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- PsiQuantum
PsiQuantum Valuation, Funding & Investors
PsiQuantum is valued at $7B as of September 2025.
Last PsiQuantum valuation
$7B
Series E · Sep 2025
Last PsiQuantum funding round
Undisclosed stage
Amount undisclosed · Jan 2026
Cumulative funding PsiQuantum raised
$2.3B
across 8 funding rounds
Key investors in PsiQuantum
Temasek
Baillie Gifford
BlackRock
Government of Australia
Founders Fund
Redpoint
About PsiQuantum
PsiQuantum is a Palo Alto-headquartered quantum computing company building photonic-based fault-tolerant systems. The firm manufactures qubits in GlobalFoundries fabs, targeting 1 million-qubit processors by 2027 for climate modeling and drug discovery. PsiQuantum partners with DARPA and Australian government for utility-scale deployment.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services
Valuation
$7B (Sep 2025)
PsiQuantum Valuation
PsiQuantum is currently valued at $7B, based on its Series E in September 2025.
The $1B round was led by Baillie Gifford, BlackRock and Temasek.
PsiQuantum's valuation has grown 16x from $450M at its Series C in April 2020 to $7B in September 2025, across 4 priced rounds.
PsiQuantum valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2025 | Series E | $7B |
| May 2025 | Undisclosed stage | $7B |
| Jul 2021 | Series D | $3.1B |
| Apr 2020 | Series C | $450M |
PsiQuantum Funding History
PsiQuantum has raised a total of $2.3B across 8 funding rounds.
PsiQuantum's first fundraising round was a $14M Series A in June 2016. The most recent completed round was a undisclosed-stage round in January 2026.
PsiQuantum funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2026 | Undisclosed stage | OGBC Group (lead); Temasek; Baillie Gifford; NVentures; Government of Australia | - | - | PsiQuantum is a Silicon Valley-based quantum computing startup developing utility-scale, fault-tolerant quantum computers using photonic chips manufactured at GlobalFoundries. The company aims to deliver a million-qubit machine by the end of the decade, leveraging barium titanate optical switches and partnerships for cryogenic systems. On January 21, 2026, PsiQuantum announced a Series C investment from OGBC Group's Premier PQ Fund, with participation from NVentures (NVIDIA's venture arm), Temasek Holdings, and support from Australian Federal and Queensland Governments including $620 million for a Brisbane facility by 2027. Prior rounds include a $1 billion Series E in September 2025 led by BlackRock, Temasek, and Baillie Gifford at $7 billion valuation, and a $750 million Series E in March 2025 at $6-6.75 billion valuation. The 2026 investment accelerates PsiQuantum's roadmap to bypass NISQ-era systems for quantum advantage, integrating semiconductor manufacturing for scalability. PsiQuantum reported $10.8 million revenue in 2025. The funding aligns with surging quantum computing investments, where 2025 saw $4.53 billion raised, led by PsiQuantum's mega-rounds amid competition from Google, Microsoft, and others targeting commercial systems by 2029. |
| Sep 2025 | Series E | Baillie Gifford (lead); BlackRock (lead); Temasek (lead) | $1B | $7B | PsiQuantum, a Palo Alto-based quantum computing startup founded in 2016, develops fault-tolerant, million-qubit scale quantum computers using photonic qubits and semiconductor manufacturing processes. The company aims to deliver the world's first commercially useful quantum computer by targeting 2027, with sites planned in Brisbane, Australia, and Chicago, USA. In September 2025, PsiQuantum raised $1 billion in its Series E funding round, achieving a $7 billion post-money valuation. The round was led by BlackRock (funds and accounts managed by affiliates), Temasek, and Baillie Gifford, with participation from new investors including Nvidia’s NVentures, Macquarie Capital, Ribbit Capital, Adage Capital Management, Qatar Investment Authority, and others, alongside existing backers like T. Rowe Price. The funding supports scaling photonic chip production, deploying prototype systems, breaking ground on utility-scale quantum computing sites, and advancing fault-tolerant architecture. PsiQuantum leverages partnerships with GlobalFoundries, NVIDIA, and governments in the U.S., Australia, and UK to address manufacturing, cooling, and networking challenges in quantum computing. |
| May 2025 | Undisclosed stage | - | $22M | $7B | - |
| Apr 2024 | Undisclosed stage | Government of Australia (lead) | $609M | - | - |
