Contactless EMV payments are increasingly being adopted across public transport networks as operators look to simplify ticketing and improve passenger convenience. By allowing travellers to use their contactless bank cards or mobile wallets directly at the gate, open-loop systems can reduce reliance on proprietary ticketing infrastructure while supporting more flexible fare structures. A recent example is the rollout of contactless “tap and go” payments across the Merseyrail

A new regional rail ticketing system is being deployed across France’s Nouvelle-Aquitaine region, bringing simpler, more flexible travel for passengers. Delivered by Kuba for Nouvelle-Aquitaine Mobilités, the platform introduces account-based ticketing and contactless payments to help create a seamless, interoperable experience across regional transport networks. Read the full announcement here .

Miki Szikszai, CEO of Snapper Services A new interactive benchmarking tool is enabling cities and transport authorities to compare public transit performance globally in near real time. The Cities Today article reports the Mosaiq Global Public Transit Index uses open data from more than 1,000 locations to analyse reliability and on-time performance, allowing operators to benchmark networks, identify operational improvements and track how their systems perform against global p

The early momentum in U.S. equities has paused. Year to date, American indices have drifted sideways while Europe, Asia and emerging markets have outperformed. After several years of U.S. leadership, international diversification is regaining attention. In this month’s review, we examine: the compression in the S&P 500 forward earnings multiple; sector rotation driven by valuation re-pricing; investor reassessment of AI substitution risk, particularly in software and wealth m

Vix Technology has been named a double finalist at the 2026 Transport Ticketing Awards , recognising its continued innovation in smart ticketing and fare collection systems. The nominations highlight Vix’s work in delivering advanced, passenger-focused ticketing solutions that help transport operators create simpler, more seamless travel experiences. Read the full announcement here .

ICM HPQC News Flash – February 2026  highlights recent developments across the fund’s portfolio and broader high-performance and quantum computing ecosystem. The update covers key portfolio milestones, technology progress and industry trends shaping the next generation of advanced computing infrastructure. Highlights at a glance Portfolio progress:  Updates from companies across the HPQC ecosystem, including developments from Q-CTRL, Diraq, Salience Labs and Mixx Technologies

Salience Lab’s innovative architecture builds on Tower’s differentiated silicon photonics platforms to enable ultra-low latency, high-bandwidth, and energy-efficient optical connectivity tailored for AI cluster environments. Read the full update here .

Drawing on insights from the Mosaiq Global Public Transit Index , this article explores what the world’s best-performing public transport networks have in common. From punctuality standards to the role of high-quality data, it highlights how better benchmarking and transparency can help cities improve reliability and passenger experience. Read the full update here .

The National Reconstruction Fund Corporation (NRFC) is taking a $20 million equity stake in Diraq, a Sydney-based quantum technology startup that is a global leader in the development of utility-scale quantum computing.  Quantum computers are exponentially faster than classical computers and can perform calculations that would take the world’s current, most advanced supercomputers millions of years to process, allowing them to solve valuable and world-changing problems, such

Q-CTRL has unveiled the first commercially ready quantum navigation system proven in real-world conditions. The system uses quantum sensing and magnetic field mapping to deliver precise positioning without relying on GPS, providing a resilient alternative in environments where signals are jammed, spoofed, or unavailable. The technology will be showcased at the Singapore Airshow. Read the full announcement here .

Breakthrough technologies are often born in laboratories and research centres, but far fewer ever translate into durable commercial success. The gap between technical promise and real-world value creation remains one of the most persistent challenges in technology investing. While innovation is frequently equated with novelty or scientific advancement, commercial innovation requires something more: a clear customer need, a viable route to adoption, and an ecosystem capable of

January 2026 opens against a backdrop of resilient markets, persistent geopolitical noise and powerful structural forces shaping the global economy. Equity markets have extended last year’s momentum, commodities have rallied sharply, and enthusiasm around AI-driven investment and productivity continues to build. While headlines remain dominated by politics, tariffs and fiscal concerns, market behaviour suggests investors are increasingly focused on fundamentals: earnings grow

Transport for Greater Manchester (TfGM) is rolling out 320 new Real-Time Passenger Information (RTPI) displays, supplied and managed by Vix Technology. Read the full announcement here .

As 2025 comes to a close, it’s a good opportunity to reflect on the year. For Mosaiq, it’s been about building on previous progress, helping authorities make smarter decisions, and continuing to shape public transit through meaningful insights. Over the year, the platform processed hundreds of millions of scheduled trips and tens of billions of heartbeat records – a scale of data that underpins smarter decisions for transit authorities and operators worldwide. Read the full a

The Kingdom of Morocco has chosen Kuba to deploy a unified ticketing system across several major cities in the country, in partnership with the Ministry of the Interior. This strategic project marks a key milestone in the modernisation of Moroccan mobility networks ahead of the 2025 Africa Cup of Nations (AFCON 2025) and the 2030 FIFA World Cup.  The first deployment phase has been completed in just under three months to be fully operational for AFCON 2025. Its objective is t

As we reach the close of 2025, this edition of the ICM Monthly Outlook reflects on a year defined by strong equity market returns, accelerating AI adoption and periodic bouts of volatility that tested investor conviction. From record highs in U.S. equities and a powerful AI-driven rally, to currency shifts, softer oil prices and changing central bank priorities, the past twelve months have reinforced familiar investment lessons while introducing new dynamics that will shape t

We are pleased to see ICM HPQC Fund's portfolio companies Diraq and Q-Ctrl recognised in this latest announcement by the International Year of Quantum Science and Technology  (IYQ), a United Nations-declared year, launching the Quantum 100:  “Dedicated, Inspiring, and Supportive”; UNESCO 2025 International Year of Quantum Science and Technology Announces Quantum 100 to Celebrate Global Community - IYQ 2025 Congratulations to Professor Andrew Dzurak of Diraq and Michael Biercu

Vix Technology announced a new phase of its ongoing partnership with Great Western Railway (GWR), which enables the expansion of P ay-as-you-Go ITSO smart card payments across the whole of Cornwall and into Plymouth.  More than a hundred of Vix’s new-generation platform validators are now live across stations between Penzance and Plymouth. They connect to Vix’s secure, cloud-based system for configuration, monitoring, and analytics, while also interfacing with the network’s t

Greater Wellington will introduce contactless open-loop payments across buses and rail from April 2026 without waiting for national change. Working with Snapper Services and Littlepay, the region will enable passengers to pay using contactless bank cards and digital wallets alongside existing Snapper cards. The approach is deliberately incremental. Instead of waiting for a delayed national programme, Greater Wellington Regional Council is enabling passengers to use contactles

Mixx Technologies, part of ICM HPQC Fund's portfolio and a pioneer in silicon-integrated optical connectivity for AI infrastructure, announced the appointment of Boon Chye (BC) Ooi to its Board of Directors. A seasoned semiconductor executive with over 30 years of operational leadership, Ooi brings a wealth of expertise in scaling global supply chains and high-volume manufacturing to Mixx as the company accelerates the deployment of its HBxIO™ platform. Read the full announce