Oxford Ionics

In July 2024, Oxford Ionics’ chips set industry records in both two-qubit gate and single-qubit gate performance, achieving fidelities of 99.97% and 99.9992%, respectively, without the need for error correction. In September 2024, Oxford Ionics won a multimillion-dollar contract alongside Infineon Technologies AG to build a portable quantum computer called MinIon for Cyberagentur, a German government-backed agency. In November 2024, Oxford Ionics earned the prestigious IOP Business Innovation Award for their innovative electronic qubit control system that enables scalable architectures with world-leading performance manufactured on standard semiconductor production lines. In March 2025, Oxford Ionics was selected by the UK’s Department of Science, Technology, and Innovation (DSIT) for the Quantum Missions Pilot program with the Q-Surge project aiming to enhance quantum computing scalability through advanced 2D ion trap technology. On June 2025, IonQ agreed to acquire Oxford Ionics in a transaction valued at $1.075 billion. In August 2025, Oxford Ionics successfully installed QUARTET, a full-stack trapped-ion quantum computer, at the UK’s National Quantum Computing Centre (NQCC) at Harwell.

2025 Developments: In September 2025, Oxford Ionics acquisition by IonQ formally completed, valued at $1.075 billion. Represents largest quantum acquisition originating from University of Oxford. Prior to acquisition, raised £37 million from Braavos, OSE, Lansdowne Partners, Prosus Ventures, and Hermann Hauser. In April 2025, selected by DARPA for Quantum Benchmarking Initiative

Company Information

• Founded: 2019
• Country: United Kingdom
• Website: https://www.oxionics.com
• Categories: quantum processors

Key People

Chris Ballance (Co-founder, CEO), Tom Harty (Co-founder, CTO)

Investment Information

• Status: acquired
• Total Raised: $1095M
• Last Valuation: $1.075B

Recent Funding Rounds

• 2025-06-20: acquisition - $1.075B - Acquired by IonQ - largest quantum computing acquisition in history
• 2021-08-18: series-a - $20M - Series A funding round

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