The third quarter of 2025 was dominated by massive rounds for companies developing AI chips and quantum computers. Over $2.5 billion went to AI, with wafer-scale chip maker Cerebras leading the pack with a $1.1 billion raise. While several edge AI companies received backing, the quarter saw a marked shift towards solutions for the data center as firms seek to reduce the cost and power consumption of generative AI inferencing. Aside from the processors themselves, funding was also abundant for networking technologies that aim to improve the bandwidth of these massive systems.
Quantum was another hot sector last quarter, with a $1 billion round for a photonic quantum system maker and two more massive rounds for ion trap and superconducting modalities. Ten other firms in the space rec…
The third quarter of 2025 was dominated by massive rounds for companies developing AI chips and quantum computers. Over $2.5 billion went to AI, with wafer-scale chip maker Cerebras leading the pack with a $1.1 billion raise. While several edge AI companies received backing, the quarter saw a marked shift towards solutions for the data center as firms seek to reduce the cost and power consumption of generative AI inferencing. Aside from the processors themselves, funding was also abundant for networking technologies that aim to improve the bandwidth of these massive systems.
Quantum was another hot sector last quarter, with a $1 billion round for a photonic quantum system maker and two more massive rounds for ion trap and superconducting modalities. Ten other firms in the space received smaller rounds. Photonics was well-represented elsewhere, too, with ample backing for both PICs and interconnect technologies.
Other highlights include embedded Agents for predictive lifecycle monitoring, faster analog design with AI, EUV lasers, in-package cooling, and improved power management in this look at 75 companies that collectively raised over $6 billion in Q3 2025.
- Summary table
- Chips
- AI hardware
- EDA
- Manufacturing, equipment & materials
- Test, measurement & inspection
- Analog, mixed signal & wireless
- Power devices
- Photonics & optics
- Quantum computing
- Previous reports
Chips
SiPearl added €32.0M (~$37.6M) to its Series A round, bringing the total to €130.0M (~$152.8M) with new investment from Cathay Ventures, the European Innovation Council Fund, and France 2030. SiPearl builds high-performance processors for supercomputing, AI, and data centers. Optimized for energy efficiency, its processors are designed to work with any third-party accelerator, such as GPUs, AI-specialized chips, or quantum accelerators, and support a range of compilers, libraries, and tools, from traditional programming languages such as C/C++, GO, and Rust to AI frameworks such as TensorFlow and PyTorch. SiPearl recently taped out its Rhea1 processor, which combines 80 Arm Neoverse V1 cores with HBM and will be used in EuroHPC’s Jupiter exascale supercomputer. It is expected to be available for sampling in early 2026. Funds will support industrialization and R&D for next-gen processors. Founded in 2019, it is based in Maisons-Laffitte, France.
Corintis emerged from stealth with $24.0M in Series A funding led by BlueYard Capital with participation from Founderful, Acequia Capital, Celsius Industries, XTX Ventures, and others. Corintis has developed an in-chip microfluidic cooling system for data centers. It uses micro-scale channels that are tailored to a specific chip to guide coolant to the most critical regions. Designed using the company’s simulation and optimization software and made in its copper microfluidic manufacturing facility, the technology can be supplied as either drop-in replacement cold plates for current liquid cooling systems or co-packaged with a chip. In a recent collaboration with Microsoft, the startup demonstrated that its approach can effectively cool a server running core services. Founded in 2021 based on research conducted at EPFL, it is based in Lausanne, Switzerland.
Oxmiq Labs emerged from stealth with $20.0M in seed funding from MediaTek and others. Oxmiq provides GPU IP that integrates scalar, vector, and tensor compute engines in a modular architecture customizable for specific workloads and scalable from edge devices to data centers. Its architecture incorporates nano agents in silicon leveraging RISC-V cores, near-memory and in-memory computing, and light transport. The startup also provides a software stack for AI deployment and code portability across diverse computing platforms, including third-party GPU and AI accelerator platforms. Founded in 2023, it is based in Campbell, California, USA.
