborates with partners like SEEQC for cryogenic electronics integration. Oxford Ionics has demonstrated two-qubit logic gates with fidelities exceeding 99.9 percent and continues to advance rack-mountable quantum systems deployable in data centers.
Founded
2019
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Licensing
Valuation
$1.1B (acquired Jun 2025)
Oxford Ionics Acquisition
Oxford Ionics was acquired by IonQ for $1.1B on 9 June 2025.
Before the acquisition Oxford Ionics had raised $43M across 3 funding rounds.
Oxford Ionics, a UK-based quantum computing company and University of Oxford spinout, develops trapped-ion quantum systems manufactured on standard semiconductor chips, holding world records for quantum operation fidelity and accuracy. IonQ, a US-listed leader in quantum computing and networking using trapped-ion technology (NYSE: IONQ), announced a definitive agreement on June 9, 2025, to acquire Oxford Ionics for $1.075 billion, comprising $1.065 billion in IonQ common stock and $10 million in cash, subject to customary adjustments. The deal aligns with US-UK strategic cooperation in next-generation technologies, positioning Oxford as a global quantum R&D hub, and supports IonQ's expansion into the UK, Europe, Asia, and collaborations with universities and public-sector partners. The acquisition, completed on September 17, 2025, integrates Oxford Ionics' patented ion-trap innovations and world-class scientific team with IonQ's quantum compute, application, networking stack, hardware, and software to accelerate development of scalable, high-fidelity, fault-tolerant quantum computers targeting 2 million physical qubits and 80,000 logical qubits by 2030. Strategic rationale focuses on complementary technologies for superior performance in drug discovery, materials science, financial modeling, logistics, chemistry, aerospace, cybersecurity, and defense, enhancing problem-solving scale and reliability. IonQ plans to maintain Oxford Ionics' UK operations, expand its workforce, and leverage the combined entity's global resources and customer base amid IonQ's broader acquisition spree including Qubitekk, Capella Space, Lightsynq, and a majority stake in ID Quantique. Regulatory approval came via a UK final order granting IonQ 100% control of Oxford Ionics Limited, marking it the highest-value acquisition of any University of Oxford quantum spinout. CEO Niccolo de Masi emphasized acceleration toward quantum advantage and ecosystem standardization, while Oxford Ionics co-founder and CEO Dr. Chris Ballance highlighted near-term commercial impact and long-term societal transformation through practical quantum solutions.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 9 Jun 2025 | Strategic M&A | $1.1B |
Oxford Ionics Funding History
Oxford Ionics has raised a total of $43M across 3 funding rounds.
Oxford Ionics' first fundraising round was a $3M seed round in June 2020. The most recent completed round was a $3M seed round in August 2023.
Oxford Ionics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Aug 2023 | Seed | National Security Strategic Investment Fund (lead) | $3M | Oxford Ionics, a University of Oxford spin-out founded in 2019, develops trapped-ion quantum computing technology with chip-integrated quantum processors achieving world-record qubit fidelity. The company secured a £2 million ($2.5M USD) grant from the UK's National Security Strategic Investment Fund (NSSIF) on August 30, 2023, to advance its Electronic Qubit Control (EQC) system that combines trapped ions with silicon chip electronics. This followed a prior Series A round earlier in 2023 raising £30 million from investors including Oxford Science Enterprises, Braavos Investment Advisers, Lansdowne Partners, Prosus Ventures, 2xN, Torch Partners, and Hermann Hauser. Dipesh Patel, former CTO of ARM, joined as a non-executive director. Oxford Ionics later entered an agreement to be acquired by IonQ in June 2025 for $1.075 billion, primarily in IonQ stock, to accelerate fault-tolerant quantum computing development. |
| Jan 2023 | Series A | Braavos Investment Advisers (lead); Oxford Science Enterprises (lead); Lansdowne Partners; Torch Partners; Hermann Hauser; Prosus Ventures; 2xN | $37M | Oxford Ionics, founded in 2019 by Dr. Chris Ballance and Dr. Tom Harty, develops scalable quantum computing technology using trapped-ion qubits combined with patented Electronic Qubit Control (EQC) for integration into semiconductor chips. The company holds world records in quantum gate error rates, coherence times, and networking performance, positioning it as a leader in high-fidelity quantum systems. In January 2023, Oxford Ionics raised £30 million ($36-36.5 million) in a Series A round led by Oxford Science Enterprises and Braavos Investment Advisers, with participation from Lansdowne Partners, Prosus Ventures, 2xN, Torch Partners, and Hermann Hauser. The funding brought total capital raised to £37 million and was intended to expand the team, advance scalability, integration, and performance challenges in quantum computing, and build on trapped-ion superiority over other modalities. Investors highlighted the potential for production-line manufacturing in partnership with Infineon Technologies and room-temperature operation. The quantum sector saw strong investor interest, with startups raising $1.94 billion in 2024. Subsequently, IonQ announced a $1.07-1.075 billion acquisition of Oxford Ionics in June 2025, primarily in stock, valuing the company at that later stage after $53 million in prior venture and grant funding. |
| Jun 2020 | Seed | Atmos Ventures (lead); IP Group; Oxford Science Enterprises | $3M | Oxford Ionics raised a £2.7M seed round on June 9, 2020, from Atmos Ventures, Oxford Science Enterprises, and IP Group. The company develops ion trap-based quantum computers using trapped-ion technology. Founded in 2019 by physicists Chris Ballance and Tom Harty from the University of Oxford, it addresses scalability issues in quantum control systems. |
Who has invested in Oxford Ionics?
