Firgun Ventures Announces First Australian Investment in Silicon Quantum Computing
Insider Brief
- Firgun Ventures has made its first Australian investment by backing Silicon Quantum Computing, expanding its portfolio of early-stage quantum companies and signaling continued investor interest in silicon-based quantum technologies.
- Silicon Quantum Computing says it can manufacture quantum chips with atomic-scale precision and rapidly design, produce and test new chips through its vertically integrated approach to quantum hardware development.
- Founded in 2017 by Michelle Simmons, SQC counts the National Reconstruction Fund Corporation, UNSW and Telstra among its investors and is one of 11 companies to advance to Stage B of DARPA’s Quantum Benchmarking Initiative.
- Photo by WikiImages on Pixabay
PRESS RELEASE — Firgun Ventures, a London-based, global quantum-focused venture capital firm specializing in early growth-stage quantum technology, today announced its first Australian investment. Silicon Quantum Computing (SQC), a global silicon modality leader, widely viewed as one of the most scalable approaches to quantum computing, joins the portfolio. The company’s existing investors include Australia’s National Reconstruction Fund Corporation (NRFC), The University of New South Wales (UNSW) and Telstra, among others.
SQC is the only company in the world capable of manufacturing quantum chips with atomic (0.13 nanometer) precision while delivering quantum-enhanced AI products to enterprises and governments today. As a full-stack company with in-house QPU manufacturing, SQC can design, produce and test new quantum chips in under one week: an execution speed that sets the company apart in the global race to commercial-scale quantum computing.
Zeynep Korutürk, co-founder of Firgun Ventures, said: “Scaling quantum systems is key to unlocking technologies that will solve some of the world’s most complex challenges. Firgun is proud to support SQC, a company at the forefront of silicon-based quantum computing with world-class semiconductor manufacturing capability, which we believe provides a clear pathway to fault-tolerant, commercial-scale systems.”
Michelle Simmons, Founder & CEO of Silicon Quantum Computing, added: “SQC was built with an absolute commitment to materials purity and precision engineering, precisely what is required to deliver commercial scale quantum computing. Firgun’s investment accelerates our world-leading manufacturing capability and the continued deployment of our commercial products, Watermelon™ and Quantum Twins™, already in the hands of customers today.”
SQC was founded in 2017 by Simmons, the globally recognised pioneer of atomic electronics, and is chaired by Simon Segars, the former CEO of Arm Holdings. SQC employs over 100 people across Australia, Europe and the US, and is one of the 11 companies that have successfully advanced to stage B of DARPA’s Quantum Benchmarking Initiative.
Firgun Ventures’ investment, made via a SAFE note, adds SQC to its portfolio of quantum technology companies. Prior investments of Firgun Ventures include Photonic Inc (Canada), Quantum Elements (USA), and Quantum Motion (UK) and Oxford Quantum Circuits (UK).
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Matt Swayne
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.
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MENTIONED IN THE ARTICLE
Firgun Ventures
Firgun Ventures is a global quantum-first venture capital firm investing in Series A/B quantum scale-ups. The firm combines capital with quantum-specific operational and commercial support, aiming to set a new AI-aided standard for venture capital. Firgun Ventures focuses on bridging the funding gap at the Series A/B stage for quantum technology companies, supporting their growth into category leaders and delivering economic impact across sectors such as healthcare, energy, finance, and cybersecurity.
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Silicon Quantum Computing
SQC aims to commercialise the research produced from Australia Centre of Excellence for Quantum Computation and Communication Technology. They envision a 10-qubit quantum integrated circuit prototype in silicon by 2023.
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University of New South Wales
The University of New South Wales, often referred to as UNSW Sydney, is a public research university situated in Sydney, New South Wales, Australia. It was established on July 1, 1949. It stands as one of the original members of the Group of Eight, a consortium of research-focused Australian universities. UNSW, founded in 1949, holds the status of a research-focused university.
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Photonic Inc.
Photonic focusses on designing and manufacturing silicon-based, high-quality, quantum technologies.
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Quantum Elements
Quantum Elements pioneers quantum systems simulation, enabling increased performance for quantum hardware across platforms with tools and solutions.
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Quantum Motion
Quantum Motion is a quantum computing company focused on developing scalable quantum computing technologies. They aim to create quantum computing architectures using a silicon-based platform with a CMOS-compatible process, leveraging established semiconductor fabrication techniques to achieve practicality and scalability.
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Oxford Quantum Circuits
Oxford Quantum Circuits (OQC) is a company that specializes in quantum computing technology aimed at addressing challenges like climate change and new drug discoveries. They offer Quantum Computing as-a-Service (QCaaS), making quantum computing accessible for breakthrough discoveries. OQC's core technology, the Coaxmon, ensures scalability and high-fidelity operation times in their superconducting quantum processors.
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