NeoLogic drew $10.0M in Series A funding led by KOMPAS VC with participation from M Ventures, Maniv Mobility, and lool Ventures. NeoLogic has developed what it calls CMOS+ technology that integrates standard CMOS gates/cells with reduced complexity gates/cells. The startup claims the approach can cut down the transistor count of digital circuits by up to 3x and result in up to 50% reduction of power dissipation as well as up to 40% area savings. It is fully compatible with the CMOS fabrication processes from 130nm to 2nm as well as common EDA tools. Funds will be used for hiring and developing server CPUs. Based in Netanya, Israel, it was founded in 2021.
AI hardware
Cerebras Systems raised $1.1B in Series G funding led by Fidelity Management & Research Company and Atreides Management, with participation from Tiger Global, Valor Equity Partners, 1789 Capital, Altimeter Capital Management, Alpha Wave Ventures, and Benchmark. Cerebras makes wafer-scale AI processors. Its third-generation technology, the Wafer Scale Engine 3, contains 4 trillion transistors to deliver 125 petaflops of AI compute through 900,000 AI-optimized cores with 44 GB of on-chip SRAM and 21 petabytes per second of memory bandwidth. Up to 2048 systems can be connected together. The company claims its wafer-scale chips can perform inference and training 20x faster than conventional GPUs with reduced power per unit compute. In addition to on-prem systems containing its packaged wafer, the company operates data centers to provide cloud-based access to its processors. Funds will be used to expand its technology portfolio and its U.S. manufacturing and data center capacity. Founded in 2025, it is based in Sunnyvale, California, USA.
Groq drew $750.0M in funding led by Disruptive, joined by BlackRock, Neuberger Berman, Deutsche Telekom Capital Partners, Samsung, Cisco, D1 Capital Partners, Altimeter, 1789 Capital, and Infinitum Partners. Groq makes chips based on its language processing unit (LPU) architecture, which it deploys in its cloud and on-prem server infrastructure for generative AI. The LPU employs a software-first design approach intended to make hardware utilization easier and a deterministic programmable assembly line architecture with on-chip memory. Founded in 2016, it is based in Mountain View, California, USA.
Rebellions raised $250.0M in Series C funding from Arm, Samsung Ventures, Pegatron VC, Korea Development Bank, Korelya Capital, Lion X Ventures, and others. Rebellions designs AI processors for large-scale inference. Its latest SoC contains four homogeneous chiplets and a full-chip mesh over UCIe-Advanced interconnects for 1TB/s per channel bi-directional bandwidth, along with 144GB HBM3E. It executes FP8 and FP16 in a single, mixed-precision pipeline and uses a predictive, software-controlled DMA engine to prefetch KV data. Funds will be used to accelerate mass production and advance its product roadmap. Founded in 2020, it is based in Seongnam, South Korea.
FuriosaAI raised $125.0M in Series C funding from Korea Development Bank, Industrial Bank of Korea, Keistone Partners, PI Partners, and Kakao Investment. FuriosaAI develops AI inference accelerators for the data center. Its tensor contraction processor (TCP) architecture treats tensor contraction, a higher-dimensional generalization of matrix multiplication, as a single, unified operation rather than dividing tensors into 2D matrices before performing computations. Along with a co-designed software stack, this gives the compiler a higher-level view to create an efficient custom dataflow path for each computation, minimizing data movement. Funds will be used to accelerate mass production of its LLM accelerator card. Founded in 2017, it is based in Seoul, South Korea, and has raised $246M to date.
Upscale AI launched with over $100.0M in seed funding led by Mayfield and Maverick Silicon with participation from StepStone Group, Celesta Capital, Xora Innovation, Qualcomm Ventures, Cota Capital, MVP Ventures, and Stanford University. Upscale AI provides silicon, systems, and software for ultra-low latency networking. The company offers a high-bandwidth AI networking fabric for data centers, network operating system (NOS) based on SAI/SONiC, and rack platforms. Founded in 2025, it is based in Santa Clara, California, USA.
SiMa.ai raised $85.0M in funding led by Maverick Capital, joined by StepStone Group and existing investors. SiMa.ai provides a physical AI platform that combines a machine learning SoC for multimodal edge inference with a software suite comprised of an SDK and no-code visual development tool. The SoC supports computer vision, CNNs, transformers, LLMs, LMMs, and generative AI inference, orchestrating complex pipelines with a highly programmable ML accelerator assisted by an on-chip Arm application processor and a digital signal processor that serves as a computer vision unit. It targets robotics, automotive, industrial automation, aerospace & defense, smart vision, and healthcare. Funds will support global expansion and accelerate the scale-up of its platform. Founded in 2018 and based in San Jose, California, USA, it has raised $355M to date.
