NRF Trebles Silicon Quantum Stake With $40 Million as Australia Backs Chip Expansion
Updated
Updated · Startup Daily · Jun 11
NRF Trebles Silicon Quantum Stake With $40 Million as Australia Backs Chip Expansion
2 articles · Updated · Startup Daily · Jun 11
Summary
$40 million in new NRF funding will expand Silicon Quantum Computing’s quantum chip manufacturing, coming less than three months after the fund’s initial $20 million investment.
The latest injection lifts NRF backing to $60 million, while the federal government’s total holding in SQC is about one-third after roughly $40 million of earlier support.
SQC says its Sydney operation can design, produce and test new quantum chips in under a week, a speed the NRF argues gives it an edge in commercial-scale quantum computing.
The raise is part of a broader funding round for the 2017 UNSW spinout, which last raised a $50 million Series A in 2023 at a $195 million valuation.
The move also reinforces Australia’s domestic quantum push as the government’s separate $470 million bet on US rival PsiQuantum faces delays after shifting its project to Moreton Bay.
Can a homegrown startup outpace a US giant in the race to build Australia's first quantum computer?
Is Australia's billion-dollar quantum bet a masterstroke for sovereign capability or a risky industrial gamble?
SQC can build quantum chips with atomic precision, but can it translate this breakthrough into commercial success?
Australia’s $60M Bet on Silicon Quantum Computing: SQC’s Rapid Chip Iteration and Global Quantum Race
Overview
On June 11, 2026, the National Reconstruction Fund Corporation (NRFC) tripled its investment in Silicon Quantum Computing (SQC), raising its total stake to $60 million. This strong endorsement highlights NRFC’s confidence in SQC’s pioneering quantum technology and Australia’s leadership in the sector. SQC’s unique in-house manufacturing allows it to iterate faster and more accurately than competitors, paving the way for the fastest and most cost-effective route to a commercial-scale quantum computer. The new investment will accelerate SQC’s mission, supporting its rapid innovation and strengthening Australia’s position in the global quantum race.