Led by CEO Niccolo de Masi (appointed February 2025, formerly IonQ Chairman and CEO of Glu Mobile), IonQ is the largest publicly traded pure-play quantum company by market capitalisation. Q3 2025 revenue reached $39.9M, a 221% year-on-year increase, with full-year 2025 guidance of $106-110M. IonQ holds the world-record 99.99% two-qubit gate fidelity on its Tempo system (#AQ 64). IonQ executed roughly $2.5B in acquisitions across eighteen months, including Oxford Ionics ($1.075B), ID Quantique ($250M), Capella Space ($318M), Qubitekk, Lightsynq, Vector Atomic and Skyloom Global, transforming itself into a full-stack platform spanning computing, networking, sensing and space. The only quantum company in Deloitte’s 2025 Fast 500, with approximately 2,000% revenue growth from 2021 to 2024. Chapman testified before Congress in November 2025. The roadmap targets a cryptographically relevant quantum computer by 2028 using roughly 20,000 qubits, scaling to approximately two million by 2030. Recent deployments include the Geneva Quantum Network (partnering UNIGE, CERN and Rolex) and Slovakia’s first national quantum network via ID Quantique.

Led by CEO Rajeeb Hazra (succeeding founder Ilyas Khan, who remains Vice Chairman and Chief Product Officer), Quantinuum was formed from the merger of Cambridge Quantum and Honeywell Quantum Solutions in 2021. The H-Series processors consistently rank as the highest-performing quantum systems in the world. The H2 processor, a 56-qubit fully connected racetrack architecture, achieved a quantum volume of 2^25 (33.5 million) and became the first quantum computer to reach Microsoft’s Level 2 Resilient phase, producing logical qubits with error rates 800x lower than physical rates using just 30 physical qubits to create four logical qubits. Quantinuum raised $600M at a $10B valuation with NVentures participating, and has filed its S-1 for a public listing widely expected to value the company above $20B. A $1B joint venture with Qatar’s Al Rabban Capital and selection for DARPA QBI Stage B underline the company’s momentum, with the Helios processor due for deployment in Singapore in 2026. The software portfolio spans InQuanto for quantum chemistry, TKET for circuit compilation and Quantum Origin for cryptographic key generation.

Builds compact, rack-mountable trapped ion quantum computers designed for data centre integration from Innsbruck, Austria. CEO Thomas Monz. Co-founded by Rainer Blatt, Thomas Monz and Peter Zoller, drawing on decades of pioneering trapped ion research at the University of Innsbruck, one of the birthplaces of experimental quantum computing. Raised €12.5M in Series A led by Alps Ventures. Delivers systems to national computing centres including the Leibniz Supercomputing Centre in Germany. Pursuing a photonic interconnect architecture to network multiple ion trap modules into larger systems. Backed by the EU Quantum Flagship programme.

Won one of Germany’s Cyberagentur’s largest contracts (part of €35M total programme) under CEO Ferdinand Schmidt-Kaler to build maQue, a mobile trapped ion quantum computer for security and defence applications, targeting delivery by 2027. Spun out of Johannes Gutenberg University Mainz in 2022. Full-stack approach covering hardware development, software tools, consulting services and quantum computing time. The mobile quantum computer concept addresses a key defence requirement: battlefield and field-deployable quantum computing that can operate in tactical environments rather than fixed laboratory installations. Also developing quantum computing solutions for logistics and cryptanalysis applications.

Developing a unique trapped ion architecture using microwave-driven gates and electronic interconnects rather than lasers, designed for dramatically easier manufacturing and scaling. Based in Brighton, UK, co-founded by Chairman and Chief Scientist Professor Winfried Hensinger and CEO Dr Sebastian Weidt from the University of Sussex. Raised £67M+ in funding from investors including Mitsui and IP Group. Electronic quantum interconnect technology (UQConnect) connects multiple ion trap modules without the complex optical systems that limit other trapped ion approaches. Received significant UK government funding through the National Quantum Technologies Programme. Partnerships with Rolls-Royce for aerospace applications. Building toward a million-qubit system where modular scaling becomes essential.