Positron AI raised $51.6M in Series A funding led by Valor Equity Partners, Atreides Management, and DFJ Growth, joined by Flume Ventures, Resilience Reserve, 1517 Fund, and Unless Management. Positron designs energy-efficient hardware for large language model (LLM) inference. Its FPGA-powered servers are based on a memory-optimized architecture that achieves over 93% bandwidth utilization and can support trillion-parameter models. The company says it can map any transformer model directly onto hardware. Its next-generation product, expected to launch in 2026, is engineered specifically for large-scale frontier model inference and will support up to 16-trillion-parameter models. Funds will support product deployment. Founded in 2023, it is based in Reno, Nevada, USA.
Netrasemi drew INR 1.07B (~$12.5M) in Series A funding from Zoho Corporation and Unicorn India Ventures. Netrasemi makes SoCs for real-time AI on edge IoT devices based on a power-efficient graph stream parallel architecture. The SoCs contain acceleration cores, a heterogeneous compute fabric, and a UCIe-based die-to-die interconnect. They are optimized for vision and smart sensor applications in surveillance, industrial robotics, and smart infrastructure markets. Funds will be used for R&D, manufacturing, and marketing. Founded in 2020, it is based in Thiruvananthapuram, India.
EDA
Astrus raised $8.0M in funding led by Khosla Ventures with participation from 1517 Fund, Drive Capital, Alumni Ventures, and others. Astrus is building a physics-aware foundation model for analog chip design. The startup says its AlphaGo-inspired reinforcement learning architecture learns the underlying physics of chip design, quickly generating thousands of high-quality layouts and uncovering entirely new circuit architectures. It is initially focused on automating high-speed SerDes design. Funds will be used to hire, scale compute infrastructure, and deliver tools. Founded in 2022, it is based in Toronto, Ontario, Canada.
Maieutic Semiconductor raised $4.2M in seed funding led by Endiya Partners and Exfinity Venture Partners. Maieutic offers a generative AI copilot for analog chip design. The startup says its AI assistant can accelerate initial design phases, aid in tradeoff analysis, and automate reviews by detecting bugs and inconsistencies. Funds will support hiring and enhanced platform capabilities. Founded in 2025, it is based in Bengaluru, India.
Manufacturing, equipment & materials
Paragraf raised $55.0M in Series C funding. Paragraf manufactures graphene-based electronics using standard semiconductor processes. Instead of using metal catalysts or a transfer process, high-purity graphene is synthesized directly on-wafer using metal-organic chemical vapor deposition (MOCVD). The company uses the technology to make electrolyte-gated FET molecular sensors and Hall effect sensors that can map a range of magnetic fields. Paragraf also offers foundry services. Funding will accelerate scaling of manufacturing capabilities and boost production output. Founded in 2015 as a spin-out from Cambridge University, it is based in Somersham, UK.
xLight raised $40.0M in Series B funding led by Playground Global, joined by Boardman Bay Capital Management, Morpheus Ventures, Marvel Capital, and IAG Capital Partners. xLight is developing extreme ultraviolet (EUV) free electron lasers (FELs) for semiconductor manufacturing. The FEL uses electrons from a particle accelerator and passes them through undulators with a periodic magnetic field to generate coherent, high-intensity light beams. The startup claims its FEL system produces up to 4X higher power compared to laser-produced plasma sources and has programmable light characteristics that enable shorter wavelengths. The system can support up to 20 ASML systems with a 30-year operating lifetime and does not require consumables like tin or hydrogen. Funds will be used to complete a detailed design and kickstart construction of a full-scale prototype. Founded in 2021, it is based in Palo Alto, California, USA.
Multibeam Corporation raised $31.0M in Series B funding led by Onto Innovation and Lam Capital, joined by UMC Capital and MediaTek Capital. Multibeam provides multi-column e-beam lithography (MEBL) systems that provide a full-wafer or panel-level field of view, deep depth of focus, and the ability to write unique patterns without masks. It supports a range of applications, including rapid prototyping, advanced packaging and heterogeneous integration, chip ID and traceability, high-mix quick-turn manufacturing, compound semiconductors, silicon photonics, and 3D MEMS structures. Funds will be used to accelerate the development of its next-generation MEBL platform for 300mm wafer and panel-level maskless lithography. Founded in 2010, it is based in Santa Clara, California, USA.
