Sydney-based, Diraq, a quantum computing company raised $15 million led by Quantonation in Series A-2 and $20 million in Series A in May 2022, making the total $35 million to build Qubits (a hardware that powers quantum computing).
University of New South Wales and Higgins Family Investments actively backed the Series A-2. After the funding round closed, Diraq said to the media that the total funds raised to date is $120 million from various investors in the US and Australia.
Diraq Raised $15M & $20M in Series A-2 and A To Build Qubits
CEO Diraq, Andrew Dzurak said the funds raised will enable us to work on R&D of the most advanced quantum chips ‘Qubits’. These quantum processors will be the most advanced and powerful and could leverage the semiconductor industry in the coming years.
Diraq’s Qubits processors are ion-trapped metal ionized silicon wafers and are more advanced than IBM processors. Moreover, experts said that quantum computers still need millions of Qubits wafers to outperform classical computers.
Also, Diraq claims that they have patents for Qubits’ CMOS-based architecture.
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