Developed revolutionary electronic qubit control technology (EQCC) that replaces lasers with on-chip electronic signals for trapped ion gate operations. Co-founded by CEO Dr. Chris Sherland and Tom Sherland from the University of Oxford. Acquired by IonQ for $1.075B in equity, the largest quantum M&A transaction in history. The EQCC chip eliminates the optical tables, precision lasers and alignment systems that make conventional trapped ion systems difficult to scale and manufacture. By integrating qubit control electronics directly onto the trap chip using standard semiconductor processes, Oxford Ionics enabled IonQ to envision mass-manufacturing trapped ion processors at scale, a critical step toward commercially viable quantum computing.

Hannover-based company developing microwave-driven trapped ion quantum computers, spun out of Leibniz University Hannover. CEO Professor Christian Ospelkaus. Avoids individual laser addressing of ions by using magnetic field gradients and globally applied microwave pulses, a fundamentally simpler approach that eliminates the complex optical systems required by competitors. Founded by Christian Ospelkaus and collaborators. Raised €10M in seed funding. Won a major contract from Germany’s Cyberagentur. The laser-free design could prove critical for scaling: individual laser addressing becomes exponentially harder as qubit counts grow, while microwave control scales naturally through chip-level integration.

Spinout from the Okinawa Institute of Science and Technology (OIST) under CEO Dr. Manas Mukherjee, developing trapped ion quantum processors for Japan’s national quantum computing initiative. Draws on OIST’s leading atomic physics research, including advanced ion trap chip fabrication and high-fidelity gate operations. Funded under Japan’s ¥150B+ quantum technology investment programme. Japan currently trails the US, China and Europe in quantum hardware startups, making Qubitcore a strategically important player in building domestic quantum computing capability.

Chicago-based company under CEO Nick Farina pursuing one of the most unconventional qubit architectures in development: electrons floating on the surface of liquid helium. Each electron is trapped above the helium in a quantum state that can serve as a qubit, potentially offering extremely long coherence times because the helium surface is atomically smooth and free of defects that plague solid-state approaches. Founded by researchers from the University of Chicago and Argonne National Lab. Raised $7M+ in seed funding. Compatible with existing semiconductor manufacturing for control electronics. If the physics delivers on its promise, the approach could leapfrog conventional architectures in qubit quality.

CEO Andy Ory. Raised $230M in Series B led by Google and SoftBank, bringing total funding above $300M. Emerged from Harvard/MIT research led by Mikhail Lukin and Markus Greiner. The 256-qubit Aquila system is available on Amazon Braket. Uses rubidium atoms held by optical tweezers that can dynamically reconfigure connections mid-computation, enabling error correction codes impossible on fixed-connectivity architectures. Published breakthrough Nature paper demonstrating 48 entangled logical qubits. Roadmap targets 10,000+ qubits by 2028 with early fault tolerance. Established a UK subsidiary and signed a partnership with Wellcome Sanger Institute for genomics applications. DARPA QBI finalist.

Reportedly raising €200M at above $1B valuation, Pasqal was founded by collaborators of Nobel laureate Alain Aspect and has grown into one of Europe’s leading neutral atom quantum computing companies. The platform uses rubidium atoms arranged in configurable two- and three-dimensional arrays, pursuing both analogue simulation and digital gate-based computation on the same hardware. The QUBEC platform automates quantum chemistry workflows for industrial partners. Following its merger with quantum software company Qu & Co in 2022, Pasqal deployed systems to the GENCI and Julich high-performance computing centres and built partnerships with BASF, Johnson & Johnson, BMW, Credit Agricole and Thales.

