Media Coverage
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Thomas
07.02.24
Marking a significant move into the rapidly evolving field of quantum computing, Pillsbury advised Chevron Technology Ventures (CTV) as an investor in a $100 million Series B funding round for Oxford Quantum Circuits, or OQC.
OQC is a global leader in quantum computing-as-a-service (QCaaS) and aims to offer hybrid computing, integrated quantum and high-performance computing, to the market. As reported by an official press release, the raised funds are expected to drive innovation and efficiency in exploration and renewables, and pioneer enterprise-ready quantum in the energy sector.
“OQC’s development of the quantum computer has the potential to change the information processing landscape by merging the bounds of engineering and physics,” said Jim Gable, Vice President, Innovation and President of Technology Ventures at Chevron. “This is the latest investment from our Core Energy Fund, which focuses on high-tech, high-growth startups and breakthrough technologies that could improve Chevron’s core oil and gas business performance as well as create new opportunities for growth.”
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Corporate partner Nick Burgess and counsel Christian Holbrook represented CTV in the funding round.