HiQuTe Diamond drew €7.5M (~$8.8M) in funding from the Île-de-France Reindustrialization Fund, Bpifrance, TF Participations, Socadif, and iXcore. HiQuTe Diamond produces ultra-high-quality diamond wafers for quantum computing, power electronics, and next-generation sensors. Using a proprietary chemical vapor deposition (CVD) process, the company supplies thick diamonds heavily doped with boron as well as diamond plates with NV centers. It plans to soon offer 2-inch monocrystalline wafers and diamonds with ultra-low defect rates. Funds will support the launch of its first pilot line. Founded in 2022, it is based in Boulogne-Billancourt, France.
Syenta raised AU$8.8 (~$5.7M) in pre-Series A funding led by Investible and joined by OIF Ventures, Salus Ventures, SGInnovate, IQT, Blackbird Ventures, Jelix Ventures, Wollemi Capital Group, and Brindabella Capital. Syenta has developed localized electrochemical manufacturing technology that combines deposition and patterning in a single step to build high-resolution chip-to-chip interconnects. The method uses a stamp electrode with a dielectric pattern that defines localized electrochemical cells, enabling precision metal deposition only within those cells. Founded in 2022, it is based in Eveleigh, Australia.
Test, measurement & inspection
proteanTecs closed a $51.0M Series D round led by IAG Capital Partners, with participation from Samsung Catalyst Fund, Arm, Siemens, Addition, Zeev Ventures, Avigdor Willenz Group, MediaTek Innovation Fund, Intel Capital, Porsche Automobil Holding SE, and Koch Disruptive Technologies. proteanTecs provides telemetry-based solutions that deliver predictive lifecycle monitoring to optimize power, improve performance, and enhance the resilience and safety of complex electronic systems. Its on-chip embedded Agents capture health and performance data, which can be analyzed during production and in the field to improve yield, support binning, and monitor and predict degradation. Funds will be used for continued scale-up, including growth in key markets, new product development, and deeper integration across the electronics value chain. Founded in 2017, it is based in Haifa, Israel.
SixSense raised $8.5M in Series A funding led by Peak XV Partners, joined by Alpha Intelligence Capital and FEBE Ventures. SixSense offers an AI inspection platform for fabs and OSATs that provides automated visual inspection, defect classification, lot disposition, and root cause analysis. The startup claims its real-time vision engine can analyze every captured image at line speed and classify suspected defects into hundreds of types with over 99% accuracy and zero escapes. Its prediction capability can forecast when, where, and what to inspect by learning defect likelihood across time, layers, and lots. Funds will be used for global expansion and R&D of line-level intelligence. Founded in 2018, it is based in Singapore.
Analog, mixed signal & wireless
Morse Micro raised $88.0M AUD (~$59.0M) in a Series C round led by MegaChips with participation from National Reconstruction Fund Corporation, Blackbird Ventures, Main Sequence, Uniseed, Startmate, Hostplus, NGS Super, UniSuper, and individual investors. Morse Micro provides Wi-Fi HaLow SoCs for high-throughput, long-range IoT and edge AI connectivity. Comprising radio, PHY, and MAC, its second-generation chips operate in the 850-950 MHz band and are capable of delivering 43Mbps throughput at extended range. The company also offers modules and evaluation platforms. Funds will support international expansion and scaling production. Founded in 2016, it is based in Surry Hills, Australia, and has raised over $193M to date.
Omni Design Technologies received over $35.0M in Series A funding led by CDIB Capital, TEN Capital, FM Capital, Tipping Point Ventures, and Tipping Point Capital, with participation from VentureTech Alliance, Foothill Ventures, ASMedia, and Monta Vista Capital. Omni Design develops low power wideband signal conversion and processing solutions. It offers ADC/DAC, regulators, PVT monitors, and analog front-end IP, as well as high-speed interface and AFE chiplets and SoCs. Target markets include networking, wireless communications, autonomous vehicles, satellite communications, and AI. Funds will be used to accelerate its product roadmap. Founded in 2015, it is based in Milpitas, California, USA.