Uses strontium atoms for potentially longer coherence times than the rubidium atoms used by most neutral atom competitors. Based in Berkeley, California, founded by CTO Dr. Ben Bloom (former JILA/NIST researcher, University of Colorado-Boulder PhD). CEO Rob Hays (former Intel VP and Lenovo Chief Strategy Officer) joined in 2021 to lead commercialisation. Raised $75M+ in venture funding. Partnered with Microsoft to demonstrate 24 entangled logical qubits, the largest such demonstration ever, now integrated into Azure Quantum as a commercial offering. The 1,225-site atom array demonstrated in 2023 was a landmark in scaling neutral atom systems. Strontium atoms offer nuclear spin qubits with coherence times exceeding seconds, and naturally occurring dual-species isotopes enable novel error correction approaches. DARPA Quantum Benchmarking Initiative participant.

Formerly ColdQuanta (founded by Dana Anderson, University of Colorado), rebranded in 2022 under CEO Scott Faris. Completed NYSE listing via $550M SPAC (ticker: INFQ). Headquartered in Boulder, Colorado with offices in Madison, Wisconsin and Oxford, UK. One of the broadest quantum platforms in the industry: computing, sensing and networking all built on cold atom technology. Products include atomic clocks delivering GPS-level timing without satellites, inertial sensors for GPS-denied navigation in contested environments, quantum RF receivers for electronic warfare signal detection, and scalable neutral atom quantum computing processors. Significant US government contracts across DARPA, DoD and intelligence community. Founded by Dana Anderson (University of Colorado). Total funding exceeds $200M including SPAC proceeds.

Munich-based spinout from the Max Planck Institute of Quantum Optics (MPQ). CEO Alexander Glaetzle. Co-founded by Johannes Zeiher, Alexander Glaetzle and Sebastian Blatt. Raised €50M in Series A led by European deep-tech investors. Uses neutral atoms in optical lattices rather than optical tweezers, a fundamentally different trapping approach from QuEra and Pasqal. Optical lattices can naturally hold thousands of atoms in regular arrays, potentially offering a faster path to massive qubit counts. Plans to deliver systems with 1,000+ qubits. Partners with the German Aerospace Center (DLR) and Fraunhofer. Sits within Germany’s quantum computing cluster alongside IQM, Eleqtron and Kiutra.

Developing neutral atom quantum computing systems under CEO Austin Mints, designed to slot into existing data centre infrastructure. Based in Plano, Texas. TMGcore’s background in immersion-cooled data centres gives them unique expertise in thermal management and rack-scale system design. The Atomica division combines this data centre engineering with neutral atom quantum processing, targeting enterprise and government customers who need quantum hardware that fits within their existing operational frameworks rather than requiring bespoke laboratory environments.

Building neutral atom quantum computing systems with a focus on practical commercial applications. Led by CEO Daniele Treppizzini. One of several companies betting on neutral atoms as the most scalable near-term path to large qubit counts, given that optical trapping can hold thousands of individual atoms in programmable arrays. The neutral atom modality has attracted significant venture capital in 2024-2025, with QuEra, Pasqal, Planqc and Infleqtion all raising major rounds, reflecting growing confidence that the technology can compete with superconducting and trapped ion approaches.

Preparing for public listing via Crane Harbour Acquisition Corp SPAC at ~$3.6B enterprise value, which would make it the first pure-play photonic quantum IPO. Toronto-based, founded by CEO Christian Weedbrook. The Aurora processor uses measurement-based photonic quantum computing with time-domain multiplexing, potentially scaling to millions of qubits on a single chip. PennyLane, its open-source quantum ML library, has become one of the most popular quantum software frameworks globally with thousands of active users. Partnerships with NVIDIA (PennyLane-Lightning GPU integration) and BMW (production optimisation). Published landmark results in Nature demonstrating photonic quantum advantage. Rolls-Royce/Riverlane/Xanadu consortium won £400K Innovate UK grant for quantum jet engine modelling.

