Industry: Quantum computing
Quantum computing funding
Quantum companies now raise from grant agencies, specialist funds, corporate investors and governments that take equity. We show each of them what your next round proves, with the milestones, buyers and cash plan behind it.
- Quantum funds, corporate investors and public programmes for hardware, software, sensing and networking
- Decks and models that tie each round to a qubit, error-rate or customer milestone
- Waveup prepares investor materials for quantum computing companies: $3B+ raised for 600+ startups since 2014
In short
What is quantum computing funding?
Quantum computing funding is the money quantum hardware, software, sensing and networking companies raise to reach their next technical milestone. It mixes government grants and contracts, specialist quantum VCs, corporate investors and, for leaders, the stock market. Quantum companies raised a record $10.9B in 2025, MIT's Quantum Index Report counts.
- Who it's for
- Quantum hardware, software, sensing and networking companies, pre-seed to Series D+
- What we build
- Investor deck, financial model, valuation, investor list, data room
- Prices
- Deck from $6,000, model from $3,000. Flat fees
- Track record
- $3B+ raised for 600+ startups since 2014
Market data checked on 8 November 2026. Sources are under each section.
Why is quantum computing funding rising so fast?
Machines are improving on dated roadmaps, and governments and big tech now fund the builders directly. The catch for younger teams: a few leaders take most of the money.
The opportunity
Public money and corporate budgets now reach quantum companies directly, not only university labs.
- IBM plans to put more than $10 billion into quantum over five years
- The US government plans to hold stakes in nine quantum companies it funds
- Quantinuum, IQM, Xanadu and Horizon Quantum all listed on Nasdaq in 2026
The problem
Capital is pooling at the top. Roughly 60% of 2025's startup investment went into the year's ten biggest deals, McKinsey estimates.
Market size
What is the quantum computing market worth in 2026?
Quantum computing companies earned more than $1 billion in 2025, McKinsey estimates. It forecasts a market of $43 billion to $71 billion by 2035. Four forces drive the spending:
- Defence research: DARPA's benchmarking programme pays up to $300 million per company at its final stage
- Corporate pilots: over 300 organisations, Airbus and JPMorgan Chase among them, work with quantum companies
- Big-tech roadmaps: IBM aims to deliver a large fault-tolerant quantum computer in 2029
- Consolidation: IonQ bought Oxford Ionics for $1.1 billion in 2025, one of several quantum exits that year
Venture capital
How much do quantum companies raise, and at which stage?
Quantum companies raised a record $10.9 billion in 2025, MIT's Quantum Index Report counts. Most of it went to firms already listed or raising late-stage rounds.
raised in 2025 by quantum companies already listed on a stock market
went into late-stage venture rounds in 2025, up from $618.5M in 2024
of 2025's startup investment came from governments, sovereign funds and universities, against a third in 2024
Who invests in quantum computing startups?
Specialist quantum funds, Bosch's venture arm, a growth investor and three public funders, one of which takes equity. For more names, see our list of deep tech and hard science venture capital firms.
Investor database
Hardware, robotics and IoT investors in our database
The funds with the most hardware investments. Pick a stage, or open a fund for its cheque sizes.
