A quantum computing cleanroom.
Honeywell Quantum Solutions and Cambridge Quantum have completed their business combination and have re-emerged as Quantinuum, which aims to be a "full-stack" quantum computing company.
Quantinuum's launch is a precursor to the release of its flagship cyber security product in a few weeks. Quantinuum will feature Ilyas Khan as CEO. Tony Uttley will serve as its President and COO. Honeywell CEO Darius Adamczyk will be chairman of Quantinuum.
The launch of the quantum notable on a few fronts:
Quantinuum's core markets will be cybersecurity, encryption, drug discovery and delivery, material science and natural language processing across industries. Quantum computing has seen an investment boom that was in part driven by the IPO of IonQ. According to Constellation Research, 241 quantum computing related companies have garnered $8.512 billion in investmnet to date. That tally doesn't include investments from giants like Amazon, Google, IBM, Nvidia and Microsoft.
Constellation Research principal Ray Wang said that quantum computing is likely to enter a period of consolidation.
Early investors have seen the potential and the market is entering a period of consolidation to acquire talent, intellectual property, and product offering roadmaps. With over 241 startups in this space, Constellation expects at least a dozen full stack winners to emerge along with five to seven specialists in each category and emerging use case. Security will continue to receive the most funding and attention.
Quantum computing has had a few recent milestones, including:
The company said that it will have a staff of nearly 400 with 300 engineers and scientists. Quantinuum's emerging quantum computing stack includes:
Honeywell owns a majority stake in Quantinuum and will use quantum computing as a proving ground for solving operational problems and technologies. Honeywell said there's no change to its financial outlook due to the transaction.