Quantum computing startup PsiQuantum has raised $1 billion in its latest funding round at a valuation of $7 billion, it said on Wednesday.
This funding will help the company start building quantum computing facilities in Brisbane and Chicago, test large prototype systems, and improve the performance and reliability of its quantum technology.
Led by funds and accounts managed by affiliates of BlackRock (BLK), along with Temasek and Baillie Gifford, this fundraising brings in new investors, including entities administered by Macquarie Capital, Ribbit Capital, and NVentures (NVIDIA’s venture capital arm).
In addition to investment support from NVentures, PsiQuantum is collaborating with Nvidia (NASDAQ:NVDA) across a broad range of development areas, including quantum algorithms and software, GPU-QPU integration, and PsiQuantum’s silicon photonics platform.