Quantum computing, which has wide-ranging applications in optimization, research, and cryptography, is driven by these organizations:
- End-to-end solution providers
- Quantum hardware builders
- Software & services companies
- Research labs
- Companies that use quantum computers in their business (Not the focus of this article)
Quantum hardware is an emerging computing technology that relies on complex hardware. As in the early days of personal computing, there are companies specializing in hardware, software, and end-to-end solutions.
In the early days of computing, Apple built end-to-end solutions, while Microsoft specialized in software, and many OEMs and IBM (Original Equipment Manufacturers) specialized in hardware and services.
In addition to these, research labs (like the Bell Labs during the personal computing revolution) play an important role in driving research.
If you want to know what quantum computing is before we dive in, see our article on quantum computing.
Investment overview
The quantum computing industry experienced unprecedented investment growth in 2025, marking a critical inflection point from theoretical research to commercial deployment.
Key statistics:
- Quantum computing companies raised $3.77 billion in equity funding during the first nine months of 2025.
- This represents nearly 3x the $1.3 billion raised in all of 2024
- Two late-stage startups (PsiQuantum and Quantinuum) captured approximately half of all 2024 venture funding.
- European startups captured 47.5% of quantum venture funding in Q1 2025, up 16.5% from the previous year.
- Hardware development now dominates funding rounds, reversing the software-heavy pattern of 2023-2024.
- JPMorgan Chase announced a $10 billion strategic technology fund that specifically identifies quantum computing as a priority investment area.
Market projections:
- Global quantum computing market: $1.8-3.5 billion (2025) to $5.3-20.2 billion by 2029-2030 (CAGR 32.7-41.8%).
- McKinsey projects that quantum technologies could generate up to $97 billion in revenue worldwide by 2035, with quantum computing accounting for $72 billion.1
What are the different types of quantum computing companies?
Company | Valuation / Market Cap | Recent Funding (2025) | Technology |
|---|---|---|---|
Quantinuum | $10 billion | $600M (Sept 2025) | Trapped ions |
PsiQuantum | $7 billion | $1B Series E (Sept 2025) | Photonic |
IonQ | $24.5B market cap | $2B equity offering | Trapped ions |
Rigetti | $13B market cap | $35M Quanta partnership | Superconducting |
D-Wave | NYSE: QBTS | 3,700%+ stock surge | Quantum annealing |
QuEra | $230M+ raised | Feb 2025, Google/SoftBank | Neutral atoms |
Quantum Machines | $170M Series C | Feb 2025 | Control systems |
Classiq | $110M Series C | May 2025 | Software |
IQM | Undisclosed | $300M Series B | Superconducting |
Infleqtion | $1.8B (SPAC) | $540M merger | Neutral atoms |
End-to-end solution providers
Tech giants, IBM, Google, Microsoft, NVIDIA, and growing start-ups Rigetti and D-Wave can be considered end-to-end providers. These companies enable other companies to test quantum solutions on cloud.
- NVIDIA’s CUDA-Q Framework provides quantum-classical hybrid computing integration, enabling seamless GPU-QPU workflows. Partners include Alice & Bob, Anyon Computing, Atom Computing, Diraq, Infleqtion, IonQ, IQM, ORCA Computing, Oxford Quantum Circuits, Pasqal, Quandela, Quantinuum, Quantum Circuits Inc., Quantum Machines, Quantum Motion, QuEra, Rigetti, SEEQC, and Silicon Quantum Computing.2
- D-Wave is the first company to sell a quantum computer to an American defense company, Lockheed Martin.3
- IBM provides cloud access to test quantum algorithms developed with IBM-Q.
- Microsoft provides cloud quantum computing as Azure in collaboration with IONQ, Honeywell, and QEI.
- Google, Alibaba, D-Wave, and Rigetti provide end-to-end services.
- Amazon launched Braket in partnership with D-Wave, IonQ, and Rigetti.4
Hardware systems builders
Companies interested in quantum hardware often work to optimize quantum computers and create simulation environments. Tech giants offering end-to-end solutions are included here as well. The hardware side of quantum computing can be separated into two:
- Universal gate-based quantum computers (also called general-purpose quantum computers)
- Quantum Annealing.
Quantum computer providers
D-Wave, IBM, Alibaba, Intel, Rigetti, and Google are the main players for this sector. These companies are racing to produce the first commercially relevant quantum computer.
Quantum circuitry providers
QCI, Delft Circuits, BraneCell, Turing, and See QC are among the companies developing and commercializing superconducting quantum technologies.
Software & services companies
Another part that helps bring real-world solutions to quantum computing is quantum software providers. The main task of these companies is to develop solutions using quantum computing tailored to users’ needs.
Operating systems and firmware
Cambridge Quantum Computing and Q-ctrl work on improving the optimization of quantum hardware and provide solutions to access the quantum world with software
Development platforms
Companies in this category focus on creating programming algorithms and tools. Zapata, Anyon, Qb are among these companies.
Computational platforms
1Qbit and QCware aim to solve difficult industry problems using quantum-computing software techniques.
Research labs
There are numerous research laboratories founded by university-industry cooperation. Additionally, there are government-funded labs. Some of them are:
- Quantum Computing Laboratory – MIT Lincoln Laboratory
- Institute for Quantum Information and Matter – Caltech
- Chinese Academy of Sciences with Alibaba
- UK National Quantum Technologies Programme
- National Quantum Initiative Act – US House of Representatives
- Microsoft contributed research Labs at TU Delft, Niels Bohr Institute, University of Sydney, Purdue University, University of Maryland, ETH Zurich, UCSB
For more quantum computing
If you are interested in learning more about quantum computing, read:
Reference Links
Cem's work has been cited by leading global publications including Business Insider, Forbes, Washington Post, global firms like Deloitte, HPE and NGOs like World Economic Forum and supranational organizations like European Commission. You can see more reputable companies and resources that referenced AIMultiple.
Throughout his career, Cem served as a tech consultant, tech buyer and tech entrepreneur. He advised enterprises on their technology decisions at McKinsey & Company and Altman Solon for more than a decade. He also published a McKinsey report on digitalization.
He led technology strategy and procurement of a telco while reporting to the CEO. He has also led commercial growth of deep tech company Hypatos that reached a 7 digit annual recurring revenue and a 9 digit valuation from 0 within 2 years. Cem's work in Hypatos was covered by leading technology publications like TechCrunch and Business Insider.
Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.
Be the first to comment
Your email address will not be published. All fields are required.