Quantum-based Companies Make it on XPRIZE, Bessemer Venture Partners’ List of Top 100 Private Deep Tech Companies


Insider Brief

  • PsiQuantum, XtalPi and Xanadu are the quantum representatives on the just published XB100.
  • XB100 is a ranking of the world’s top 100 deep technology companies.
  • The list was commissioned by XPRIZE and Bessemer Venture Partners.
  • Image: XPRIZE, Bessemer Venture Partners

Three quantum-based companies are listed on the XB100, a ranking of the world’s top 100 private deep technology companies, a list commissioned by XPRIZE and Bessemer Venture Partners.

PsiQuantum, XtalPi and Xanadu are the quantum representatives on the list of deep tech companies that covers nine deep tech sectors — Agriculture, Artificial intelligence (AI), Aviation, Climate, Mobility, Next-gen biotech, Quantum, Robotics, and Space — and features luminaries, such as OpenAI and SpaceX.

PsiQuantum and Xanadu are both photonic-based quantum computer startups and XtalPi, number 89 on this list, is using quantum physics and artificial intelligence for drug discovery and development.

PsiQuantum was placed at 67 on the list and Xanadu was listed at 92 on the XB100. Judges placed XtalPi at 89.

The businesses were evaluated on four criteria: impact on humanity, valuation, scientific difficulty and commercial traction.

Judges include:

  • Anousheh Ansari: Astronaut and CEO of XPRIZE
  • Emily Calandrelli: Science Communicator, Author, and Emmy-nominated TV Host
  • Lori Garver: Co-founder of the Brooke Owens Fellowship and former Deputy Administrator at NASA
  • Ray Johnson: CEO of Technology Innovation Institute and former CTO of Lockheed Martin
  • Stacy Kauk: Sustainability Expert
  • Ray Kurzweil: Author, Inventor, and Futurist
  • Tina Seelig: Executive Director of Knight-Hennessy Scholars at Stanford University

According to a blog post about the list, the average company on the XB100 has been around for 9.2 years, has raised, on average, $801 million in capital, and is valued at $4.4 billion, A total of 84 are unicorns, or valued over $1 billion.

In terms of the list’s technological readiness level — or TRL — quantum is the most frontier of the deep technologies covered on the XB100.

“The company category with the lowest TRL was quantum computing, with a TRL of 4, while the company categories with the highest TRL were robotics and mobility, each with a TRL of ~8.5,” according to a blog post on the state of deep tech.

TRL 4 is a level at which the technology has achieved “component and/or system validation in a lab environment.”

However, quantum computing is included on the list because of its potential to solve the world’s biggest scientific and commercial challenges, according to the post.

“When quantum computers reach “quantum advantage,” the point where they’re powerful and stable enough to outperform classical computers in solving commercially valuable problems, they will revolutionize pharmaceuticals, logistics, financial services, automotive, and other industries,” They write, adding, “For instance, if a deep tech company actually manages to build a commercial quantum computer, it’s a no-brainer that the market is more than big enough and that customers will clamor to use it.”

You can read about the XPRIZE and Bessemer Venture Partner’s State of Deep Tech here.



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With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. [email protected]

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