Quantum computing is inching closer to prime time and investors are paying attention to the area, which has the potential to help developers process calculations and build AI models at incredible speed.
A record number of quantum computing startups are raising capital, with deal count hitting an all-time high in 2023, according to PitchBook data. Startups in the vertical secured 92 deals generating $1 billion in 2023, compared to $1.5 billion invested across 87 deals in 2022. At the same time, nearly all other tech verticals registered a drop in deal count.
Quantum computing is years away from consumer usage, but investors are still bullish on the space. In January, Quantinuum, a research and development company founded when Cambridge Quantum merged with Honeywell’s quantum computing division, raised $300 million in a round anchored by JP Morgan, giving the company a pre-money valuation of $5 billion.
These are the 10 VC-backed quantum computing companies that have raised the most capital since 2019, according to PitchBook data.
Featured image by Julia Midkiff/PitchBook News
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