What are the funding trends in quantum computing right now?

All funding deals in the quantum computing market over the last years

Below is the table listing all the deals. You can find our methodology at the end of this page.

If you want a deeper understanding of the market and its current dynamics, get our report on quantum computing funding, valuations and who's ahead.

Is quantum computing funding actually growing fast right now?

Quantum computing funding is growing fast in 2026, even though the headline dollar total makes the market look almost flat.

We tracked 51 financings across 43 quantum computing companies from January 1 through September 21, compared with 30 deals across 26 companies over the same period in 2025. Deal activity has jumped 70%, while the number of funded companies is up 65%.

Rounds are getting bigger too. Among financings with precise disclosed amounts, the median has moved from $21.6 million last year to $37 million today. Two years ago, it was $15.7 million. A median round up from $21.6 million to $37 million is a clear change, and we follow what else has shifted this year in our report covering quantum computing.

The odd-looking number is total capital. We can calculate $2.516 billion of funding this year, slightly below the $2.582 billion recorded over the comparable 2025 period. That seems out of step with the rest of the market at first, but the explanation is simple: 2025 contained a couple of exceptionally large rounds that distorted the total.

There is also more missing dollar data this year. We have precise amounts for 34 of 51 deals, versus 26 of 30 last year. A lot of the missing information comes from Chinese financings announced as hundreds of millions of renminbi, above a stated minimum, or without an exact figure. The true 2026 capital total is therefore more understated than the 2025 figure.

Funding measure	2026 YTD	2025 YTD	2024 YTD
Deals	51	30	21
Unique funded companies	43	26	17
Known capital	$2.516B	$2.582B	$629.5M
Median disclosed round	$37.0M	$21.6M	$15.7M
Average disclosed round	$74.0M	$99.3M	$35.0M
Largest round	$350M	$1.0B	$300M
Companies raising more than once	6	4	4
Deals with precise amounts	34/51	26/30	18/21

Is the quantum funding boom just a few giant rounds?

No. The 2026 quantum funding market actually looks stronger once we strip out the biggest rounds.

Remove every financing above $50 million and we are left with $421.9 million this year, versus $298.4 million over the same period in 2025. That is a 41% increase.

The difference becomes even larger with a $100 million cutoff. Funding below that level reaches $669.1 million this year, more than twice the $298.4 million recorded a year earlier.

Last year’s headline was heavily shaped by PsiQuantum’s $1 billion Series E and Quantinuum’s roughly $600 million equity raise. Together, those two financings accounted for well over half the comparable-period capital.

This year’s money is spread much more widely. The largest deal represents 13.9% of known capital, down from 38.7%, and the five biggest financings account for 47.1%, versus 84.4% last year.

So the current expansion is hard to dismiss as a megaround effect. There are still plenty of $100 million-plus deals, but they sit on top of a much busier market underneath.

Are more quantum startups getting funded, or are rounds just getting bigger?

Both are happening in quantum computing today: more companies are raising money, and the typical disclosed financing is much larger.

The number of funded companies has climbed from 26 to 43. Because company count is growing almost as quickly as deal count, repeated rounds by a small group of startups cannot explain the jump in activity.

At the same time, the median disclosed financing has risen sharply. Investors are spreading money across a wider set of companies while also writing bigger checks to a typical company that gets funded.

We do see a little more repeat fundraising. Six companies completed multiple financings during the current period, versus four last year. But that increase is too small to drive the overall market.

This is one of the clearest pieces of evidence that quantum funding has genuinely broadened in 2026. There are simply many more companies getting funded.

Why is so much quantum funding going into hardware now?

Quantum hardware is absorbing most of the money now as companies move into fabrication, system build-out and commercial deployment.

Hardware accounts for 36 of the 51 financings we tracked, up from 14 of 30 a year earlier. Its share of deal activity has therefore gone from 46.7% to 70.6%.

The money has moved even more aggressively. Quantum Hardware Systems account for $2.251 billion, or 89.5% of all capital for which we have precise amounts. The median hardware round has reached $73.6 million, compared with $22 million last year.

Recent financings show what investors are paying for. QuantWare raised $178 million to expand production and build KiloFab, which the company describes as a dedicated open-architecture quantum processor fabrication facility. Quantum Motion raised $160 million to commercialize silicon-based quantum computers. OQC closed a $350 million Series C to expand deployed quantum infrastructure internationally.

