Startup · $4b raised
Brisbane, QLD
Every investor coverage indicates participated in a round PsiQuantum raised.
| Investor | Rounds | Invested |
|---|---|---|
| Australian Government | Grant · Grant | $470,000,000 |
| Queensland Government | Grant · Grant | $470,000,000 |
| the federal government | Grant | $470,000,000 |
| DARPA | Grant | - |
| BlackRock | Series D+ · Series D+ | - |
| Macquarie Capital | Series D+ | - |
| Nvidia | Series D+ | - |
| Temasek | Series D+ · Series D+ | - |
| City of Chicago | Grant | - |
| Illinois Government | Grant | - |
| Export Finance Australia | Grant | - |
| Federal Government | Grant | - |
| Qld government | Grant | - |
| Baillie Gifford | Series D+ | - |
| Blackbird Ventures | Series D+ | - |
| M12 | Series D+ | - |
Companies PsiQuantum acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
Stories naming PsiQuantum. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Sydney quantum startup Diraq has received an initial US$51 million from DARPA after reaching the final stage of its quantum benchmarking program, with more funding possible; the National Reconstruction Fund earlier invested $20m.
Also Forbes Australia·Forbes Australia·This Week in Australian Startups
Sydney quantum company Diraq has reached the last stage of a US defence quantum program, securing US$51 million with more possible, alongside mentions of PsiQuantum, IonQ and Quantinuum milestones.
Also Forbes Australia
Weekly roundup reporting Australian startup funding rounds and government grants, a venture fund close, agreed acquisitions, an IPO pricing, a collapse, plus executive hires and AI policy developments.
Blackbird has locked in a second billion-dollar fund — its sixth, slightly bigger than the last — bringing in new institutional backers, and the article recalls portfolio wins, writedowns and failures.
Allens' Cyber Brief podcast hosts QuintessenceLabs founder and CEO Vikram Sharma discussing quantum computing threats to encryption, harvest-now-decrypt-later attacks, and the governance steps boards should take toward post-quantum readiness.
The National Reconstruction Fund has put another $40m into Sydney quantum chip maker Silicon Quantum Computing, following its $20m investment three months earlier, part of a larger round still underway.
Quantum chip venture Diraq has struck a US$38m deal with America's Commerce Department to build out its supply chain there, much of it becoming equity; Australia's NRF backed it with $20m in February.
PsiQuantum has relocated its $940m government-backed quantum computing project to Moreton Bay after dropping the Brisbane Airport site, with groundbreaking set for June following timeline slippage flagged in Senate Estimates.
The National Reconstruction Fund has put $20 million into Sydney quantum chip maker Silicon Quantum Computing via a SAFE note, following its smaller-than-planned 2023 Series A and a similar NRF bet on Diraq.
The National Reconstruction Fund has invested $20 million in Sydney quantum startup Diraq, an equity stake the government fund says will aid domestic production and hiring ahead of a planned 2029 product launch.
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A quarterly report on the Australian venture market finds Q3 2025 investment passed a billion dollars, led by a Singapore data centre company's raise, with AI drawing premium valuations and bubble warnings.
Cut Through Venture's analysis of Queensland's FY2025 ecosystem: $417 million over 109 deals, climate tech and enterprise software leading, plus standout rounds from EatClub, EcoJoule Energy, FairSupply and WearOptimo.
SmartCompany covers Cut Through Venture's report on Queensland's 2024-25 venture funding, which rebounded to $417 million, led by SafetyCulture's Series E, with SaaS and climate tech the standout sectors.
Quantum computing venture Diraq has banked $15 million toward an unfinished round, with earlier backers joined by two new funds, pushing its cumulative funding beyond US$137 million.
Nine-month-old Sydney quantum startup Iceberg Quantum raised $2 million pre-seed, led by Blackbird with LocalGlobe participating, to build cheaper fault-tolerant designs for PsiQuantum's photonic platform.
Year-end roundup ranking 2024's twelve largest startup raises, headed by PsiQuantum's $940 million government-backed quantum computing round, plus Guzman y Gomez's ASX listing and Betashares' Temasek investment.
Quantum Brilliance, a Canberra-based maker of diamond-based quantum chips, has drawn fresh equity from the National Reconstruction Fund and more from Breakthrough Victoria to build a diamond foundry, with prior grants and backers recapped.
Industry minister Ed Husic told a Tech Council summit the National Reconstruction Fund is close to its first investments after asking for a $300m drawdown; the piece recaps federal tech funding moves including PsiQuantum's.
Quarterly tally finds ANZ startups raised far less than the prior period, with Hammertech's raise the largest, SafetyCulture pairing capital with a stake sale, AI firms prominent, and women founders still drawing little backing.
PsiQuantum will build a second quantum computer in Chicago with US$500m in tax incentives, after Australian and Queensland government equity in April. Forbes Australia's 30 Under 30 nominations are open.
Also Startup Daily
AuManufacturing roundup of brief industry news: Wide Open Agriculture banks a $7.5 million raise, Liontown adds a lithium offtake partner, Osteopore signs Zimmer Biomet for distribution, plus quantum, defence, rail and recycling items.
Weekly roundup of eight Australian funding rounds, led by Samsara Eco's $100m Series A extension; Diraq, 1Breadcrumb, Aquila, NRN, Klean, Bearhug and Sindy Labs also secured capital, and Klean won a Queensland grant.
Also TechCrunch Venture·SmartCompany·@AuManufacturing·Techboard·Startup Daily·Startup Daily·SmartCompany·Startup Daily·SmartCompany·Startup Daily·@AuManufacturing·@AuManufacturing·Forbes Australia·@AuManufacturing
Crunchbase's analysis finds venture funding for chip startups rebounding in 2024 on AI demand, recapping large recent deals at Black Semiconductor, Tenstorrent, PsiQuantum, Celestial AI, Recogni and Eliyan, plus Astera Labs' IPO.
Also Crunchbase News
Quantum computing startup Diraq announced record qubit control fidelity and chip-making partnerships with GlobalFoundries and IMEC; the piece also recounts its Quantonation-led Series A, early Allectus backing, and PsiQuantum's government funding.
Also Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily
Budget-day rundown for Australian startups: a quantum computing co-investment, a green manufacturing fund, AI centre money, offshore landing pads and small business measures, while most sector wishlists went unmet.
The Australian federal and Queensland governments are investing $940m in PsiQuantum, which will open a Brisbane regional headquarters; $18.4m will fund a national quantum centre at the University of Sydney.
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The federal and Queensland governments say they will put nearly a billion dollars into PsiQuantum for a fault-tolerant quantum computer in Brisbane, anchoring the company's regional headquarters and creating 400 roles.
Blackbird interviews Remedy Robotics co-founder Dave Bell about his move from medicine to surgical robotics and his mentoring in its Foundry program, noting Foundry applications are open.
Diamond-based quantum computing startup Quantum Brilliance has raised $13.4 million in seed capital co-led by Main Sequence and QxBranch's founders, aiming to shrink quantum accelerators to lunchbox size and grow staff past 100.
Also Startup Daily·@AuManufacturing·SmartCompany·Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily·SmartCompany·SmartCompany·SmartCompany·@AuManufacturing·Forbes Australia
Blackbird Ventures announces it joined PsiQuantum's USD450 million Series D round, and sets out why the startup's silicon photonics approach can scale to a useful quantum computer.
Also SmartCompany·SmartCompany·SmartCompany·Startup Daily·Startup Daily·Forbes Australia