Diraq, a startup focused on developing chips for quantum computers, has completed a $15 million capital raise. This funding round includes new investments from the United States and Singapore, with ICM Global Funds and Morgan Creek Digital joining the company’s investor base. Returning investors in this round include Main Sequence, Uniseed, NewSouth Innovations, and Quantonation.
Diraq develops quantum computing chips that are designed using technology similar to that used for producing silicon processors. The company aims to release its first quantum product by 2029, preceding a commercially useful “fault-tolerant” quantum computer by 2033. This $15 million raise contributes to Diraq’s overall funding, which included a $33 million AUD ($22 million USD) extended Series A round last year and $30 million AUD ($20 million USD) raised in 2022. The company also recently commenced work through a Department of Defence quantum program.
This new investment is intended to support Diraq’s international expansion. The development of quantum computers is expected to enable the execution of algorithms beyond the capabilities of current supercomputers, with potential applications in areas such as drug discovery, agriculture, materials engineering, and energy transfer. The funding contributes to the advancement of silicon-based quantum computing technology, a sector working towards scalable and commercially viable quantum systems.
Read more about this funding in the Capital Brief LinkedIn post here.
July 8, 2025
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