Honeywell’s Quantinuum raises $600M at $10B valuation

Honeywell’s quantum computing subsidiary, Quantinuum, has secured about $600 million in new funding, doubling its valuation to $10 billion in less than a year. The announcement came Thursday, underscoring accelerating investor interest in quantum technologies.

The round was led by a mix of new and existing backers. Fresh investments came from Quanta Computer, QED Investors, and NVentures, the venture capital arm of Nvidia. Current shareholders, including JPMorgan Chase, Mitsui, and majority owner Honeywell, also participated.

This marks a sharp jump from January 2024, when Quantinuum was valued at $5 billion, highlighting both growing confidence in the company and the broader momentum in the quantum computing sector.

Nvidia’s Expanding Quantum Ambitions

Nvidia, one of the world’s most influential chipmakers, has been ramping up its quantum computing push. Earlier this year, it opened a quantum computing research lab in Boston, working with startups and research firms such as Quantinuum to explore next-generation computing architectures.

Quantum computing, still in its early stages, promises to tackle problems too complex for today’s most powerful supercomputers. These range from designing new materials and medicines to optimizing logistics and financial models.

IPO on the Horizon

Honeywell CEO Vimal Kapur signaled in a July earnings call that the fundraising is part of a longer-term strategy to prepare Quantinuum for an initial public offering, potentially slated for 2027.

If successful, the spinoff could be one of the most significant public debuts in the quantum computing industry, positioning Quantinuum as a front-runner in a field where global tech giants and specialized startups are racing for breakthroughs.