Quantum Computing Startup Diraq Makes Waves with $15M Series A-2 Funding
February 20, 2024, 11:59 am
Location: Australia, New South Wales, Sydney
Employees: 11-50
Founded date: 2022
Total raised: $23M
Diraq, a Sydney-based quantum computing startup, secures $15 million in Series A-2 funding to advance its research and development initiatives. Led by Quantonation, the funding round aims to propel Diraq's cutting-edge technology to revolutionize the quantum computing industry.
Diraq, a rising star in the quantum computing realm, has successfully closed a $15 million Series A-2 funding round. This injection of capital, led by Quantonation, signifies a significant step forward for the Sydney-based company in its quest to push the boundaries of quantum computing technology.
The funding will be used to support Diraq's innovative research and development initiatives, with a focus on building quantum processors using silicon 'quantum dot' technology. By leveraging proprietary technology developed over 20 years of research, Diraq aims to drive qubit numbers on a single chip to the millions and ultimately billions needed for practical commercial applications.
Andrew Dzurak, CEO and Founder of Diraq, highlighted the company's strategic approach to quantum computing. By working closely with foundry partners to develop qubits based on tried and tested CMOS techniques, Diraq aims to deliver energy-efficient processors with billions of qubits on a single chip. This streamlined approach contrasts with traditional quantum computing methods, which often require multiple chips and refrigerators, consuming vast amounts of space and resources.
The Series A-2 funding round underscores Diraq's commitment to advancing fault-tolerant quantum computing development. With a focus on placing billions of qubits directly on silicon using 'quantum dots,' Diraq is poised to revolutionize the industry by offering a powerful, cost-effective, and compact quantum processor.
Will Zeng, a partner at Quantonation, expressed enthusiasm for leading the Series A-2 round and emphasized the company's ambitious scale-up program. The primary technical focus in the next 18 months will be on developing a quantum chip through a standard semiconductor foundry, solidifying the viability of Diraq's technology and propelling the company towards constructing the most powerful quantum computers in the world.
As Diraq continues to evolve as a key player in the global silicon quantum ecosystem, the funding round serves as a testament to the company's capabilities and potential impact. With a focus on leveraging existing chip fabrication technology and driving significant processing advances, Diraq is well-positioned to unlock the full potential of quantum computing for society and the economy.
In a rapidly evolving quantum computing landscape, Diraq's innovative approach and strategic partnerships position the company as a frontrunner in the race towards fault-tolerant quantum computing. With a clear vision and a dedicated team, Diraq is set to make waves in the quantum computing industry and pave the way for a quantum-powered future.
Diraq, a rising star in the quantum computing realm, has successfully closed a $15 million Series A-2 funding round. This injection of capital, led by Quantonation, signifies a significant step forward for the Sydney-based company in its quest to push the boundaries of quantum computing technology.
The funding will be used to support Diraq's innovative research and development initiatives, with a focus on building quantum processors using silicon 'quantum dot' technology. By leveraging proprietary technology developed over 20 years of research, Diraq aims to drive qubit numbers on a single chip to the millions and ultimately billions needed for practical commercial applications.
Andrew Dzurak, CEO and Founder of Diraq, highlighted the company's strategic approach to quantum computing. By working closely with foundry partners to develop qubits based on tried and tested CMOS techniques, Diraq aims to deliver energy-efficient processors with billions of qubits on a single chip. This streamlined approach contrasts with traditional quantum computing methods, which often require multiple chips and refrigerators, consuming vast amounts of space and resources.
The Series A-2 funding round underscores Diraq's commitment to advancing fault-tolerant quantum computing development. With a focus on placing billions of qubits directly on silicon using 'quantum dots,' Diraq is poised to revolutionize the industry by offering a powerful, cost-effective, and compact quantum processor.
Will Zeng, a partner at Quantonation, expressed enthusiasm for leading the Series A-2 round and emphasized the company's ambitious scale-up program. The primary technical focus in the next 18 months will be on developing a quantum chip through a standard semiconductor foundry, solidifying the viability of Diraq's technology and propelling the company towards constructing the most powerful quantum computers in the world.
As Diraq continues to evolve as a key player in the global silicon quantum ecosystem, the funding round serves as a testament to the company's capabilities and potential impact. With a focus on leveraging existing chip fabrication technology and driving significant processing advances, Diraq is well-positioned to unlock the full potential of quantum computing for society and the economy.
In a rapidly evolving quantum computing landscape, Diraq's innovative approach and strategic partnerships position the company as a frontrunner in the race towards fault-tolerant quantum computing. With a clear vision and a dedicated team, Diraq is set to make waves in the quantum computing industry and pave the way for a quantum-powered future.