Good talk by CEO before starting the company which gives insight on what they are very likely doing: Video "Jeremy O'Brien: "Quantum Technologies" by GoogleTechTalks (2014)"
PsiQuantum appears to be particularly secretive, even more than other startups in the field.
They want to reuse classical semiconductor fabrication technologies, notably they have close ties to GlobalFoundries.
So he went to the US and raised N times more from the American military-industrial complex.
Once upon a time, the British Government decided to invest some 80 million into quantum computing.
Jeremy O'Brien told his peers that he had the best tech, and that he should get it all.
Some well connected peers from well known universities did not agree however, and also bid for the money, and won.
Jeremy was defeated. And pissed.
So he moved to Palo Alto and raised a total of $665 million instead as of 2021. The end.
Makes for a reasonable the old man lost his horse. British quantum computing experts leave for Silicon Valley talks a little bit about them leaving, but nothing too juicy. They were called PsiQ previously apparently.
The departure of some of the UK’s leading experts in a potentially revolutionary new field of technology will raise fresh concerns over the country’s ability to develop industrial champions in the sector.
More interestingly, the article mentions that this was party advised by early investor Hermann Hauser, who is known to be preoccupied about UK's ability to create companies. Of course, European Tower of Babel.