Quantum Computing has long been announced as “turning the corner,” but now several companies are determined to make this a commercial reality, committing to solving complex problems beyond the scope of classic computers.
The issues range from medicine and cybersecurity to materials science and chemistry. However, there are very practical issues, such as developing chips that can reliably host large quantities of qubits. It is the basic unit of quantum computing, which stands for qubit.
High-stakes technology races with uncertain horizons of time, high-tech giants such as Google and Microsoft are at the forefront. But startups are also set up to play an important role. In particular, it can tackle bottlenecks such as connectivity and error correction, which are essential for scaling quantum systems.
However, some startups and small tech companies are taking the chip challenge head on, and deserves mentions along with efforts to attract more attention from industry giants. Big Technology projects usually boast the best Qubit counts, but rethinking designs from the original principles and using different approaches can result in equally promising results.
Here are some of the companies behind the main quantum chip project that are worth tracking.
Akhetonics
Akhetonics is a German photonics startup working on all optical general purpose chips. This is a paradoxical bet in areas that focus most on narrower applications. This bold version and its first principles approach helped raise a 6 million euro seed funding round in November 2024, led by Matterwave Ventures.
Alice and Bob
Alice & Bob is a French startup that raised $104 million Series B round funding in January 2025 and continues to work towards building “fault-tolerant” quantum computers.
Unlike companies that focus solely on chips, Alice & Bob develops full quantum computing systems. To do this, it is a kind of superconducting Qubits designed to reduce errors and simplify error correction.
Amazon
Amazon officially joined the Quantum Chip Race in early 2025 when AWS introduced Ocelot, which was developed in collaboration with the California Institute of Technology. This is the company’s first quantum chip, but AWS previously worked with D-Wave, IonQ, Rigetti and others to launch Braket, a quantum computing service.
Atomic Computing
Atom Computing is a US company that builds quantum computers with an array of optically confined neutral atoms.
At the Microsoft Ignite 2024 Conference, Microsoft and Atom Computing announced plans to launch commercial quantum computers in 2025.
D-Wave
D-Wave is a quantum computing company whose latest flagship system, Advantage2 Prototype, relies on a process called Quantum Annealeal, and uses Quantum Physics to find the most stable lowest energy arrangement to get a better mix for your particular problem.
Founded in 1999 as a spinoff from the University of British Columbia in Canada, D-Wave is a publicly listed company currently listed on the NYSE.
eeroq
Illinois-based Eeroq is a startup betting on helium for its quantum chip design. With a $7.25 million seed funding round in 2022 and publicly supported by the region, the company made a $1.1 million commitment to expanding its headquarters in Humboldt Park, Chicago in September 2024.
Fujitsu & Riken
In April 2025, Fujitsu and Riken, a Japanese research institute, announced that they had developed a 256-kut superconducting quantum computer at the Riken RQC-Fujitsu Collaboration Center, which rose from the 64-kut iteration in 2023.
In December 2024, Google announced its latest quantum computing chip, Willow.
Google never stopped saying Willow is better than its predecessor, Sycamore, or described it as a “big breakthrough in quantum error correction.” In a statement that made the headline, Hartmut Neven, founder of Google Quantum AI, wrote that Willow’s performance lent “credit in the notion that quantum computation occurs in many parallel universes.”
IBM
IBM’s quantum efforts include the condor, a superconducting chip with milestones for scaling up to 1,121 qubits, and the Heron, a 156 quit processor focusing on improved performance and reduced error rates.
Intel
Intel is developing quantum computers based on silicon spin qubits. In June 2023, it announced Tunnel Falls, a 12-qubit research chip, and it was expected that a next-generation quantum chip based on Tunnel Falls would be released in 2024, but this did not happen.
Aeon Q
IONQ is a publicly available US company that develops trap ion quantum computers that include IONQ Forte. It acquired the intertwining network of Canadian networking specialists after it was released through SPAC in late 2021.
IQM
IQM is about building Finnish startups and superconducting quantum computers, a spin-out of the University of Aalto and VTT Technical Research Centre in Finland, receiving early funding from the Business Finnish government agency followed by additional support from the EIC Accelerator program.
In 2022, IQM raised 128 million euros in Series A2 funding led by the World Fund, adding 39 million euros, led by Mig Fonds, which raised as part of Series A in 2020.
Microsoft
In February 2025, Microsoft introduced Mayarana, a quantum chip that uses a topology core architecture. Microsoft previously declared that it hopes to build a quantum supercomputer within 10 years.