Quobly offers perhaps the clearest example. Its €115 million Series A is financing the industrialization of silicon quantum computers using 300 mm semiconductor manufacturing. STMicroelectronics, one of the round’s leaders, has explicitly linked its investment to bringing semiconductor-grade manufacturing into quantum computing.

Those are expensive jobs. Building processors, fabs, control systems and deployable machines takes far more capital than developing another software layer on top of existing hardware.

Category	2026 deals	Deal share	Known capital	Capital share
Quantum Hardware Systems	36	70.6%	$2.251B	89.5%
Components	6	11.8%	$204.8M	8.1%
Programming Software	4	7.8%	$39.8M	1.6%
Middleware Tools	5	9.8%	$20.5M	0.8%
Hardware in 2025	14	46.7%	$2.107B	81.6%
Hardware in 2024	12	57.1%	$452.1M	71.8%
Hardware median round in 2026	-	-	$73.6M	-
Hardware median round in 2025	-	-	$22.0M	-

Is quantum software falling behind hardware?

Yes, at least in funding terms. Quantum software is still getting financed, but investors are currently putting far more money into the physical layer.

Programming Software and Middleware together account for nine deals, around 18% of activity, yet only 2.4% of known capital. With software at 18% of deals but only 2.4% of capital, we compare which business models are winning in our quantum computing market report.

Programming Software has been particularly weak compared with last year. Its median disclosed round has dropped from $72 million to $14 million, while its capital share has fallen from 5.6% to 1.6%.

Middleware receives even less money. Five deals produced just $20.5 million of quantifiable funding, below 1% of the total.

The samples are small enough that one big round can move these percentages quickly, so we would not call this a collapse in quantum software. The relative shift is much clearer: companies building the actual machines have access to a completely different pool of capital right now.

That gap also says something about where investors think the bottleneck sits. The expensive race is around making quantum computers larger, manufacturable and deployable, not around adding more companies to the software stack.

Are investors giving up on early-stage quantum startups?

No. Early-stage quantum funding is unusually active right now, and some supposedly early-stage rounds have become enormous.

We counted 20 Seed rounds this year, up from nine over the comparable 2025 period. Their median size has more than doubled from $4.16 million to $9.9 million.

Series A has changed even more. Twelve Series A deals represent 23.5% of financing activity but 26% of known capital. The median has climbed from $22 million to $47 million.

Quobly’s €115 million Series A shows how strange the old stage labels can look in quantum computing today. A company can still be relatively early in its institutional funding history while already needing serious industrial capital for semiconductor manufacturing and commercial systems.

Later rounds remain large, especially Series C, where the median sits at $130 million. But Seed and Series A together still represent almost two-thirds of all deals. Investors have clearly not closed the door on younger companies.

Stage	2026 deals	Deal share	Capital share	Median round
Seed	20	39.2%	8.9%	$9.9M
Series A	12	23.5%	26.0%	$47.0M
Series B	4	7.8%	14.9%	$88.3M
Series C	5	9.8%	27.7%	$130.0M
Series D+	1	2.0%	5.8%	$147.0M
Growth Equity	3	5.9%	9.1%	$114.0M
Unknown	6	11.8%	7.6%	$95.0M
Seed + Series A combined	32	62.7%	34.9%	-

Are quantum investors backing new companies or sticking with the same winners?

Quantum investors are doing both: first financings are increasing, while established companies are also coming back for bigger follow-on rounds.

We identified 12 first financings this year, compared with seven last year. Their share of all deals barely changes, staying around 23%, because follow-on financings have expanded just as quickly.

The size of those first checks has changed much more. Their median has gone from $2.5 million to $10.25 million.

Follow-ons have risen from 23 to 39 deals, and their median has moved from $26 million to $45.85 million. Existing quantum companies therefore have considerably more access to capital as well.

The market is supporting company formation and scale-up at the same time. New entrants are appearing faster in absolute numbers, while companies that have already raised are finding enough investor appetite to finance another stage of development.

We treat first-financing status as directional because public funding histories are never perfectly exhaustive. The size of the difference is still large enough to be useful.

Is China suddenly dominating quantum computing funding?

