Nu Quantum lands €9.75 million Spanish investment

A Cambridge-based quantum technology business is expanding into southern Europe after securing significant public investment.

Nu Quantum is set to open a Spanish subsidiary after the Spanish Government committed €9.75 million as part of the company’s €51 million Series A funding round, one of the largest ever secured by a UK quantum business. 

The investment was made through the Spanish Society for Technological Transformation (SETT), under the Ministry for Digital Transformation and Public Administration.

Bosses say the new subsidiary, which is expected to create more than 30 highly skilled jobs, will establish a quantum networking and photonic infrastructure centre in Spain, focused on enabling distributed quantum computing. 

They add the operation will support the industrialisation of quantum networking technology and the development of photonic integrated circuits, which are critical to scaling quantum systems for commercial use.

Carmen Palacios‑Berraquero, founder and chief executive at Nu Quantum, said: “When we founded Nu Quantum, it was clear from the beginning that quantum networks and integrated photonics would be essential to solving one of the industry's greatest challenges. 

“Since then, we have made extraordinary progress in shaping both the market and the underlying technologies. 

“This investment from the Government of Spain validates our vision and recognises the maturity of our solution. 

“Being born and raised in Spain, it is especially meaningful to contribute to a national commitment to quantum infrastructure built on PICs and the QNU – areas where Spain has exceptional potential. 

“I am deeply grateful to our team for their talent and relentless drive, and to our investors for their continued support.”

Founded in 2018 as a spin-out from the University of Cambridge, Nu Quantum specialises in connecting quantum computers through secure, scalable networks, allowing multiple machines to operate together in real time. 

This approach tackles one of the industry’s biggest barriers to adoption, scalability, while enabling applications in areas including drug discovery, energy optimisation and secure communications.

By addressing scalability, one of the sector’s key challenges, the technology unlocks applications ranging from drug discovery to energy optimisation and secure communications.

The Spanish expansion aligns with national initiatives including the PERTE Chip and the National Strategy for Quantum Technologies, which are designed to boost Spain’s role in advanced computing, microelectronics and emerging digital technologies.

Óscar López Águeda, minister for digital transformation and the civil service, Government of Spain, added: “There will come a day when quantum technologies are part of everyday conversation. 

“And Spain is preparing for that moment – we are deploying the infrastructure needed for their development and scalability. 

“Nu Quantum will play a key role, enabling Spain’s quantum ecosystem to rely on secure networks that pave the way for the leap toward commercial applications.”

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