Diraq, a Sydney-based company developing utility-scale quantum computers, received a $20 million equity investment from the National Reconstruction Fund Corporation. The money will go toward helping Diraq fuel research, product development and commercialization of its technology.
The company’s computers use silicon-based quantum bits called qubits, and Diraq plans to enable large-scale applications by 2031. Its technology is built on an architecture that leverages existing semiconductor manufacturing to deliver quantum computers at a lower cost and size compared to competitors.
The new funding will help Diraq further the research that began at UNSW Sydney, which the company spun out from in 2022. With a team of around 70 people, Diraq plans to create a cost-efficient path to delivering utility-scale quantum computing.