China now dominates the growth in quantum deal count, although we still cannot measure its true dollar weight cleanly.

We found 23 Chinese financings this year, compared with only three over the same period last year. That single country explains most of Asia-Pacific’s jump from eight deals to 26. Chinese companies completing 23 financings against three last year is a sharp rise; we show who gets funded, and by whom, in our quantum computing funding report.

The disclosure problem is unusually large. Only nine of those 26 APAC rounds have precise amounts that we can confidently aggregate. Many Chinese announcements use broad renminbi ranges or disclose no number at all.

So the 21.8% APAC share of known capital should be read cautiously. Deal volume tells us something much firmer: China has become a major source of new quantum financing activity.

The policy context has moved in the same direction. China’s current five-year planning framework puts quantum technology among the future industries the country wants to develop into new growth engines. More recently, China also created a national technical committee for quantum information standardization covering quantum computing, communications and precision measurement.

That does not let us assign a government-policy cause to any individual round. It does make the sudden increase in Chinese activity less surprising.

Geography	2026 deals	Deal share	Known capital share	2025 deals
Asia-Pacific	26	51.0%	21.8%	8
Europe	14	27.5%	45.8%	10
North America	9	17.6%	29.8%	6
Middle East	2	3.9%	2.5%	6
China	23	45.1%	Incomplete	3
APAC deals with precise amounts	9	17.6% of all deals	-	-
Europe known capital share in 2025	-	-	21.1%	-
North America known capital share in 2025	-	-	65.6%	-

Is Europe becoming a much bigger quantum funding market?

Europe is taking a much larger share of quantum capital in 2026, even without an explosion in its number of deals.

European companies completed 14 financings, versus ten last year. Because global activity has risen so quickly, Europe’s share of deals actually slipped from 33.3% to 27.5%.

Its share of known capital has gone the other way, rising from 21.1% to 45.8%.

OQC’s $350 million round, QuantWare’s $178 million Series B, Quantum Motion’s $160 million Series C and Quobly’s €115 million Series A show how Europe arrived there. Several European hardware companies are now raising rounds large enough to finance industrial-scale development.

The policy environment is unusually aligned with that shift. The European Commission’s Quantum Europe Strategy focuses on scalable infrastructure, startup and scaleup investment, supply chains and industrialization. The EU has since amended the EuroHPC framework to strengthen its quantum infrastructure mandate, while the planned Quantum Act is supposed to address industrial capacity, pilot lines and supply-chain resilience.

For now, Europe’s change looks more like bigger companies raising bigger industrial rounds than a sudden flood of new startups.

Is North American quantum funding actually weakening?

North American quantum funding has more deals this year, so the sharp fall in its capital share should not be mistaken for a broad retreat.

We recorded nine North American financings, up from six in the comparable 2025 period.

Known capital share nevertheless falls from 65.6% to 29.8%. The explanation sits in last year’s comparison base: PsiQuantum raised $1 billion and Quantinuum raised approximately $600 million. A capital share falling from 65.6% to 29.8% does not mean North America lost; we look at who is ahead and who is falling behind in our quantum computing report.

Those two transactions made North America look exceptionally dominant in 2025. Without comparable billion-scale financings this year, its share mechanically drops.

There are also fresh signs of continuing investment around the region’s larger quantum programs. DARPA’s Quantum Benchmarking Initiative is currently evaluating different routes to utility-scale quantum computing, with companies progressing through increasingly detailed technical validation stages. PsiQuantum has meanwhile continued construction work around its utility-scale projects.

So far, the funding evidence shows fewer extreme outliers rather than fewer North American companies finding capital.

Are younger quantum companies raising serious money earlier?

Yes. Quantum companies are reaching large financings at a younger age than they were last year.

The median age of a funded company has fallen from five years to three.

Series A companies make the change easy to see. Their median age has dropped from five years to three even as their median round has climbed sharply.

Components companies have become younger as well, with median age moving from four years to roughly one and a half. Middleware went from four years to two.

That is an unusual combination. Bigger venture rounds are often associated with companies becoming older and more established. Quantum computing currently shows some of the opposite behavior because younger hardware companies can encounter expensive engineering and manufacturing requirements very early.

