Scottish quantum hardware company raises £2.5m to build UK's sovereign manufacturing capability
· Glasgow-based Quantcore has secured £2.5m seed investment from PXN Ventures, Blackfinch Ventures, Scottish Enterprise, Quantum Exponential and STAC to advance sovereign quantum capabilities
· Quantcore is also the only UK company producing quantum hardware using niobium, providing components that operate at temperatures colder than outer space.
Quantcore, a University of Glasgow spin-out, has raised £2.5m in seed funding to create a sovereign supply chain for quantum hardware, as the UK races to build domestic capacity in technologies critical to national security and economic competitiveness. The round was co-led by PXN Ventures, Blackfinch Ventures and Scottish Enterprise, with investment also coming from Quantum Exponential and STAC.
Quantcore is the only company in the UK manufacturing niobium-based components. One benefit of niobium is it can operate at higher temperatures than aluminium, which is one of the most common materials used by Quantcore’s global competitors.
Thanks to the use of niobium, Quantcore is helping its customers, which include UK national laboratories, to save energy and do more with its quantum components at a more scalable rate.
Operating from the University of Glasgow's James Watt Nanofabrication Centre, the company designs, manufactures and tests the superconducting processors, resonators and sensors that form the core of quantum computers and advanced sensing systems.
Beyond computing applications, Quantcore's quantum sensors enable secure communications and unprecedented accuracy in medical imaging that classical technology cannot achieve, which could lead to breakthroughs in areas such as neuroscience, early disease detection, secure infrastructure, and fundamental physics.
Following the investment, Quantcore plans to grow its team from four to 12 employees over the next 18 months, with engineering roles across design, manufacturing and cryogenic testing as well as non-technical positions to aid its commercial strategy.
Dr Jack Brennan, CEO and co-founder of Quantcore, said: "This technology is extremely powerful. One of the main features of quantum computers is that they will be really good at cracking codes. So, as a country, you have to ask: do you want to wait until other countries have this capability, or do you want to get there first?
"The world is not what it was. If you want this technology, which you do, you need to be able to manufacture it domestically so you can control every part of it. That's what we're building from Scotland.
"Classical computers are hitting a plateau as silicon reaches its limits. We're entering a new paradigm based on fundamental physics, and it's coming whether we like it or not. There's no reason all the advanced tech in the UK has to be in London, Cambridge, and Oxford. Why not build it here?"
Derek Shaw, Director of Entrepreneurship & Investment Scottish Enterprise, said: “This investment highlights our dedication to supporting the growth of ambitious businesses in Scotland. By helping these companies scale, we aim to create high-quality, high-value jobs and empower them to compete and lead in global markets. Scotland has distinct global strengths in industries such as quantum computing and fostering the development of companies such as Quantcore Technologies Ltd is key to sustaining their success and driving future growth.”
The investment comes at a time of geopolitical uncertainty and follows the UK government’s pledge to invest £670m into quantum computing as part of its 10-year modern industrial strategy, with the global quantum computing market projected to reach $20.2 billion by 2030.
Quantcore was founded by Dr Jack Brennan, Dr Valentino Seferai, Wridhdhisom Karar, and Prof Martin Weides, and spun out from the University of Glasgow in August 2025. The company was also part the first cohort of deep tech startups to take part in the university’s Infinity G accelerator programme, led by STAC.
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Notes to editors
About PXN Ventures
PXN Ventures is the venture capital arm of PXN Group, formed as a result of two of the North’s best fund managers (Praetura Ventures and Par Equity) coming together to create an investor that the region deserves. With offices in Manchester, Edinburgh, Leeds and London, we deliver world-class investment programmes at scale to help build the Northern economy, supporting founders across a diverse range of sectors, including deep tech, life sciences and software.
PXN Ventures is committed to backing early-stage founders across the North of the UK, with a long and growing list of northern success stories in our portfolio that have received early backing from PXN, including Modern Milkman, Phlo, AccessPay, Street Group and Advanced Electric Machines. As well as its EIS, VCT and institutional funds, including the GMC Life Sciences Fund II, PXN Ventures is the North West fund manager for the Northern Powerhouse Investment Fund II, which is managed on behalf of the British Business Bank.
About Scottish Enterprise
Scottish Enterprise (SE) is Scotland’s national economic development agency and a non-departmental public body of the Scottish Government. It supports businesses to
innovate and scale to transform the Scottish economy by focusing on new market opportunities through targeted investment, innovation and internationalisation. Follow us on X (formerly Twitter) and LinkedIn.
About Blackfinch Group
Blackfinch Group is an award-winning investment specialist and trusted provider. Employing more than 150 full-time members of staff, it has a heritage dating back 30 years. The group provides tax-efficient investment solutions, managed portfolio services, early-stage investing, property financing and energy infrastructure investing. Inspired by the work of Charles Darwin and founded on evolutionary principles, Blackfinch adapts to and evolves with customer requirements, helping others to thrive.
About Blackfinch Ventures
Blackfinch Ventures invests in innovation. It targets high-growth opportunities, supporting and early-stage businesses with technological potential. The focus is on disruptive businesses, offering products that address real world needs, with the capability to make an impact in global markets. About the University of Glasgow
Founded in 1451 and the fourth-oldest university in the English-speaking world, the University of Glasgow is recognised internationally for its ground-breaking research and world-class teaching.
In 2024, the University’s top six spin-outs raised investment of more than £60 million, creating 250 jobs across a range of commercial and spin-out activity, and awarded more than £600,000 to 23 projects with commercial or spin-out potential as part of major funding drives in Medtech and the Arts and Humanities.
The University is also working with its partners Scottish Enterprise and Glasgow City Council to deliver jobs, training opportunities and economic growth through Glasgow Riverside Innovation District.
About STAC
STAC (Smart Things Accelerator Centre) is Scotland's first industry-led technology accelerator, dedicated to nurturing Scottish technology startups in IoT, drones, robotics, quantum computing, photonics and smart devices to become globally competitive companies. Founded in 2021 and headquartered at Skypark in Glasgow, STAC operates through four main pillars: STAC Scale (18-month mentorship programme), STAC Jobs (talent platform), STAC Invest (investment arm), and thebeyond (physical campus).
About Quantum Exponential Quantum Exponential Group plc (Quantum Exponential) is a specialist investment firm dedicated to establishing a global lead in quantum technology portfolio management. The company identifies and supports high-potential pioneers across the full innovation lifecycle—from pre-seed to commercialisation—focusing on sectors such as finance, healthcare, defence and global resilience.
Building on a track record of managing a dedicated quantum portfolio, Quantum Exponential is currently fundraising for a £100 million venture capital fund to strengthen the UK's global leadership and support the National Quantum Strategy. Through strategic partnerships with the Harwell Quantum Cluster and other key national and international organisations, QEG leverages unparalleled market access to nurture groundbreaking advances in quantum computing, sensing, and cryptography