Honeywell-backed Quantinuum is said to weigh new funding at $10B valuation

[A futuristic glowing quantum computer unit, 3d render]
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Honeywell International (NASDAQ:HON [https://seekingalpha.com/symbol/HON]) and other investors are exploring a fresh funding round for quantum computing company Quantinuum that could value the firm at roughly $10 billion, Bloomberg News reported Wednesday, citing people with knowledge of the talks.

The potential raise, which could amount to several hundred million dollars, has been discussed with existing shareholders as well as prospective new investors. Among those approached is chipmaker Nvidia (NVDA [https://seekingalpha.com/symbol/NVDA]), though no final decisions have been made and the outcome remains uncertain.

Quantinuum, led by CEO Rajeeb Hazra, specializes in quantum computing systems designed to tackle problems too complex for conventional computers, with applications spanning chemistry, artificial intelligence and cybersecurity. The business was created in 2021 through the merger of Cambridge Quantum and Honeywell Quantum Solutions.

The company last raised $300 million in January 2024 in a round led by JPMorgan Chase, which valued it at $5 billion before the deal. It now employs more than 500 staff across the U.S., U.K., Germany and Japan.

Honeywell (NASDAQ:HON [https://seekingalpha.com/symbol/HON]), which has recently announced plans to separate into three standalone businesses focused on aerospace, automation and advanced materials, declined to comment to Bloomberg News on the fundraising discussions. Nvidia (NVDA [https://seekingalpha.com/symbol/NVDA]) also declined to comment.

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