10 investors have backed Oxford Ionics across its funding rounds, including Oxford Science Enterprises, IP Group, Prosus Ventures, Lansdowne Partners, 2xN and Hermann Hauser.
Lead investors include National Security Strategic Investment Fund, Braavos Investment Advisers, Oxford Science Enterprises and Atmos Ventures.
Oxford Ionics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jun 2020 | ||
| 1 | Lead | Aug 2023 | ||
| 1 | Participant | Jun 2020 | ||
| 1 | Participant | Jan 2023 | ||
| 1 | Lead | Jun 2020 | ||
| 1 | Participant | Jan 2023 | ||
| 1 | Participant | Jan 2023 | ||
| 1 | Lead | Jan 2023 | ||
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Start Free TrialOxford Ionics Competitors
Oxford Ionics competitors include listed companies like UBtech Robotics and Infleqtion, and private ones like IQM Quantum Computers, QuEra Computing, SeeQC and Nord Quantique.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $298M | ($108M) | $5.1B | 9.5x | ||
| Private | $35M | - | $1B | 28.6x | ||
| Private | $41M | - | $1B | 24.4x | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1.4B | - | ||
| Publicly listed | $29M | ($52M) | $3.1B | 64.5x |
Oxford Ionics Public Comps
Oxford Ionics is no longer listed, but its public comps include Extreme Vision, SEER Robotics, AEVEX, Braiin, Xtend AI Robotics, Cidi, Eacon Group, POET Technologies, Boost Run and Kodiak AI.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $44M | ($6M) | 22.8x | 11.6x | (163.7x) | - | |||
| $66M | ($6M) | 13.2x | - | (156.2x) | - | |||
| $433M | $30M | 5.2x | 3.5x | 74.9x | 25.6x | |||
| $73M | ($15M) | 15.8x | 13.0x | (76.1x) | 89.6x | |||
| $20M | ($27M) | 64.2x | - | (47.5x) | - | |||
| $132M | ($155M) | 8.8x | 5.0x | (7.5x) | (22.7x) | |||
| $214M | ($33M) | 6.6x | - | (42.5x) | - | |||
| $1M | ($60M) | 475.5x | 106.5x | (8.6x) | - | |||
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Common questions about Oxford Ionics
| When was Oxford Ionics founded? | Oxford Ionics was founded in 2019. |
| Where is Oxford Ionics headquartered? | Oxford Ionics is headquartered in Oxford, United Kingdom. |
| Is Oxford Ionics publicly listed? | No, Oxford Ionics was acquired by IonQ in June 2025. |
| Who acquired Oxford Ionics? | Oxford Ionics was acquired by IonQ in June 2025. |
| How much was Oxford Ionics acquired for? | Oxford Ionics was acquired for $1.1B in June 2025. |
| How much funding has Oxford Ionics raised? | Oxford Ionics has raised $43M across 3 funding rounds. |
| What was Oxford Ionics' last funding round? | Oxford Ionics' last funding round was a $3M seed round in August 2023, led by National Security Strategic Investment Fund. |
| Who are Oxford Ionics' investors? | Oxford Ionics' investors include Oxford Science Enterprises, National Security Strategic Investment Fund, IP Group, Lansdowne Partners, Atmos Ventures, Torch Partners, Hermann Hauser, Braavos Investment Advisers, Prosus Ventures and 2xN. |
| Which companies are comparable to Oxford Ionics? | Companies comparable to Oxford Ionics include UBtech Robotics, IQM Quantum Computers, QuEra Computing, SeeQC, Nord Quantique and Infleqtion. |
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