PsiQuantum has announced that it has raised $1 billion in Series E funding, which values the company at $7 billion. The funding round was led by funds and accounts managed by affiliates of BlackRock, along with Temasek and Baillie Gifford. New investors include Macquarie Capital, Ribbit Capital, NVentures (NVIDIA’s venture capital arm), Adage Capital Management, Qatar Investment Authority (QIA), Type One Ventures, Counterpoint Global (Morgan Stanley), 1789 Capital, and S Ventures (SentinelOne). Existing investors, including Blackbird, Third Point Ventures, and T. Rowe Price Associates, Inc., also participated.
The funding will be used to build utility-scale quantum computing sites in Brisbane and Chicago, deploy large-scale prototype systems to validate systems architecture, and further advance the performance of its quantum photonic chips and fault-tolerant architecture. The company’s technology utilizes photonic qubits and high-volume semiconductor manufacturing, with chips designed by PsiQuantum and manufactured at GlobalFoundries’ Fab 8 in New York. A key component of this approach is the integration of Barium Titanate (BTO) into its manufacturing flow to create ultra-high-performance optical switches.
In addition to the investment from NVentures, PsiQuantum is collaborating with NVIDIA across a range of development areas, including quantum algorithms and software, GPU-QPU integration, and PsiQuantum’s silicon photonics platform. The company’s goal is to deliver commercially useful, fault-tolerant quantum computers. Professor Jeremy O’Brien, CEO of PsiQuantum, noted that the company’s approach is a grand engineering challenge focused on building million-qubit-scale machines. PsiQuantum also designs the cooling, networking, and control systems for its systems, which do not rely on traditional “chandelier”-style cryostats.
Read the full announcement here.
September 10, 2025
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