PsiQuantum is looking to raise US$750 million in next round
PsiQuantum Corp. (Palo Alto, Calif.) is trying to raise US$750 million in a round of equity funding led by BlackRock.
The funding round is not yet completed and is being conducted at a pre-money company valuation of US$6 billion, according to Reuters.
PsiQuantum is one of the pioneers of quantum computing having been founded by Professor Jeremy O’Brien, CEO, in 2015. It has raised more than US$600 million across four primary funding rounds and is now looking to more than double its funding as it could still be four years – 2029 – before it has a useful machine.
In 2021, PsiQuantum raised US$450m investment in a Series D funding round led by funds and accounts managed by BlackRock to support team expansion and the development of a one million qubit machine.
Quantum computing pioneer raises $450 million
PsiQuantum is using photonic technology to develop quantum computing systems and is working with conventional silicon photonic chip manufacturing through a deal with GlobalFoundries.
PsiQuantum has signed major contracts with the governments in Australia and the US to build two quantum supercomputers.
Related links and articles:
News articles:
PsiQuantum raises US$600 million for first hyperscale quantum computer
GlobalFoundries deal to help PsiQuantum get to one million qubits
PsiQuantum opens first UK research lab
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