M Squared garners £32.5M in financing to advance quantum technology

Dec. 2, 2020
The significant investment will enable M Squared to further advance its research and development; this is key to upscaling its pioneering work in quantum technology alongside its technologies to help tackle climate change.

Photonics and quantum technology developer M Squared (Glasgow, Scotland) has received £32.5 million (over $43.4 million) in financing as it expands its backers to support its growth and technology developments.

Santander UK will be providing a £20 million (over $26.7 million) debt facility, allowing M Squared’s founders and management team, led by Graeme Malcolm, to fund the acquisition. The newly formed Scottish National Investment Bank will also support M Squared with £12.5 million (over $16.7 million) of growth capital. 

This significant investment from the newly established Scottish National Investment Bank will enable M Squared to further advance its research and development. This is key to upscaling its pioneering work in quantum innovation alongside its technologies to help tackle climate change.  

M Squared’s innovations are addressing global scientific and technology challenges in fields including climate change, healthcare, quantum computing, and virtual reality. Therefore, M Squared’s activities will make a contribution to all three of the Scottish National Investment Bank’s proposed core missions to support Scotland’s transition to net zero, build communities and promote equality, and harness innovation to enable our people to flourish. 

Earlier in 2020, M Squared announced it is leading the UK’s largest industry-led commercial quantum computing project as part of an Innovate UK Challenge fund, DISCOVERY. The company has also leveraged investment as part of the project Square, meaning that total investment has reached £50 million (over $66.8 million) in the year to date despite the COVID-19 pandemic

M Squared is now at the forefront of UK efforts to commercialize revolutionary quantum technology, which is considered a major component of central government’s commitment to research and development and its future industrial strategy. This transaction provides the financial strength and independence for the business to play a significant role in the next stage of this technology’s commercialization. 

Source: M Squared press release

About the Author

LFW Staff

Published since 1965, Laser Focus World—a brand and magazine for engineers, researchers, scientists, and technical professionals—provides comprehensive global coverage of optoelectronic technologies, applications, and markets. With 80,000+ qualified print subscribers in print and over a half-million annual visitors to our online content, we are the go-to source to access decision makers and stay in-the-know.

Sponsored Recommendations

Request a quote: Micro 3D Printed Part or microArch micro-precision 3D printers

April 11, 2024
See the results for yourself! We'll print a benchmark part so that you can assess our quality. Just send us your file and we'll get to work.

Request a free Micro 3D Printed sample part

April 11, 2024
The best way to understand the part quality we can achieve is by seeing it first-hand. Request a free 3D printed high-precision sample part.

How to Tune Servo Systems: The Basics

April 10, 2024
Learn how to tune a servo system using frequency-based tools to meet system specifications by watching our webinar!

Precision Motion Control for Sample Manipulation in Ultra-High Resolution Tomography

April 10, 2024
Learn the critical items that designers and engineers must consider when attempting to achieve reliable ultra-high resolution tomography results here!

Voice your opinion!

To join the conversation, and become an exclusive member of Laser Focus World, create an account today!