Celera Semiconductor raised $20.0M in Series A investment from Maverick Silicon. Celera provides custom analog ICs developed using its digital twin-based analog design library that automates the most complex parts of the analog design process. Its platform uses mathematically exact models of analog functions that replace manual circuit design with software-based optimization and generation, an approach it claims can greatly speed up the analog design process. Founded in 2018, it is based in San Jose, California, USA.
Power devices
Empower Semiconductor raised over $140.0M in Series D financing led by Fidelity Management & Research Company, joined by Maverick Silicon, CapitalG, Atreides Management, Socratic Partners, Walden Catalyst Ventures, Knollwood, and the Abu Dhabi Investment Authority. Empower provides integrated voltage regulators (IVRs) that combine numerous discrete components into a single IC. The company says that by integrating a switching voltage regulator with all necessary control and filtering circuitry into a single packaged device and eliminating the need for any external components, its technology provides higher transient accuracy and faster dynamic voltage scaling while shrinking the overall footprint. The IVRs target AI/HPC, data centers, embedded systems, and medical imaging applications. Empower also offers silicon capacitor technology for situations where power and signal integrity are critical. Founded in 2014, it is based in San Jose, California, USA.
Nanopower Semiconductorraised €9.4M (~$11.0M) in financing from Big Sur Ventures, Skagerak Capital, EIC Fund, Blystad Group, Borgen Investment Group, and others. Nanopower Semiconductor has developed a subthreshold power management IC for a battery-constrained system’s wireless chip, processor, and sensors. The startup says the architecture enables devices to operate without an active microcontroller in the nanoampere-range during periods without wireless communication while keeping monitoring and other functions intact. Funds will be used to scale the commercialization phase and mass production of its power-saving IC. Founded in 2017, it is based in Kristiansand, Norway.
Photonics & optics
Q.ANT raised €62.0M (~$71.8M) in Series A funding led by Cherry Ventures, UVC Partners, and imec.xpand with participation from L-Bank, Verve Ventures, Grazia Equity, EXF Alpha, LEA Partners, Onsight Ventures, and TRUMPF. Q.ANT develops thin-film lithium niobate (TFLN) photonic processors for AI and HPC. The startup offers a plug-in co-processor for data centers that is compatible with C/C++ and Python, which it says can improve both energy efficiency and performance. The processor accelerates nonlinear and mathematical operations, particularly in AI inference operations, physics simulations, and image analysis, while demonstrating 99.7% accuracy across complex computational tasks. Q.ANT is also developing quantum magnetometers and atomic gyroscopes. Funds will be used to scale production, develop next-gen processors, and expand to the US. Founded in 2018 as a spin-off from TRUMPF, it is based in Stuttgart, Germany.
Scintil Photonics received $58.0M in Series B funding led by Yotta Capital Partners and NGP Capital, with participation from Nvidia, BNP Paribas Développement, Supernova Invest, Bpifrance, Innovacom, Bosch Ventures, and Applied Ventures ITIC Innovation Fund. Scintil makes silicon photonic ICs with integrated lasers for ultra-high-speed optical interconnects in AI data centers. Its heterogeneous integrated photonics process combines silicon and indium phosphide photonics through die-to-wafer bonding of III-V materials on silicon, allowing for the integration of multiple optical devices, including lasers, photodiodes, and modulators, on a single chip. Made using the process, Scintil’s single-chip DWDM (Dense Wavelength Division Multiplexing) light engine integrates multi-wavelength distributed feedback lasers with silicon photonics to serve as an external laser source for co-packaged optics (CPO) transmissions. Funds will be used to hire and accelerate production. Founded in 2018 based on research from CEA-Leti, it is based in Grenoble, France.
Teramount raised $50.0M in Series A funding led by Koch Disruptive Technologies, joined by Grove Ventures, AMD Ventures, Hitachi Ventures, Samsung Catalyst Fund, and Wistron. Teramount provides a detachable connector for data centers that links optical fibers coming from outside the rack to the silicon photonics chips inside co-packaged optics systems. The company uses a self-aligning optics technology that offers better than ±30µm / 0.5dB of assembly tolerances when aligning single-mode or polarization-maintaining fibers to a silicon photonics chip. Funding will be used to grow its team and scale to volume production. Founded in 2013, it is based in Jerusalem, Israel.
