Total amount raised
$86M
Latest funding date
2026-02-02
Location
Diraq has successfully navigated four funding rounds, attracting the support of 14 investors, including NewSouth Innovations and Main Sequence Ventures. The latest funding round, a "Venture - Series Unknown," saw participation from seven investors, with ICM HPQC leading the round.
What Is Diraq?
Diraq is a private company based in Sydney, New South Wales, Australia, specializing in quantum computing. The company operates within the industries of computer hardware, quantum computing, semiconductors, and software. With a growing team, Diraq aims to redefine scalable quantum computing and bring practical commercial applications to the world.
Founded with a vision to integrate millions of qubits on a single silicon chip, Diraq leverages modified silicon transistors to build economical, scalable, and powerful quantum computers. The company has a strong academic and patent portfolio, with numerous publications in high-impact journals and over 60 patents filed.
How Much Funding Has Diraq Raised?
- Series A
- Amount Raised: USD 20,000,000
- Date: May 2022
- Lead Investors: Allectus Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and scaling of Diraq's quantum computing technology at spin-out from UNSW Sydney.
- Series A-2
- Amount Raised: USD 15,000,000
- Date: February 12, 2024
- Lead Investors: Quantonation
- Other Participants: John Higgins Family Investments, UNSW Sydney
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance R&D initiatives, expand the team in Australia, launch operations in the US, and strengthen international partnerships.
- Series A-2 Extension
- Amount Raised: USD 22,000,000 (AUD ~$33 million)
- Date: June 2024
- Lead Investors: Quantonation
- Other Participants: Main Sequence Ventures, Taronga Ventures, Uniseed, UniSuper, Co:Act Capital, UNSW Sydney
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop quantum computing technology and expand market reach internationally.
- Series A (New Round, First Close)
- Amount Raised: USD 15,000,000
- Date: July 2025
- Lead Investors: Undisclosed (no single named lead)
- Other Participants: ICM Global Funds (Singapore), Morgan Creek Digital (US), Main Sequence, Uniseed, NewSouth Innovations, Quantonation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive international expansion and support qubit development toward energy-efficient processors.
- Series A (NRFC Equity Investment)
- Amount Raised: AUD 20,000,000 (~USD 14,000,000)
- Date: February 2, 2026
- Lead Investors: National Reconstruction Fund Corporation (NRFC)
- Other Participants: Hostplus, NGS Super (amounts undisclosed)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To anchor advanced manufacturing in Australia and accelerate Diraq's commercial path to market, targeting first quantum product by 2029.
Total Amount Raised: At least USD 86,000,000 based on disclosed private funding rounds. Current Valuation: Not publicly disclosed.
Key Investors
- National Reconstruction Fund Corporation (NRFC)
- Details: NRFC is an Australian government-backed investment body that made a AUD $20 million (~USD $14M) strategic equity investment in Diraq in February 2026, anchoring domestic advanced manufacturing.
- Investment Focus Areas: Advanced manufacturing, deep tech, national infrastructure.
- Notable Investments: Diraq.
- Quantonation
- Details: Quantonation is a Paris-based venture capital fund dedicated to quantum technologies. They led Diraq's Series A-2 round in February 2024 and the Series A-2 extension in June 2024.
- Investment Focus Areas: Quantum technologies, advanced computing, physics.
- Notable Investments: Various quantum technology startups worldwide.
- Allectus Capital
- Details: Allectus Capital led Diraq's inaugural Series A in May 2022, providing significant early-stage support at spin-out from UNSW.
- Investment Focus Areas: Deep tech, technology, innovation.
- Notable Investments: Various technology startups.
- Main Sequence Ventures
- Details: Main Sequence Ventures is a CSIRO-backed deep tech fund that participated in Diraq's June 2024 Series A-2 extension and the July 2025 round.
- Investment Focus Areas: Deep tech, quantum computing, biotechnology.
- Notable Investments: Diraq and various Australian deep tech companies.
- ICM Global Funds
- Details: Singapore-based ICM Global Funds joined Diraq's July 2025 round as a new international investor, contributing USD $4.6 million of the $15M raise.
- Investment Focus Areas: Quantum computing, semiconductors, advanced technologies.
- Notable Investments: Diraq.
- University of New South Wales (UNSW), Sydney
- Details: UNSW Sydney is a foundation shareholder and research partner of Diraq, having participated in the Series A-2 rounds. Uniseed, the UNSW commercialisation fund, has also participated across multiple rounds.
- Investment Focus Areas: Research, education, advanced technologies.
- Notable Investments: Various research and academic spinout projects.
What's Next for Diraq?
Diraq is poised to capitalize on significant opportunities in the quantum computing industry. With recent funding, the company plans to expand its team in Australia, launch operations in the U.S., and leverage international partnerships. The focus on developing energy-efficient processors with billions of qubits on a single chip through standard semiconductor foundries positions Diraq at the forefront of technological innovation.
Future fundraising opportunities appear promising as Diraq continues to advance its technology and scale operations. The company has already secured substantial funding, and ongoing R&D initiatives suggest that additional investment rounds may be on the horizon. Strategic partnerships and acquisitions could further bolster Diraq's market presence and technological capabilities.
However, Diraq faces several challenges, including technical hurdles in developing scalable and fault-tolerant quantum systems, competition from other global players, and the integration of quantum technology with existing semiconductor processes. Overcoming these obstacles will be crucial for Diraq to maintain its competitive edge and achieve commercial success.
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