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Core Viewpoint - PsiQuantum, a quantum computing startup co-founded by the grandson of physicist Erwin Schrödinger, has raised $1 billion in a single funding round, setting a record for quantum computing startups. This funding aims to help the company build a million-qubit quantum computer by 2028, surpassing competitors like Google and IBM [10][11][12]. Company Overview - PsiQuantum was founded in 2016 with the goal of creating the first usable quantum computer. Initially based in the UK, the company relocated to Silicon Valley to better access funding [17][18]. - The company has established partnerships with major semiconductor manufacturers and has developed a new technology called Fusion-Based Quantum Computing (FBQC), which has been published in a leading scientific journal [21][22][24]. Funding and Growth - The recent $1 billion funding round was led by BlackRock, Temasek, and Baillie Gifford, marking a significant milestone in the quantum computing sector [10]. - PsiQuantum has secured various contracts, including a $22.5 million deal with the U.S. Air Force Research Laboratory and a $619 million order from the Australian government for a utility-scale quantum computer [27][29]. Technical Innovations - Unlike most quantum computers that use electrons or atoms, PsiQuantum's qubits are based on photons, allowing for easier integration with existing semiconductor manufacturing processes and operation at room temperature [32][33]. - The company has introduced the Omega chip set, designed for practical quantum computing, which includes components necessary for building a million-qubit quantum computer [36][38]. Leadership and Expertise - The founding team of PsiQuantum includes experts with strong academic backgrounds in quantum physics, such as CEO Jeremy O'Brien and CTO Mark Thompson, who have extensive experience in the field [43][44][55]. - The team is driven by a sense of social responsibility to bring quantum technology to fruition, reflecting their commitment to advancing the field [51][52].