Quantum Startup Diraq Selected for Up To $300 Mil U.S. Funding

(Updates with DAPRA statement and three other companies that were selected)

Diraq, a startup founded in Sydney, on Wednesday said it was selected for funding of up to $300 million from the U.S. Department of War’s Defense Advanced Research Projects Agency (DARPA) to build a quantum computer that generates more value than it costs to build and operate.

The selection was part of DARPA’s Quantum Benchmarking Initiative (QBI) launched in 2024 to determine whether it is possible to build an industrially-useful quantum computer by 2033.  Diraq is one of four companies that advanced to this final Stage C, according to DARPA.