Diraq has secured a $20 million ($14 million USD) equity investment from the National Reconstruction Fund Corporation (NRFC) to support the transition of its silicon-based quantum computing research into commercial production. The funding is intended to anchor advanced manufacturing in Australia and accelerate the development of hardware designed for integration with existing data center infrastructure. This investment follows Diraq’s geographic expansion into Melbourne and its established technical operations in Sydney, Palo Alto, Boston, and Chicago.
The company’s architecture utilizes silicon spin qubits (quantum dots) fabricated via standard Complementary Metal-Oxide-Semiconductor (CMOS) processes on 300mm wafers. This approach enables the high-density integration of quantum and classical control electronics on a single silicon chip. Diraq’s qubits operate at a temperature of approximately 1 Kelvin, which is significantly higher than the millikelvin requirements of superconducting qubits, thereby reducing the complexity and energy requirements of the necessary cryogenic cooling systems.
Diraq’s technical roadmap targets the delivery of an initial quantum computer by 2029, with a goal of reaching utility-scale performance by 2033. The platform is engineered to support millions of qubits on a single chip, with projected manufacturing costs of less than one dollar per qubit. The hardware is housed in a compact, server-rack-compatible form factor designed to facilitate hybrid quantum-classical workloads within standard high-performance computing (HPC) environments.
The company’s scaling strategy is supported by partnerships with imec, GlobalFoundries, Nvidia, and Dell. In late 2025, Diraq demonstrated over 99% two-qubit gate fidelity on randomly selected industrially fabricated devices. Furthermore, the company was selected for Stage B of the U.S. Defense Advanced Research Projects Agency (DARPA) Quantum Benchmarking Initiative (QBI), a program focused on validating hardware platforms for large-scale procurement and utility-scale feasibility.
The NRFC investment joins a diverse group of backers, including Main Sequence Ventures, Quantonation, and several Australian superannuation funds such as Hostplus and UniSuper. The capital will be utilized to increase the company’s Australian-based workforce, which currently includes over 70 staff and PhD students across its research, development, and commercialization divisions.
Read the official announcement from Diraq here.
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