PsiQuantum Will Build Commercial Quantum Computer Development

PsiQuantum has raised $450 million in Series D funding to build the world’s first commercially viable quantum computer, the company said. The company intends to build a fault-tolerant quantum computer supported by a scalable and proven manufacturing process. The company’s technology manipulates single photons using circuits that are patterned onto a silicon chip using standard semiconductor manufacturing processes. The company is manufacturing quantum photonic chips, as well as cryogenic electronic chips to control the qubits, using the advanced semiconductor tools in the production line of PsiQuantum’s manufacturing partner GlobalFoundries.

The funding round was led by funds and accounts managed by BlackRock, along with participation from insiders Baillie Gifford and M12 — Microsoft’s venture fund — and new investors including Blackbird Ventures and Temasek.

PsiQuantum has raised a total of $665 million in funding to date.