OpenLight drew $34.0M in Series A funding led by Xora Innovation and Capricorn Investment Group, joined by Mayfield, Juniper Networks, Lam Capital, New Legacy Ventures, and K2 Access. OpenLight enables custom photonic ASIC design and manufacturing through its process design kit (PDK). Based on the heterogeneous integration of indium phosphide and silicon photonics, the PDK provides access to a library of passive and active components covering integrated lasers, modulators, amplifiers, and detectors, including a 400Gb/s modulator and indium phosphide heterogeneously integrated on-chip laser technology. It also offers design services. Funds will be used to expand its PDK library, create reference PICs, and hire. Formerly a Synopsys subsidiary, it became an independent company in 2025 and is based in Goleta, California, USA.
Arago raised $26.0M in seed funding led by Earlybird Venture Capital, Protagonist Management, and Visionaries Tomorrow, joined by GenerativeIQ, C4 Ventures, Acequia Capital, and individual investors. Arago is developing photonic AI accelerators optimized for energy efficiency and high throughput that are fully compatible with existing compute infrastructure, semiconductor manufacturing processes, and software frameworks. Its hybrid digital, analog, and optical design uses a deterministic architecture that maximizes memory transfer efficiency and speeds up pointwise operations, while its software stack interfaces with PyTorch and abstracts away low-level hardware details to enable deployment of AI models without modifying their existing codebase. Funds will be used for R&D and hiring. Founded in 2024, it is based in Paris, France.
Lumotive added $14.0M to its Series B round with investment from Amazon Industrial Innovation Fund and ITHCA Group. Lumotive creates programmable optical semiconductor products using software-defined solid-state photonic beamforming technology. Its Light Control Metasurface chips, which are manufactured using conventional silicon fabrication processes, enable precise manipulation of light at a sub-micron level by dynamically shaping and steering light on the chip’s surface without relying on moving parts. With a native 160° steering field of view, applications range from 3D sensing and lidar to high-speed communications and optical switching. Funds will be used to expand into new markets, particularly AI data center infrastructure and satellite communications. Founded in 2017, it is based in Redmond, Washington, USA.
Opticore raised $7.5M in seed funding led by Origin Ventures and Jetha Global. Opticore is developing optical processing units (OPUs) designed to handle memory-intensive AI tasks. Fabricated using standard foundry processes, the OPU leverages time-multiplexed computing to encode a trillion parameters on a single chip while achieving 100 TOPS/W compute efficiency through parallel computation and the use of dynamic weights for real-time training and inference. It converts memory data to optical beams for on-chip movement with waveguides and computations with optical devices, eliminating the need for memory to be physically close to processors. The company expects to have its first scaled system demonstration in 2026. Founded in 2024, it is based in Fremont, California, USA.
Quantum computing
PsiQuantum raised $1.0B in Series E funding led by BlackRock, Temasek, and Baillie Gifford, joined by Macquarie Capital, Ribbit Capital, Nvidia’s NVentures, Adage Capital Management, Qatar Investment Authority, Type One Ventures, Counterpoint Global, 1789 Capital, S Ventures, Blackbird Ventures, Third Point Ventures, and T. Rowe Price Associates. PsiQuantum is developing a fault-tolerant photonic quantum computer that leverages high-volume semiconductor manufacturing. Its photonic chipset is manufactured by GlobalFoundries, which is integrated with barium titanate optical switches. PsiQuantum also designs its own cryogenic, networking, and control systems, including a high-density cooling solution, similar to those found in data centers, with the capacity to cool hundreds of quantum chips in a single cabinet. Additionally, it has demonstrated high-fidelity quantum networking between distant cabinets using standard telecom fiber. The company also offers a software platform for designing, developing, and optimizing fault-tolerant quantum algorithms. Funds will be used to break ground on utility-scale quantum computing sites, deploy large-scale prototype systems, and advance its fault-tolerant architecture. Founded in 2015, it is based in Palo Alto, California, USA.
