PsiQuantum has become the first unicorn in Imec.xpand’s portfolio as it fetched a valuation of more than $3bn.

PsiQuantum, a US-based quantum computing technology developer based on research at University of Bristol and Imperial College London, has completed a $450m series D round led by funds and accounts managed by BlackRock.
Software provider Microsoft’s corporate venture capital unit, M12, also backed the round, as did Baillie Gifford, Blackbird Ventures and Singaporean government-owned investment firm Temasek.
PsiQuantum is developing what it expects to be the first commercially viable quantum computer, utilising a system where photonic circuits are patterned onto a silicon chip and used to manipulate photons.
The company began producing silicon photonic and electronic chips for its Q1 system in May 2020. The round valued it at $3.15bn according to Silicon Valley Business Journal, and it has now raised $665m since it was founded in 2016, it said, although the numbers do not add up.
The valuation makes it the first unicorn in the…

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