Quantum computing startup Diraq has secured an AU$20 million ($14m) equity investment from the National Reconstruction Fund Corporation (NRFC), a fund established by the Australian government to support seven priority areas of the country’s economy.

The financing will help support Diraq’s aim of delivering a utility-scale quantum computer by 2029.

Founded in 2022 and headquartered in Sydney, Diraq builds quantum processors using silicon quantum dot technology. The company is aiming to build a full-stack quantum computer that moves the industry away from what it describes as "large, error-ridden systems" and towards fault-tolerant computing.

In November 2025, Diraq was one of 11 companies to advance to the second stage of the United States government’s Defense Advanced Research Projects Agency’s (DARPA) Quantum Benchmarking Initiative (QBI).

Commenting on investment, Diraq founder and CEO Andrew Dzurak said: “We are at a pivotal moment where years of breakthrough research is transitioning into a commercial reality that will redefine future computing. Australia has always been a quantum powerhouse in the lab and, with the NRFC’s backing, we are ensuring it becomes a quantum powerhouse in the market.”

NRFC CEO David Gall added: “Australia has the potential to lead the world in quantum computing, and Diraq’s groundbreaking combination of silicon-based qubits and tried and tested semiconductor architecture will revolutionize the industry. Diraq’s growth prospects are immense, and the company represents the exact kind of high-value, transformative manufacturing the NRFC was created to support.”