You are here: Home › Mitsui's Quantum Leap to infuse $50 million in U.S. quantum computing company

Mitsui's Quantum Leap to infuse $50 million in U.S. quantum computing company

By Sneha Choudhary
-    Feb 27, 2024
Credit : GMI Post

Japanese conglomerate Mitsui & Co., Ltd. (Mitsui) recently invested $50 million in Colorado-based quantum computing company, Quantinuum, as part of the latter’s $300 million equity fundraising endeavor, led by JPMorgan Chase and Honeywell, Quantinuum’s majority shareholder.

The strategic investment, announced in January 2024, is expected to catalyze Quantinuum’s objective of pioneering the world’s first fault-tolerant quantum computer while diversifying its suite of leading quantum software offerings.

Mitsui & Co. Representative Director, Executive Vice President, and Chief Digital Information Officer Yoshio Kometani (left) and Quantinuum Chief Operation Officer Tony Uttley (right)

The investment comes after the recent G7 summit held in Hiroshima, Japan, where both Japanese Prime Minister Fumio Kishida and U.S. President Joe Biden reaffirmed their commitment to close cooperation in the areas of quantum technology and artificial intelligence.

“We are deepening our cooperation on emerging technologies, including new partnerships between the United States and Japanese companies in areas like quantum computing,” President Biden told summit participants, according to the Japan Times.

In a joint press release with Mitsui, Quantinuum CEO Rajeeb Hazra expressed his eagerness in the venture: “The confidence in our business demonstrated through this investment by our longstanding strategic partners and industry leaders is a clear indication of the value we will continue to create.”

Beyond the investment, the partnership between Mitsui and Quantinuum extends to a distribution agreement that will facilitate the U.S. company’s entry into the Japanese and broader Asia-Pacific markets.

Leveraging Mitsui’s experience across diverse global industries, the collaboration aims to market Quantinuum’s knowledge, know-how, and solutions to advanced users already harnessing the power of quantum computing. Initial offerings will focus on the quantum cybersecurity domain.

By integrating Mitsui’s experience in a wide range of global industries and Quantinuum’s advanced quantum computing technology, both entities are poised to accelerate the development of quantum computing use cases, create innovative business models, and augment existing customer offerings.


How big is the quantum computing industry?

Boston Consulting Group projects that the quantum computing industry will become a $450-$850 billion industry by the end of 2035 and will grow in sectors such as healthcare, financial services, cybersecurity, material development, and logistics.

 

Business opportunities in Latin America for Japanese companies

Thanks to Texas' proximity to the emerging markets of Central and South America, several major Japanese companies with significant investments in L...

The Evolving Military Balance in the Taiwan Strait

Panelists discuss the risk of an armed conflict between the United States and China over Taiwan and how the United States should adapt its defense ...

Young Professionals Briefing: The Future of Democracy Around the World

Panelists discuss democratic backsliding, the rights of marginalized populations living under authoritarian regimes, and the prospects for and obst...

TWSE: Cultivating Growth

When gauging a country's economic prospects, analysts first study the historical performance of its financial market and activity that characterize...

Philippines' top EdTech startup secures Series A funding as it boosts reach and engagement

Edukasyon, the leading education technology platform in the Philippines, recently closed its Series A financing round, joined by Asian and European...

Japanese carmakers: A vital part of the U.S. economy

Over nearly four decades, Japanese-brand automakers have built up a vast American presence. It has made a cumulative manufacturing investment of ab...

Casino slot manufacturer attributes success to hard work, vision, and dedication to core values

Japanese gaming giant Konami has invested heavily in Las Vegas, setting up a huge head office in the city from where it develops and markets indust...

Reaffirming a commitment to create equal opportunity

Tracing its origins back more than a century, LHAG has nurtured a reputation for excellence and expertise in dispute resolution, international arbi...

Malaysia: A fresh start

Ten months since historic elections that rocked the nation's political landscape, Malaysia, once again headed by Prime Minister Mahathir Mohamad, i...

latest special Reports:

More Special Reports: more...

Upcoming Reports from




  • Global Media is your partner in reaching a powerful international audience through high-level economic reporting.

    Our ambition is to highlight under-reported developments and opportunities around the world, and allow leaders in these regions and sectors to take their message to the highest global level. We partner with top media to communicate with the world’s most powerful audiences. We specialize in communication and branding initiatives that help our clients effectively get their messages to their existing and potential partners. We achieve results for our clients by introducing them and their initiatives to an audience of elite international business and government leaders.

    Global Media Inc. is an independent media agency with offices in Hong Kong and Canada. GMI has more than a decade of experience in the writing, researching, and production of promotional country reports, with media partners from East Asia to North America. We have teams worldwide that develop country and thematic reports on the latest economic trends and developments.

    We are a media partner of Foreign Affairs,the United States’ most influential publication, published by the New York-based Council on Foreign Relations.

    Nearly a century old, there isn’t a more influential or higher-reaching publication in the United States than Foreign Affairs. The journal is ranked #1 in influence by U.S. opinion leaders in a recent nationwide study conducted by Erdos and Morgan, the premier business-to-business research firm. Their findings place Foreign Affairs ahead of all media, both print and broadcast, including The New York Times, The Wall Street Journal, The Economist, and The Washington Post.

    Testimonials:

    “We were extremely impressed with how efficient, well-coordinated, responsive and reliable the Global Media Inc. team was. We owe them a lot for their professionalism. We were very pleased with the outcome, and the article was very well-written. We hope to have an opportunity to work with Global Media Inc. again in the near future.� – Japan Airport Terminal Co. Ltd.
    “The Global Media team’s professionalism was excellent. Their team was great and always gave us the right suggestions and information. The product was excellent, and we were very happy to have such a great opportunity working with their excellent team.â€� – National Graduate Institute of Policy Studies (GRIPS)
    “We were honored to be chosen as one of the good universities in Japan. This article conveyed Seigakuin University’s educational ideals and the message from President Akudo. The advertisement was conspicuous and gave a good impression that Seigakuin nurtured students to contribute to world peace. We really appreciated what Global Media Inc. had did for us.â€� – Seigakuin University

    Whom we have featured:

    • Australian Prime Minister Julia Gillard
    • Australian Foreign Affairs Minister (and former Prime Minister) Kevin Rudd
    • Japanese Prime Minister Shinzo Abe
    • Qatari Minister of International Trade and Industry Dato’ Sri Mustapa bin Mohamed
    • Japanese Minister of Education, Culture, Sports, Science and Technology Yoshiaki Takaki
    • Taiwanese Foreign Minister Yang Chin-Tien
    • Taiwanese Finance Minister Lee Sush-Der
    • Taiwanese Economic Affairs Minister Shih Yen-Shiang
    • Taiwanese National Science Council Minister Lee Lou-Chuang,
    • Taiwanese Deputy Minister of Transport and Communications Yeh Kuang-Shih
    • Taiwanese Political Deputy Minister of Education Dr. Lin Tsong-Ming
    • Indonesian Ambassador to the United States Dr. Dino Patti Djalal
    • Indonesian Investment Coordinating Board Chairman Gita Wirjawan
    • Philippine President Benigno S. Aquino III
    • Philippine Senate President Juan Ponce Enrile

Join our newsletter

Sign up for our weekly newsletter to get the latest news and updates directly to your inbox.