$1B of New Capital to Build the World's First Useful Quantum Computer

TLDR

• PsiQuantum closes a $1B Series E at a $7B valuation, the largest funding round ever for a quantum computing company.

Key Takeaways

• The round was led with participation from BlackRock, Nvidia, and the governments of Australia and Illinois.
• PsiQuantum’s approach centers on photonic, error-corrected quantum computing built on existing semiconductor manufacturing processes.
• The company requires millions of qubits for useful computation and chose photonics over small noisy qubit systems to stay on a scalable path.
• Founded by four UK academics including Terry Rudolph, grandson of Erwin Schrödinger, the team drafted a detailed plan from vision to production that still guides the company.
• PsiQuantum has a growing research facility in Daresbury, UK, with Atomico as a board member since the Series C.

Why It Matters

• Error-corrected quantum computing at scale could solve optimization and simulation problems entirely out of reach for classical computers, including drug discovery, battery technology, and carbon capture.
• The round demonstrates that both private capital and sovereign governments are now co-investing in quantum infrastructure as a strategic technology bet.

Atomico · 2025-09-18 · Read the original