Maybell Quantum (“Maybell”), the quantum infrastructure company, has closed a $25 million funding round led by an affiliate of Cerberus Capital Management, L.P. (“Cerberus”), a global leader in alternative investing. This investment marks the start of a pivotal chapter in Maybell’s development.

SBQuantum, the first company developing diamond quantum magnetometers to accelerate critical mineral discovery, today announces a new partnership with Silicon Microgravity, a disruptive technology company developing innovative inertial and gravity sensors. The project will see the development of a drone-based system of sensors combining magnetics and gravimetry to accelerate the location and analysis of underground mineral deposits for the mining industry. This joint approach will significantly reduce the time and capital required for locating and analysing deposits in the field, while also improving 3D geological readouts.

University of Nottingham spin-out company Cerca Magnetics has been awarded £2m as part of £45 million government investment in the UK's quantum sector for wearable brain imaging research to help detect early signs of dementia.

Three spin-out companies set up by UK Quantum Technology Hub Sensors and Timing researchers received Quantum Catalyst funding, as announced by the Department for Science, Innovation and Technology (DSIT) on 5 February 2024.

The Ontario government is investing up to $14.9 million to support a project by Quantum Valley Ideas Lab (QVIL), an independent research laboratory in Waterloo, that will accelerate the development and adoption of quantum science technologies by Ontario companies.