Total amount raised
$1.3 Billion
Latest funding date
4/1/2024
Location
PsiQuantum has raised a significant amount of funding over 11 rounds, with the latest being a Series E round involving 15 investors. The company is backed by notable investors such as Temasek Holdings, Type One Ventures, Baillie Gifford, and BlackRock.
PsiQuantum is on a mission to build the world's first useful quantum computer, leveraging photonic qubits and high-volume semiconductor manufacturing for scalability. Keep reading to explore the intricacies of PsiQuantum's fundraising journey and the investors backing this innovative platform.
What Is PsiQuantum?
PsiQuantum, based in Palo Alto, California, is a pioneering company in the quantum computing industry. With a workforce of 501-1000 employees, the company is dedicated to developing a scalable quantum computer using photonic qubits.
Founded with the mission to build the world's first useful quantum computer, PsiQuantum leverages high-volume semiconductor manufacturing to achieve scalability. The company is also planning to establish its first quantum computing sites in Brisbane, Australia, and Chicago, USA.
How Much Funding Has PsiQuantum Raised?
- Series B
- Amount Raised: USD 50,000,000
- Date: September 2017
- Lead Investors: Founders Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate research and development efforts in scalable quantum computing.
- Series C
- Amount Raised: USD 150,000,000
- Date: April 2020
- Lead Investors: Atomico
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and advance photonic qubit technology.
- Series C
- Amount Raised: Not publicly disclosed
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling quantum computing capabilities.
- Series D
- Amount Raised: USD 450,000,000
- Date: July 2021
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and commercialize quantum computing technology.
- Series Unknown
- Amount Raised: AUD 940,000,000
- Date: April 2024
- Lead Investors: Australian Government, Queensland Government
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the construction of a utility-scale quantum computer in Brisbane.
- Grant
- Amount Raised: Not publicly disclosed
- Date: April 2024
- Lead Investors: Australian Government, Queensland Government
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance quantum computing research and infrastructure.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: April 2024
- Lead Investors: Australian Government, Queensland Government
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional funding for quantum computing projects.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: November 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Series Unknown
- Amount Raised: USD 22,000,008
- Date: May 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and technology development.
- Series E
- Amount Raised: USD 1,000,000,000
- Date: September 2025
- Lead Investors: Baillie Gifford, BlackRock, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development and commercialization of quantum computing technology.
Total Amount Raised: USD 1,672,000,008. Current Valuation: Not publicly disclosed.
Key Investors
- Baillie Gifford
- Details: Baillie Gifford is a renowned investment management firm based in Edinburgh, Scotland. It is known for its long-term investment approach and significant stakes in high-growth companies.
- Investment Focus Areas: Technology, healthcare, consumer goods
- Notable Investments: Tesla, Amazon, SpaceX
- BlackRock
- Details: BlackRock is one of the world's largest asset management firms, headquartered in New York City. It offers a range of investment management and advisory services.
- Investment Focus Areas: Equities, fixed income, real estate, alternatives
- Notable Investments: Apple, Microsoft, Alphabet
- Temasek Holdings
- Details: Temasek Holdings is a Singaporean investment company owned by the Government of Singapore. It focuses on sustainable long-term investments.
- Investment Focus Areas: Financial services, telecommunications, media & technology, transportation & industrials, consumer & real estate, life sciences
- Notable Investments: Alibaba, Tencent, Gojek
- Australian Government
- Details: The Australian Government is the federal government of Australia, responsible for national policies and funding.
- Investment Focus Areas: National infrastructure, technology, innovation
- Notable Investments: Investments in national infrastructure projects, technology advancements, innovation initiatives
- Queensland Government
- Details: The Queensland Government is the state government of Queensland, Australia, responsible for state-level policies and funding.
- Investment Focus Areas: State infrastructure, technology, economic development
- Notable Investments: Investments in state infrastructure projects, technology parks, economic development programs
What's Next for PsiQuantum?
With a substantial A$940 million investment from the Australian Commonwealth and Queensland governments, PsiQuantum is poised to build the world's first useful quantum computer in Brisbane. This groundbreaking project aims to solve complex problems across industries such as renewable energy, healthcare, and transportation, potentially igniting the next industrial revolution.
As the project progresses, PsiQuantum is likely to attract further public and private sector funding, given the transformative potential of their technology. However, the company faces significant challenges, including the difficulty of scaling quantum systems and competition from major players like IBM and Google. Despite these hurdles, PsiQuantum's photonics-based approach and strong governmental support position it well for future success.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like PsiQuantum and gather other critical business insights.
Sign up for free to start exploring the wealth of information available at your fingertips and gain a competitive edge in your sales efforts.