Quobly was founded in 2022 and is already financing semiconductor-scale industrialization. The size of the round makes more sense once we look at what the company needs to build rather than how many years it has existed.

Are more investors getting into quantum computing now?

Yes. The pool of investors willing to lead quantum computing rounds is much wider today.

We identified 57 distinct disclosed lead investors this year, up from 39 last year and 20 over the comparable 2024 period.

Only IDG Capital and Puhua Capital appear as leads on more than one 2026 deal after normalizing obvious name variations. The market therefore does not look controlled by a small group repeatedly leading the same transactions.

That is especially notable because lead-investor disclosure is slightly worse this year. We found a disclosed lead in 76.5% of deals, compared with 80% last year.

Some big names that appeared in the 2025 period do not show up as leads this time, including BlackRock, Temasek and Baillie Gifford. A nine-month gap tells us very little about whether an individual fund has lost interest, so we would not read much into those absences.

The broader change is easier to trust: a larger number of investors are finding quantum companies they are willing to lead.

Why are corporate investors clustering around quantum hardware?

Corporate investors are concentrating heavily on quantum hardware, where manufacturing knowledge and industrial infrastructure can be almost as valuable as the money itself.

Strategic investors appear in 11 of the 51 deals we tracked. That is 21.6% of activity, actually below last year’s 26.7%.

What changed is where they show up. Ten of those 11 strategic-backed rounds involve hardware, and their median disclosed deal size is $133.5 million. Ten of 11 corporate-backed rounds going to hardware is a clear lean; we look at which investors are making the biggest bets in our quantum computing funding report.

STMicroelectronics’ participation in Quobly makes the logic unusually explicit. ST says the partnership can use its 300 mm silicon manufacturing environment to help industrialize Quobly’s technology. Intel Capital joined QuantWare’s $178 million Series B as QuantWare expands processor manufacturing. The British Business Bank has also put substantial capital into Quantum Motion and OQC as those companies scale hardware platforms.

Corporate and strategic money is becoming more specialized. These investors are showing up where quantum startups need fabrication expertise, semiconductor processes, infrastructure or routes into industrial customers.

Has 2026 already become a bigger quantum funding year than 2025?

By number of deals, yes. Quantum computing has already recorded more financings in the first part of 2026 than during all of 2025.

We counted 45 financings across the full 2025 calendar year. The 2026 count had already reached 51 by the end of our research window.

Capital has not passed the full-year 2025 figure yet. Known funding currently equals about 81% of last year’s total, with more than three months outside our measurement period.

We would not mechanically annualize that number. Venture funding is too lumpy, especially in a sector where individual rounds can exceed $300 million or $1 billion.

The activity comparison is still striking. As seen above, 2026 also has materially worse amount disclosure because of the large Chinese cohort. The market has already exceeded last year’s deal count while a significant part of this year’s capital remains impossible to quantify precisely.

The comparison with 2024 is even wider: known 2026 YTD capital is already around 3.7 times the amount recorded across the whole of 2024.

What is actually changing in quantum computing funding?

Quantum computing funding is becoming broader, bigger at the typical-round level, and far more focused on building physical systems.

The first big change is participation. More companies are getting funded, rather than the market simply producing a few spectacular transactions. Today’s higher activity looks much healthier underneath the headline total.

The second is the type of work investors are financing. Hardware companies are now raising for fabs, processor production, system deployment and commercial infrastructure. QuantWare, Quantum Motion, Quobly and OQC all fit that pattern. Quantum computing is moving into a phase where building the machine itself consumes serious capital.

Early-stage funding remains alive inside that industrial shift. Seed activity has increased sharply, some Series A rounds have reached sizes that would once have looked like growth financing, and funded companies are younger on average.

Geography is changing too. China has become the biggest source of incremental deal activity, although poor disclosure prevents a clean dollar comparison. Europe has taken a much larger share of disclosed capital as several hardware companies raised nine-figure rounds.

Investor behavior adds another layer. More distinct investors are leading transactions, while corporate money has become tightly concentrated around hardware businesses where industrial capabilities are useful.

The most fragile conclusion concerns regional capital shares, especially Asia-Pacific. The strongest conclusion is simpler: there are more quantum companies raising money now, across a wider investor base, and much of that new capital is financing the expensive transition from quantum research toward manufactured and deployed systems.