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Venture capital deployed · 2026 YTD
Sector market cap
Largest raise · trailing 12mo
Catalysts ahead · next 12mo
Companies tracked
Nothing on the calendar yet.
Mega-rounds dominate the last 12 months: Oratomic's $775M, SandboxAQ's $500M, Multiverse's $570M Series C and Quantinuum's $1.4B IPO. Seed and Series A rounds mostly sit between $10M and $50M, and Qilimanjaro's $22M Series A is typical. Median disclosed round size has climbed, though the mid-tier is hollowing out.
Capital is concentrating late. IPOs and growth rounds in 2026 include Quantinuum, Pasqal, Xanadu, Infleqtion and Multiverse, totaling well over $2B. Early-stage deals are fewer and smaller, and Australian government grants of $12M to Diraq and Silicon Quantum Computing show public money filling gaps at the seed level.
Fidelity, DCVC, Intel Capital and In-Q-Tel are active in 2026 deals, and Bpifrance and Planet First Partners appear repeatedly. Temasek, BlackRock and T. Rowe Price have backed multiple large rounds across years. Longtime early-stage backers like Main Sequence and Quantonation show up far less in the last 12 months.
Quantum computing’s hardware diversity is becoming a liability, not a strength.
Quantum computing’s hardware wars are overshadowing the quiet rise of a software moat.
Quantum computing’s error-correction arms race is masking a deeper tension: who actually pays for fault tolerance?
Quantum computing’s real competition isn’t classical hardware—it’s the rise of probabilistic computing as a near-term alternative.
As of 2026-08-01
Zapata Computing Holdings ceased operations in October 2024 after its board approved a wind-down plan. The company was unable to meet accelerated debt demands from Sandia Investment Management LP ($2.5M) and additional creditors (~$2.3M). A restructured successor entity, Zapata Quantum (OTC: ZPTA), emerged separately in late 2025 and completed a $15M financing in April 2026.