Pasqal
Pasqal is a French startup that takes a full stack approach to quantum computing and betting on neutral atoms. The co-founders who appeared on Institut D’Optique in 2019 include the 2022 Nobel Prize winner Physics and Alain Aspect Professor.
In February 2023, Pascal raised a 100 million euro Series B funding round led by Temasek in Singapore, winning participation from existing investors’ mathematics, Defense Innovation Fund, Daphni, ENI and new Investor European Innovation Council (EIC) Fund, WAED Ventures, and BPIFRANCE (through large venture funds).
psiquantum
Psiquantum is a quantum computing startup that uses Photonics Technology to aim to build “one million quarter machines.” In February 2025, we announced the Omega, a quantum photonic chipset manufactured by GlobalFoundries in New York.
In 2021, Psiquantum landed a $450 million Series D investment led by BlackRock. This is currently said to lead the company with a $750 million round at a $6 billion primoney valuation. Founded by Australian scholars, it is also supported by the Australian and Queensland governments.
Qilimanjaro
Qilimanjaro is a Spanish startup focused on analog quantum app-specific integrated circuits (QASICS), employing a full stack approach of hardware, software, and applications.
Based in Barcelona, he won the four-year startup competition held at the Mobile World Congress in 2024, receiving 1.5 million euros of funding from Catalonia later that year.
Quandela
Quandela is a French startup founded in 2017 to develop photonic quantum computers.
In November 2023, Quandella raised a Series B of 50 million euros and received support from the French government through its France 2030 plan.
Quantinuum
Quantinuum is a quantum computing company founded in 2021 through the merger of Cambridge Quantum and Honeywell Quantum Solutions. Its flagship product is the H series of trapped ion quantum computers. In April 2024, together with Microsoft, we announced a breakthrough in error correction.
QUANTWARE
Quantware is a Dutch startup that came up with its own 3D chip architecture, Vio, and focuses on scaling the bottlenecks of quantum processing units (QPUs). In February 2025, we began accepting pre-orders for Contralto-A, the first QPU for quantum error correction.
Founded in 2020, it is a spin-out of Tu Delft and its related research institute Qutech. In March 2025, it announced it had raised a Series A (approximately $19.27 million) of EUR (approximately $19.27 million) that it had raised a 20 million euro series A (approximately $19.27 million) that included 5 million euros of 7.5 million euros protected by the Council on Innovation (the rest is grants).
Kera
Boston-based Quera bets on neutral atoms as “the best approach to realizing large-scale, fault-resistant quantum computers.” Its products include Aquila, a 256-squit analog neutral atom quantum computer that was launched in 2022 and is accessible via Amazon Braket.
Quera is particularly supported by Google and led the $230 debt round raised by Quantum Startup in February 2025. It uses conversion memos backed by SoftBank, Valor and existing investors.
Rigetti Computing
Founded in 2013 by Chad Rigetti, Rigetti Computing is a quantum company focused on superconducting technology. The product range includes the ANKAA-3 and the upcoming 336 kit Lira system.
Like its rivals D-Wave and IonQ, Rigetti Computing is a publicly traded company. It raised just under $200 million in VC capital before it was made public via SPAC in 2021.
In February 2025, we signed a strategic partnership with Taiwan-based Quanta Computer. It plans to invest $35 million and buy shares of Rigetti.
seeqc
US Quantum Startup SeeQC is an acronym for “scalable and energy efficient quantum computing” and is a spin-out of the chip company Hypres, founded by a former employee of IBM’s superconducting electronics division.
In 2023, SeeQC announced a partnership with NVIDIA to build “all digital, ultra-low latency chip-to-chip links between quantum computers and GPUs.”
In January 2025, SeeQC raised $30 million in funding, co-led by Booz Allen Ventures and the Japanese-European VC company Nordicninja.
Other supporters include Merck’s Corporate Venture Capital Arm and M Venture. SEEQC is leading the UK-backed Kupharmer project and working with BASF and Merck to investigate how Quantum Computing can accelerate discovery.
spinq
Spinq is a Chinese startup founded in 2018 that develops quantum computers. Some of them claim to be portable and utilize nuclear magnetic resonance (NMR).
Xanado
Xanadu is a Canadian startup aimed at building quantum computers through a photonic approach. In January 2025, we introduced Aurora, a 12-squit system that includes 35 photonic chips.
Founded in 2016, Xanadu raised approximately $275 million at a $1 billion valuation, including the $100 million Series C in November 2022.
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