Top 5 by hardware investments
Investments by industry
- Fintech & Financial services13%
- Hardware. Robotics & IoT13%
- Data & Analytics10%
- Rounds
- Pre-seedSeedSeries A
- Average cheque
- $0–$100K$100K–$500K$500K–$1M$1M–$3M
- Based in
- Singapore, Singapore
- Invests in
- Southeast Asia, Oceania, USA
560 investments in total, 14 tagged Hardware. Robotics & IoT.Open the full fund profile
Investments by industry
- Software & Apps24%
- Healthtech & Wellness14%
- AI & Deep Tech10%
- Hardware. Robotics & IoT9%
- Rounds
- SeedSeries ASeries BSeries C+
- Average cheque
- $1M–$3M$3M–$10M$10M–$50M
- Based in
- New York, United States
- Invests in
- USA
516 investments in total, 9 tagged Hardware. Robotics & IoT.Open the full fund profile
Investments by industry
- Software & Apps24%
- Healthtech & Wellness12%
- Hardware. Robotics & IoT8%
- Rounds
- SeedSeries ASeries BSeries C+
- Average cheque
- $100K–$500K$500K–$1M$1M–$3M
- Based in
- Evanston, USA
- Invests in
- USA
150 investments in total, 9 tagged Hardware. Robotics & IoT.Open the full fund profile
Investments by industry
- Software & Apps18%
- Hardware. Robotics & IoT16%
- AI & Deep Tech11%
- Rounds
- Pre-seedSeedSeries A
- Average cheque
- Not listed
- Based in
- Menlo Park, United States
- Invests in
- USA
27 investments in total, 7 tagged Hardware. Robotics & IoT.Open the full fund profile
Investments by industry
- Healthtech & Wellness25%
- AI & Deep Tech12%
- Biotech10%
- Hardware. Robotics & IoT8%
- Rounds
- Pre-seedSeedSeries A
- Average cheque
- Not listed
- Based in
- Austria
- Invests in
- Israel, Europe, USA
55 investments in total, 4 tagged Hardware. Robotics & IoT.Open the full fund profile
From our investor database.
What are the hardest questions in a quantum raise?
In our Fundraising 2025 study, 56 VCs ranked revenue growth, unit economics, burn and missed milestones as top reasons to pass. Quantum teams earn little early, so a slipped technical target weighs heaviest.
A long road to fault tolerance
DARPA wants to learn by 2033 whether any approach can reach a useful scale. Company roadmaps range from hundreds to hundreds of thousands of logical qubits.
What investors ask
- Which technical result does this round pay for, and by when?
What your deck shows
- Dated targets for qubits, error rates and logical qubits
- Cash to reach each target, with room for one slip
Seed money hasn't grown
Seed rounds for quantum companies totalled $138 million to $254 million a year from 2023 to 2025. Late-stage and listed firms took most of the rest.
What investors ask
- Why will you win against teams that raised hundreds of millions?
What your deck shows
- Your layer of the stack: full system, component or software
- Partners or customers among the funded leaders
Buyers still testing
Most companies use quantum in pilots and hybrid set-ups for now. A third of the large companies McKinsey studied spent over $10 million on it in 2025.
What investors ask
- Who pays you today, and what makes them pay again next year?
What your deck shows
- Revenue by buyer: agencies, labs, companies and cloud access
- Pilots that turned into repeat contracts
Strings on public money
The US government will take a stake in all nine companies in its 2026 quantum deals. NSF's small-business grants exclude firms majority-owned by several VC funds.
What investors ask
- What do your grants and contracts require, and what do they cost you in equity?
What your deck shows
- The cap table before and after any government stake
- Where the work must happen and who owns the IP
How we help you raise
Flat fees agreed before we start. No success fee on advisory work.
Your physics, roadmap and first buyers in one story investors can test.
Cash to each qubit or error-rate target, with grants and contracts built in.
Benchmarked against recent quantum rounds and listings.
Quantum funds, corporate investors and public programmes that fit your stage.
Benchmark data, patents and licences, filed for technical review.
For a sale to a larger quantum or computing group.
Our work also includes a €100M raise for a quantum processor maker and a VC fund with a quantum thesis. The public case below faced the same question: what must each round prove?
Who we are
Waveup is a London-based fundraising and growth advisory, working in 60+ countries and 90+ industries. Since 2014 we have built the decks, models, CIMs and valuations behind $3B+ raised for 600+ startups.
About usQuantum computing funding FAQ
How do quantum computing startups get funding?
Which quantum companies are receiving funding?
What is DARPA's Quantum Benchmarking Initiative?
Which grants and public programmes fund quantum startups?
What do quantum computing investors look for?
How much does help with a quantum computing raise cost?
Industries we work with
Deep Tech
- Deep Tech
- Quantum Computing
- Semiconductors
Related industries
Raising for a quantum computing company?
Share your roadmap and the round you're planning. We'll point out the questions quantum investors will ask first.
