Funding round
PsiQuantum Growth
Reported as "Growth Equity"
PsiQuantum, which works in fault-tolerant quantum computing system deployment in Palo Alto, raised $610M in a Growth round announced on 1 Apr 2024, led by QIC and QIC. 2 firms took part. It is PsiQuantum's fifth venture round on record; the one before was a Series D in Jul 2021.
$610M
Amount raised
Not disclosed
Post-money valuation
2
Investors
2 leads
Valuation
What this round says about the price
PsiQuantum did not disclose a valuation in this round; its last disclosed one was $3.15B at the Series D (Jul 2021). It came 33 months after PsiQuantum's Series D. It is 26% of the $2.35B PsiQuantum has raised in the venture rounds on record. PsiQuantum raised again 17 months later: a Series E round of $1.00B in Sep 2025, at $7.00B post-money.
PsiQuantum's funding rounds
PsiQuantum has 6 venture rounds on record and 2 other deals. This one is highlighted.
- Series A 1 Jun 2016, led by Playground $14M
- Series B 1 Sep 2017, led by Founders Fund $50M
- Series C 1 Nov 2019, led by M12 $230M
- Series D 27 Jul 2021, led by BlackRock $450M$3.15B post-money
- Growth this round 1 Apr 2024, led by QIC $610M
- Other not a venture round 30 May 2025, led by BlackRock $22M
- Series E 1 Sep 2025, led by BlackRock, Temasek and Baillie Gifford $1.00B$7.00B post-money
- Grant not a venture round 27 Jul 2026 $125M
Investors
Who put money in
QIC and QIC led the round.
Lead investors
- backs 24 venture-backed companies
- backs 24 venture-backed companies
Comparable rounds
How it compares
The closest in time: 2 in Semiconductors, then Growth rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Semiconductors | 14 Aug 2024 | $40M | not disclosed | Playground |
| Semiconductors | 15 Nov 2024 | undisclosed | not disclosed | not named |
| Vertelo Car Rental | 22 Apr 2024 | $1.50B | not disclosed | not named |
| Tillman Infrastructure Telecommunications | 25 Apr 2024 | $1.00B | not disclosed | not named |
| Xaira Therapeutics Biotechnology | 23 Apr 2024 | $1.00B | not disclosed | ARCH Venture Partners and Foresite Capital |
| Lambda Tech Companies | 4 Apr 2024 | $500M | not disclosed | Macquarie |
| Buyers Edge Platform Tech Companies | 8 Apr 2024 | $425M | not disclosed | General Atlantic |
| Solar Energy Company | 1 Apr 2024 | $325M | not disclosed | Mercuria Energy Group |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did PsiQuantum raise in its Growth round?
PsiQuantum raised $610M in its Growth round, announced in Apr 2024.
Who led PsiQuantum's Growth round?
QIC and QIC led it.
What was PsiQuantum's valuation at the Growth round?
It was not disclosed; its last disclosed one was $3.15B at the Series D (Jul 2021).
Did PsiQuantum raise again after this round?
Yes: a Series E round in Sep 2025 of $1.00B at $7.00B post-money.