Equal1 raises $60M to boost scalable quantum computing

Irish quantum semiconductor company Equal1 has announced that it has raised USD 60 million to accelerate development of scalable, silicon-based quantum computers and deployment of its datacenter-ready Bell-1 quantum server.

The round was led by the Ireland Strategic Investment Fund (ISIF), with participation from Atlantic Bridge, the European Innovation Council Fund, Matterwave Ventures, Enterprise Ireland, Elkstone and TNO Ventures, Equal1 said in a press release.

Current quantum computers demand huge investment: custom fabrication, exotic cooling, specialist teams. Equal1 delivers a different model: quantum servers where cost, ease of deployment, power efficiency, and integration are first-order requirements.

Equal1 develops its quantum computers using today’s silicon semiconductor industry. This unlocks semiconductor economics: costs that fall with volume, yields that improve with iteration, the media release said.

“This USD 60 million in funding marks the transition of Equal1 from development to deployment,” said Jason Lynch, CEO of Equal1. “As AI pushes classical computing into power and cost limits, quantum is the way forward, but only if it can be manufactured and deployed like the rest of the stack. By building quantum processors on standard silicon, we’re turning quantum from bespoke hardware into deployable infrastructure — positioning Equal1 as the quantum standard for HPC.”

“Equal1 is already making its mark in silicon-based quantum technology and we look forward to working with Equal1 as it enters its next phase, helping to realise its vision for the advancement of quantum computing technology in Ireland,” said Brian O’Connor, Senior Investment Director at ISIF.

“This funding milestone is a significant step forward, enabling Equal1 to move from breakthrough innovation to commercialisation, and we are proud to continue supporting the team as they execute on this next phase of growth,” said Gerry Maguire, Board Director at Equal1 and General Partner at Atlantic Bridge. 

“Equal1’s approach — building on standard Complementary Metal-Oxide-Semiconductor (CMOS)-compatible semiconductor manufacturing — aligns directly with Europe’s semiconductor and quantum ambitions,” said Svetoslava Georgieva, Chair of the EIC Fund Board.  

“This investment directly reflects our strategic focus on supporting ambitious companies to scale globally and we look forward to working with Equal1 on their continued growth and scaling plans,” said Amanda Ward, Head of Digital Technologies at Enterprise Ireland.