PsiQuantum Claims To Develop Quantum Computers With 1 Million Qubits; Raises $215 Million From Microsoft

Quantum computing may be the most profoundly world-changing technology uncovered to date - it could bring about revolutionary transformations in climate, energy and healthcare. A quantum computer has the power to unlock commercial value in scenarios where current compute capability faces hurdles. 

A new quantum computer under development claims to have 1 million qubits – significantly more powerful than Google’s recent quantum supremacy milestone. Google’s supercomputer currently has 53 qubits.

PsiQuantum, the startup which was founded in 2015 has raised $215 million from M12 and other investors such as from BlackRock Advisors, Founders Fund, Atomico and Redpoint Ventures. 

“A useful quantum computer requires at least a million qubits,” says the website of the company. If true, the computer would be incredibly more powerful than machines being developed by Google, IBM, Honeywell, and others.

What’s Different In PsiQuantum’s Approach?

One of the technological hurdles to overcome before we have full-fledged Quantum Computers is the challenge of Error Correction. 

PsiQuantum intends to eliminate it with a photonics-based substrate and a quantum computing architecture that takes advantage of photonics. 

PsiQuantum has yet to publish academic papers that can be peer-reviewed. The company has not published academic papers that can be evaluated for technology claims. But, the investors stand behind the company and trust its claims.

“While it’s enticing to imagine the benefits and opportunities of a quantum computer, PsiQuantum isn’t distracted by what’s beyond the finish line. They are disciplined and focused on the task at hand: delivering on a machine with hundreds of error-corrected, logical qubits. We at M12 have been impressed by the PsiQuantum team and look forward to their continued development,” wrote Samir Kumar, GM & Managing Director at M12- Microsoft’s Venture Fund in a blog.