Funding round
PsiQuantum Series D
PsiQuantum, which works in fault-tolerant quantum computing system deployment in Palo Alto, raised $450M in a Series D round announced on 27 Jul 2021, led by BlackRock, at a $3.15B post-money valuation. 6 firms took part. It is PsiQuantum's fourth venture round on record; the one before was a Series C in Nov 2019.
$450M
Amount raised
$3.15B
Post-money valuation
$2.70B pre-money
6
Investors
1 lead
14%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced PsiQuantum at $3.15B after the new money. The $450M bought investors about 14% of the company. It came 20 months after PsiQuantum's Series C. It is 19% of the $2.35B PsiQuantum has raised in the venture rounds on record. PsiQuantum raised again 33 months later: a Growth round of $610M in Apr 2024. Its next priced round, a Series E in Sep 2025, valued it at $7.00B.
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 this round 27 Jul 2021, led by BlackRock $450M$3.15B post-money
- Growth 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
BlackRock led the round with 5 other firms.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pivot Bio Chemicals | 19 Jul 2021 | $430M | $2.00B | DCVC and Temasek |
| Fireblocks Software Development Services | 27 Jul 2021 | $310M | $2.00B | Sequoia Capital and Stripes |
| Imperative Care Medical Supply Manufacturers | 15 Jul 2021 | $260M | not disclosed | D1 Capital Partners |
| Tech Companies | 26 Jul 2021 | $235M | $1.50B | Tiger Global |
| Food Production | 26 Jul 2021 | $235M | $1.50B | Tiger Global |
| Solaris Banks & ATMs | 26 Jul 2021 | $224M | $1.65B | Decisive Capital Management |
| Form Energy Batteries | 22 Jul 2021 | $200M | not disclosed | ArcelorMittal |
| Professional & Management Training | 19 Jul 2021 | $200M | $1.00B | SoftBank Vision Fund and Airtree |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did PsiQuantum raise in its Series D round?
PsiQuantum raised $450M in its Series D round, announced in Jul 2021.
Who led PsiQuantum's Series D round?
BlackRock led it, with Baillie Gifford, M12, Blackbird, Temasek and Quantum Group.
What was PsiQuantum's valuation at the Series D round?
$3.15B post-money ($2.70B pre-money).
Did PsiQuantum raise again after this round?
Yes: a Growth round in Apr 2024 of $610M.