| Jul 2021 | Series D | BlackRock (lead); Temasek; Baillie Gifford; Blackbird Ventures; SevenTrainVentures; M12 | $450M | $3.1B | PsiQuantum, a quantum computing startup founded in 2015 by Professor Jeremy O’Brien, develops fault-tolerant quantum computers using photonic technology and silicon photonics manufacturing via partnerships like GlobalFoundries. The company aims to build million-qubit-scale machines for commercial utility, with major contracts from governments in Australia and the US for quantum supercomputer sites in Brisbane and Chicago. In July 2021, PsiQuantum raised $450 million in a Series D funding round led by BlackRock (referred to as Blackrock Enhanced), with participation from Baillie Gifford, Blackbird Ventures, M12 (Microsoft's venture arm), Temasek Holdings, and others including Seven Train Ventures. This round valued the company at $3.15 billion post-money, reflecting strong investor confidence in its approach to scaling quantum systems despite no commercial products yet. The funding supported team expansion and development toward a one-million-qubit machine, positioning PsiQuantum ahead of competitors in the quantum race. Subsequent rounds included a $750 million raise in March 2025 at $6 billion pre-money and a $1 billion Series E in September 2025 at $7 billion post-money, led by BlackRock, Temasek, and Baillie Gifford, with new investors like Nvidia's NVentures. |
| Apr 2020 | Series C | Atomico (lead) | $150M | $450M | PsiQuantum is a photonics-based quantum computing company founded in 2015 in Palo Alto by Jeremy O'Brien, Mark Thompson, Peter Shadbolt, and Terry Rudolph. The company develops fault-tolerant, universal quantum computers leveraging semiconductor infrastructure and silicon photonics technology, with applications targeted at drug discovery, artificial intelligence, and materials science. PsiQuantum raised $150 million in Series C funding in April 2020 led by Atomico, with the stated motivation to accelerate the development of photonic quantum technology and expand the team. The round's post-money valuation was not publicly disclosed. This Series C represented an important milestone in the company's development, following earlier funding rounds. PsiQuantum has since grown into one of the most well-funded quantum computing companies globally, securing a subsequent $450 million Series D in July 2021 from BlackRock, followed by a major $940 million Australian government investment in April 2024, and a $1 billion Series E in September 2025 that valued the company at $7 billion. The company established high-volume manufacturing processes for its integrated photonic chipsets in partnership with GlobalFoundries and has committed to operationalizing its Brisbane quantum facility by 2027 alongside a facility in Chicago. |
| Sep 2017 | Series B | Founders Fund (lead) | $50M | - | PsiQuantum, founded in 2015 in Palo Alto by Jeremy O’Brien, Mark Thompson, Peter Shadbolt, and Terry Rudolph, develops photonics-based quantum computing technology leveraging semiconductor infrastructure to scale photonic qubit production for applications in drug discovery, AI, and materials science. The company raised $50 million in its Series B round in September 2017 led by Founders Fund to expand R&D efforts, hire talent, and accelerate development of scalable quantum computing. This followed a $13.5 million Series A in June 2016 led by Playground Global and Redpoint to establish initial quantum computing technology development. Subsequent rounds included a Series D of $450 million in July 2021 led by BlackRock at a $3.2 billion valuation to develop and commercialize quantum technology, and later financings such as $750 million in March 2025 at $6 billion valuation, A$940 million in April 2024 from Australian and Queensland governments to build a Brisbane quantum site by 2027, and a $1 billion Series E in September 2025 led by BlackRock, Temasek, and Baillie Gifford at $7 billion valuation with participation from Nvidia’s NVentures and others to scale manufacturing, advance chip development, and deploy utility-scale systems in Brisbane and Chicago. Total funding exceeds $2.3 billion across multiple rounds. PsiQuantum focuses on fault-tolerant, million-qubit-scale quantum computers manufactured via GlobalFoundries, emphasizing error correction over raw qubit count, with partnerships like Nvidia for quantum-AI integration and software tools. The company aims for commercial viability by 2027-2028, positioning against competitors like Quantinuum ($10B valuation) and others in a sector with rising valuations and government support. |
| Jun 2016 | Series A | Playground Global (lead); Redpoint (lead); The House Fund | $14M | - | PsiQuantum raised $13.5 million in its Series A round in June 2016 led by Playground Global and Redpoint, with participation from The House Fund, to establish the company and begin initial development of quantum computing technology. The company, founded in 2015 in Palo Alto, develops fault-tolerant, universal quantum computers using photonics-based technology and semiconductor infrastructure. Early investors recognized the potential of PsiQuantum's approach to scale photonic qubit production for applications in drug discovery, AI, and materials science. |
Who has invested in PsiQuantum?
