Diraq Raises $22m in Funding Round for CMOS Quantum Dot Technology

Australian quantum technology startup Diraq has recently announced an increase in its latest investment round by $7 million, bringing the total to USD $22 million. This boost in funding will further support Diraq's development of CMOS quantum dot technology aimed at constructing a quantum processing unit (QPU) for a fault-tolerant quantum computer with millions of qubits.

Among the strategic investors in the A2 round are Main Sequence, Taronga Ventures, Uniseed, UniSuper, Co:Act Capital, and additional participation from UNSW, Sydney. The round was spearheaded by Quantonation. Andrew Dzurak, CEO and Founder of Diraq, expressed excitement about the new investors, emphasizing the collaboration to achieve significant milestones on the path to delivering the world's first fault-tolerant quantum computer.

Diraq recently made headlines by revealing a record control accuracy of 99.9% for a quantum bit (qubit) produced by imec using industry-standard CMOS materials on a 300mm silicon wafer. This achievement underscores the feasibility of Diraq's technology for large-scale manufacturing in a commercial setting.

The proprietary technology behind Diraq's advancements has been developed over two decades of research, including a predecessor program at UNSW that has resulted in 11 Diraq patent families. Leveraging existing silicon manufacturing processes employed by CMOS foundries, the company has demonstrated high-accuracy spin-based quantum computation at elevated temperatures, a crucial step towards realizing silicon-based quantum processors with millions of qubits.

Bill Bartee, Managing Partner at Main Sequence, praised Diraq's breakthroughs as a testament to Australia's prominent position in the global quantum computing landscape. He highlighted the company's exceptional team, robust patent portfolio, and innovative approach, foreseeing the advancement of scalable, spin-based quantum computers into practical applications. The compatibility of Diraq's technology with advanced semiconductor manufacturing processes is seen as a significant advantage for scaling up.

Avi Naidu, Co-Founder and Managing Partner at Taronga Ventures, emphasized the transformative potential of major technological advancements like Diraq's quantum computers in the real asset sector. These developments represent a significant leap towards the next generation of data infrastructure, with implications for critical areas such as energy modeling, climate research, healthcare, and beyond. Supporting companies like Diraq, which have the capacity to revolutionize foundational industries, is a key focus for Taronga Ventures.