Quantinuum raised $600.0M in Series B funding from Quanta Computer, Nvidia’s NVentures, QED Investors, JPMorganChase, Mitsui, Amgen, Cambridge Quantum Holdings, Serendipity Capital, Honeywell, MESH Ventures, and Korea Investment Partners. Quantinuum makes quantum processors and full-stack hardware based on trapped-ion qubits and a Quantum Charge-Coupled Device (QCCD) architecture. The company says its approach enables flexibility in algorithmic design along with extremely high fidelity operations, all-to-all connectivity, mid-circuit measurement, and qubit reuse. Its second-generation computer uses a racetrack-shaped trap and has 56 fully-connected qubits. The company also offers middleware and application software for fields like cryptography, computational chemistry, finance, and AI. Funds will support the launch of its next-gen system later this year and efforts to develop fault-tolerant approaches. Formed in 2021 with the merger of Cambridge Quantum Computing and Honeywell Quantum Solutions, it is based in Broomfield, Colorado, USA.
IQM Quantum Computers drew $320.0M in Series B funding led by Ten Eleven Ventures with participation from Tesi, Elo Mutual Pension Insurance, Varma Mutual Pension Insurance, Schwarz Group, Winbond Electronics Corporation, European Innovation Council, and Bayern Kapital. IQM builds full-stack superconducting quantum computers, from hardware and processors to software and automated calibration tools. It currently offers a 54-qubit quantum computer accessible through the cloud, with a 150-qubit system planned for release later this year. Funds will be used to advance error-corrected systems, scale assembly lines, and expand globally. Founded in 2018 as a spin-out from Aalto University and VTT Technical Research Centre of Finland, it is based in Espoo, Finland.
Table
| Company | Sector | Amount Raised (M, USD) | Funding Type | HQ | Month |
|---|---|---|---|---|---|
| Cerebras Systems | AI HW | $1,100.0 | Series G | USA | Sep 2025 |
| PsiQuantum | Quantum | $1,000.0 | Series E | USA | Sep 2025 |
| Groq | AI HW | $750.0 | Venture | USA | Sep 2025 |
| Quantinuum | Quantum | $600.0 | Series B | USA | Sep 2025 |
| IQM Quantum Computers | Quantum | $320.0 | Series B | Finland | Sep 2025 |
| Periodic Labs | Materials | $300.0 | Seed | USA | Sep 2025 |
| Rebellions | AI HW | $250.0 | Series C | South Korea | Sep 2025 |
| Xpanceo | AR/VR | $250.0 | Series A | United Arab Emirates | Jul 2025 |
| Empower Semiconductor | Power Semi | $140.0 | Series D | USA | Sep 2025 |
| FuriosaAI | AI HW | $125.0 | Series C | South Korea | Jul 2025 |
| Upscale AI | AI HW | $100.0 | Seed | USA | Sep 2025 |
| SiMa.ai | AI HW | $85.0 | Venture | USA | Aug 2025 |
| Mojo Vision | Displays | $75.0 | Series B | USA | Sep 2025 |
| Q.ANT | Photonics & Optics | $71.8 | Series A | Germany | Jul 2025 |
| Morse Micro | Wireless | $59.0 | Series C | Australia | Sep 2025 |
| Scintil Photonics | Photonics & Optics | $58.0 | Series B | France | Sep 2025 |
| Paragraf | Sensors | $55.0 | Series C | UK | Aug 2025 |
| Positron AI | AI HW | $51.6 | Series A | USA | Jul 2025 |
| proteanTecs | Test & Inspection | $51.0 | Series D | Israel | Sep 2025 |
| Teramount | Photonics & Optics | $50.0 | Series A | Israel | Jul 2025 |
| xLight | Equipment | $40.0 | Series B | USA | Jul 2025 |
| Maybell Quantum | Quantum | $40.0 | Series B | USA | Sep 2025 |
| SiPearl | Processors & Network | $37.6 | Series A | France | Jul 2025 |
