<div id="readability-page-1"><div><div><p>US funds are attempting to persuade one of Britain’s most promising quantum computing start-ups to pursue a listing on the New York Stock Exchange.</p><p>Universal Quantum, a Brighton-based start-up founded by experts from the University of Sussex, has been approached by “Spac” companies about a transatlantic deal.</p><p>Spacs – special purpose acquisition companies – are “blank cheque” vehicles formed through a public listing with the sole purpose of acquiring or merging with an existing private company.</p><p>They have become a popular route for technology businesses to go public in recent years, with some Spacs increasingly targeting European quantum start-ups.</p><p>Since its launch in 2017, Universal Quantum has emerged as one of the UK’s most promising quantum start-ups.</p><p>Quantum machines could allow more advanced calculations than traditional computers. They rely on taking advantage of quantum physics to perform functions that would take a normal computer years.</p><p>Sources said the UK start-up has been in talks to raise as much as $100m (£75m) from investors, including leading Silicon Valley funds.</p><p>This would allow the company to advance its technology by allowing multiple quantum chips to link together.</p><p>However, it has also received approaches from multiple Spac shell companies that want it to consider a listing in New York.</p><p>The start-up has so far resisted any offers, as its leadership is keen to keep the business independent and based in the UK.</p></div></div><div><div><p>Brighton-based Universal Quantum was founded by Sebastian Weidt and Professor Winfried Hensinger, both experts from the University of Sussex.</p><p>In March, Chancellor Rachel Reeves announced plans to invest £2bn in UK quantum computing technology, in which Britain is seen as having a key advantage, by the end of 2030.</p><p>The US government is also backing the cutting-edge technology with taxpayer funds as it seeks to compete with China.</p><p>Last week, US quantum stocks surged after the White House promised $2bn in grants to help businesses pursue the technology.</p><p>Shares in IBM, the US computing giant, climbed 19pc after the White House announced it would take a minority stake in the business.</p><p>Shares in Rigetti, a quantum computing firm that also secured a share of the funding, jumped 55pc.</p><p>IonQ, a US quantum company that acquired British start-up Oxford Ionics last year, was up 20pc over the week.</p><p>Universal Quantum declined to comment.</p></div></div></div>

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<p>US funds are trying to attract British quantum start-up Universal Quantum to list on the New York Stock Exchange. The Brighton-based company, founded by experts from the University of Sussex, has been approached by SPACs for a potential merger. Universal Quantum aims to raise $100m to advance its technology but prefers to remain independent in the UK. The US government is also investing in quantum technology, with recent funding announcements boosting US quantum stocks significantly.</p>

US funds seek to lure British quantum pioneer to New York