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Diraq has secured $20 million from the National Reconstruction Fund (NRF) to support the development of its quantum computing systems, aiming to launch its first commercial product by early 2029. The funding will aid in integrating quantum chips into data centers, with a goal of deploying one million quantum bits by 2031.

Diraq is expanding its team by recruiting 10 to 15 additional staff and has operations in Sydney, Melbourne, and the US. The company, which employs over 70 staff and PhD students, is in advanced discussions with Australian data center operators to prototype its systems.

It has raised more than $100 million since its inception in 2022 and is working on various milestones, including testing advanced chips and software development. The NRF's investment underscores Australia's potential to lead in quantum computing innovation.