14 investors have backed PsiQuantum across its funding rounds, including Temasek, Baillie Gifford, BlackRock, Government of Australia, Founders Fund and Redpoint.
Lead investors include OGBC Group, Baillie Gifford, BlackRock, Temasek, Government of Australia and 4 other investors.
PsiQuantum Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jul 2021 | ||
| 3 | Lead | Jul 2021 | ||
| 2 | Lead | Jul 2021 | ||
| 2 | Lead | Apr 2024 | ||
| 1 | Lead | Jun 2016 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Jun 2016 | ||
| 1 | Lead | Jun 2016 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Lead | Sep 2017 | ||
This data is available for Pro users. Sign up to see all 14 PsiQuantum investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialPsiQuantum Competitors
PsiQuantum competitors include listed companies like D-Wave Quantum and Core Scientific, and private ones like Photonic, GTA Semiconductor, Lightmatter and SiFive.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $2B | - | ||
| Private | - | - | $6.3B | - | ||
| Private | $50M | - | $4.4B | - | ||
| Private | $116M | - | $3.6B | - | ||
| Publicly listed | $25M | ($373M) | $6.7B | 166.4x | ||
| Publicly listed | $319M | ($211M) | $5.5B | 13.9x |
PsiQuantum Public Comps
PsiQuantum is still privately-owned, but its public comps include WinWay Technology, Empyrean Technology, China Aerospace Times, SigmaStar, AUO, SICC, 3Peak, MaxLinear, Jusung Engineering and Macronix.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $247M | $71M | 27.7x | 16.0x | 95.7x | 58.3x | |||
| $198M | $23M | 34.6x | 30.0x | 303.8x | 196.1x | |||
| $2.1B | $166M | 3.9x | 3.5x | 48.1x | - | |||
| $443M | $69M | 16.0x | 15.6x | 102.5x | 107.4x | |||
| $8.8B | $1.3B | 1.0x | 1.0x | 7.1x | 9.2x | |||
| $218M | $23M | 31.7x | 21.1x | 306.3x | 81.0x | |||
| $319M | $38M | 19.7x | 13.4x | 164.0x | 66.8x | |||
| $468M | ($90M) | 14.7x | 10.4x | (76.3x) | 39.4x | |||
This data is available for Pro users. Sign up to see all PsiQuantum competitors and their valuation data. Start Free Trial | ||||||||
Common questions about PsiQuantum
| When was PsiQuantum founded? | PsiQuantum was founded in 2016. |
| Where is PsiQuantum headquartered? | PsiQuantum is headquartered in San Francisco, CA, United States. |
| Is PsiQuantum publicly listed? | No, PsiQuantum is a private, VC-backed company. |
| What is PsiQuantum's valuation? | PsiQuantum was last valued at $7B in its Series E in September 2025. |
| How much funding has PsiQuantum raised? | PsiQuantum has raised $2.3B across 8 funding rounds. |
| What was PsiQuantum's last funding round? | PsiQuantum's last funding round was a undisclosed-stage round in January 2026, led by OGBC Group. |
| Who are PsiQuantum's investors? | PsiQuantum's investors include Temasek, Baillie Gifford, BlackRock, Government of Australia, Redpoint, Blackbird Ventures, NVentures, The House Fund, Playground Global, SevenTrainVentures and 4 others. |
| Which companies are comparable to PsiQuantum? | Companies comparable to PsiQuantum include Photonic, GTA Semiconductor, Lightmatter, SiFive, D-Wave Quantum and Core Scientific. |
See companies similar to PsiQuantum
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