PsiQuantum, the Silicon Valley quantum computing start-up heavily backed by the Australian government, is raising more than $US750 million ($1.2 billion) in a transaction that will value the company at $US6 billion.
The financing round, first reported by Reuters overnight, would mean a potential windfall for the government and for Blackbird Ventures, which first invested in the company in 2021. The federal and Queensland governments invested a combined $940 million in PsiQuantum at a valuation that was significantly less than the new figure.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
