Quantum computing spin-out Diraq raises $US15m in Series A-2 round

Diraq, a quantum computing spin-out from UNSW, has raised $US15m to fund the scaling up of its unique technology.

Diraq founder and CEO Andrew Dzurak, who is a quantum physicist at UNSW.

Diraq, a quantum computing company spun out from UNSW in 2022, announced a successful $US15m capital raising on Tuesday to fund to fund the scaling up of its unique technology.

The company, founded by UNSW quantum physicist Andrew Dzurak, who is now its CEO, is using its silicon quantum dot technology – developed at UNSW – to build quantum computers with the existing CMOS, or complementary metal-oxide semiconductor, chip fabrication techniques which are in common use today.

The company says its technology has the capacity to scale to billions of qubits per chip, giving it an advantage over rival approaches to quantum computing. In the next 18 months it will focus on developing a quantum computing chip in a standard semiconductor foundry.

“We are working closely with our foundry partners to drive qubit development based on tried and tested CMOS techniques coupled with our proprietary designs,” Professor Dzurak said.

“We are focused on delivering energy-efficient processors with billions of qubits on one chip contained in one refrigerator, rather than thousands of chips and refrigerators requiring hundreds of square metres of space in a warehouse.”

UNSW and John Higgins Family Investments – a vehicle of Melbourne investor John Higgins who made his fortune in Polish beer – participated in the $US15m Series A-2 capital raise. It follows on from a Series A funding round which raised $US20m.

Diraq is one of two major projects to develop a commercially viable quantum computer which have sprung from UNSW.

The other is led by UNSW physicist Michelle Simmons, a former Australian of the Year, whose Silicon Quantum Computing company uses a different technology to create qubits in silicon.