| Omni Design Technologies | AMS | $35.0 | Series A | USA | Sep 2025 |
| OpenLight | Photonics & Optics | $34.0 | Series A | USA | Aug 2025 |
| QpiAI | Quantum | $32.0 | Series A | India | Jul 2025 |
| Multibeam Corporation | Equipment | $31.0 | Series B | USA | Jul 2025 |
| Arago | Photonics & Optics | $26.0 | Seed | France | Jul 2025 |
| Qedma | Quantum | $26.0 | Series A | Israel | Jul 2025 |
| QuamCore | Quantum | $26.0 | Series A | Israel | Aug 2025 |
| Corintis | Thermal Management | $24.0 | Series A | Switzerland | Sep 2025 |
| Celera Semiconductor | AMS | $20.0 | Series A | USA | Aug 2025 |
| Oxmiq Labs | Processors & Network | $20.0 | Seed | USA | Aug 2025 |
| QuiX Quantum | Quantum | $17.5 | Series A | Netherlands | Jul 2025 |
| Mueon | Processors & Network | $15.5 | Seed | USA | Sep 2025 |
| Lumotive | Photonics & Optics | $14.0 | Series B | USA | Jul 2025 |
| Nanofiber Quantum Technologies (NanoQT) | Quantum | $14.0 | Series A | Japan | Sep 2025 |
| Netrasemi | AI HW | $12.5 | Series A | India | Jul 2025 |
| Cambridge Terahertz | Sensors | $12.0 | Seed | USA | Jul 2025 |
| Groove Quantum | Quantum | $11.8 | Venture & Grant | Netherlands | Jul 2025 |
| SpiNNcloud | AI HW | $11.7 | Grant & Venture | Germany | Jul 2025 |
| Ettifos | Auto Chips | $11.0 | Series B | South Korea | Jul 2025 |
| Nanopower Semiconductor | Power Semi | $11.0 | Venture | Norway | Sep 2025 |
| Claros Technologies | Manufacturing | $10.0 | Convertible Note | USA | Aug 2025 |
| NeoLogic | Processors & Network | $10.0 | Series A | Israel | Aug 2025 |
| CREAL | AR/VR | $8.9 | Venture | Switzerland | Jul 2025 |
| HiQuTe Diamond | Materials | $8.8 | Venture | France | Jul 2025 |
| SixSense | Test & Inspection | $8.5 | Series A | Singapore | Aug 2025 |
| Blues | Wireless | $8.0 | Venture | USA | Jul 2025 |
| Astrus | EDA | $8.0 | Seed | Canada | Sep 2025 |
| Fluence Technology | Equipment | $7.7 | Seed | Poland | Aug 2025 |
| Opticore | Photonics & Optics | $7.5 | Seed | USA | Sep 2025 |
| iNGage | Sensors | $7.0 | Seed | France | Sep 2025 |
| Agate Sensors | Sensors | $6.6 | Seed & Grant | Finland | Sep 2025 |
| Delta.g | Sensors | $6.2 | Seed | UK | Sep 2025 |
| Belfort | Security | $6.0 | Seed | Belgium | Sep 2025 |
| Sonair | Sensors | $6.0 | Venture | Norway | Sep 2025 |
| Gixel | AR/VR | $5.9 | Seed | Germany | Jul 2025 |
| InPhocal | Equipment | $5.8 | Seed | Netherlands | Jul 2025 |
| Syenta | Packaging | $5.7 | Pre-A | Australia | Aug 2025 |
| TracXon | Equipment | $5.5 | Seed | Netherlands | Sep 2025 |
| PhovIR | Sensors | $5.4 | Seed | UK | Aug 2025 |
| Celestial AI | Photonics & Optics | $5.0 | Series C | USA | Aug 2025 |
| BQP (BosonQ Psi) | Quantum | $4.9 | Seed | USA | Jul 2025 |
| Maieutic Semiconductor | EDA | $4.2 | Seed | India | Jul 2025 |
| MHS Co | Thermal Management | $3.6 | Series A | South Korea | Aug 2025 |
| Aixtal | Manufacturing | $3.0 | Venture | Japan | Sep 2025 |
| EDGX | AI HW | $2.7 | Seed | Belgium | Aug 2025 |
| Keiron Printing Technologies | Equipment | $2.7 | Seed | Netherlands | Aug 2025 |
| Bifrost Electronics | Quantum | $2.5 | Seed | USA | Jul 2025 |
| YPlasma | Thermal Management | $2.5 | Seed | Spain | Jul 2025 |
| Nullspace | EDA Adjacent | $2.5 | Seed | USA | Aug 2025 |
| Comminent | Wireless | $2.0 | Venture | India | Aug 2025 |
| Commutator Studios | Quantum | $1.7 | Venture | Germany | Jul 2025 |
| MicroAlign | Photonics & Optics | $0.4 | Grant | Netherlands | Sep 2025 |