Raised $2.1B+ total including $1B Series E (BlackRock-led, September 2025) at $7B valuation. Participants: Temasek, Baillie Gifford, NVentures, QIA, Morgan Stanley. Omega chipset (Nature, February 2025) manufactured at GlobalFoundries Fab 8 on 300mm wafers. Integrates single-photon sources, superconducting detectors, and BTO electro-optic switches with 99.72% chip-to-chip interconnect fidelity over 250m. Building datacenter-scale Quantum Compute Centers in Brisbane ($940M Australian government backing) and Chicago. Launched Construct software platform. Collaborations: Airbus, Lockheed Martin, Boehringer Ingelheim. DARPA QBI finalist. Victor Peng appointed Interim CEO (February 2026), Jeremy O’Brien moved to Executive Chairman.

Led by CEO Richard Murray, ORCA develops compact, room-temperature photonic quantum processors from London, eliminating the dilution refrigerators needed by superconducting and trapped ion competitors that operate at millikelvin temperatures. ORCA uses proprietary quantum memories to synchronise photon arrival times, solving a fundamental challenge in photonic quantum computing. Founded by Ian Walmsley (former Oxford Clarendon Professor) and colleagues, ORCA raised $37M in Series B and expanded its NVIDIA NVQLink partnership in November 2025 for real-time quantum-classical connectivity. The PT Series processors fit on a single optical table, and the company holds contracts with the UK Ministry of Defence. ORCA also acquired generative AI startup Rahko. Room-temperature operation dramatically reduces system cost, power consumption and physical footprint compared to cryogenic competitors.

French photonic company building deterministic single-photon sources based on semiconductor quantum dots under CEO Niccolo Somaschi, a critical component for photonic quantum computing. Based in Massy, near Paris. Founded in 2017 as a CNRS/C2N spinout. Raised €25M in Series A. Their quantum dot sources produce near-perfect single photons with world-leading indistinguishability (>99%), purity and brightness simultaneously. Provides MosaiQ, a full photonic quantum computing platform. Collaborating with OVHcloud for quantum cloud access. Photon quality directly determines computation fidelity; without reliable single-photon sources, photonic quantum computing cannot scale, making Quandela an essential supplier for every photonic quantum computing company.

Founded by Professor Benny Dayan (Weizmann Institute), led by CEO Gil Semo. Raised $50M in Series A from Dell Technologies Capital, Eclipse Ventures and others. Israeli startup developing scalable photon sources for photonic quantum computing using a novel approach that combines semiconductor quantum dots with photonic integrated circuits. Addresses the fundamental bottleneck of generating millions of on-demand, high-quality, indistinguishable single photons required for fault-tolerant photonic quantum computation. Founded by Professor Benny Dayan from the Weizmann Institute of Science. Their hybrid approach could enable photon source arrays integrated directly onto photonic chips at semiconductor manufacturing scale.

Italian company under CEO Fabio Sciarrino (Professor, Universita La Sapienza) developing room-temperature photonic quantum processors using qudits, higher-dimensional quantum states that go beyond binary qubits. While most quantum computers encode information in two-level systems (0 and 1), Rotonium uses photonic states with multiple levels (0, 1, 2, 3…), encoding exponentially more information per carrier. This could dramatically reduce the total photon count and component complexity needed for useful computations. Founded by researchers from the Universita degli Studi di Bari. Room-temperature operation eliminates cryogenic infrastructure costs. Based in Italy’s quantum technology sector, supported by national and EU funding programmes.

Raised $26M in seed funding under CEO Anant Anandkumar for AI-enhanced photonic accelerators, one of the largest quantum seed rounds globally. Combines quantum photonic technology with machine learning to build computing systems specifically optimised for AI inference and training workloads. The approach bridges quantum and classical computing by using photonic circuits that can perform matrix multiplications, the core mathematical operation in neural networks, at the speed of light with minimal energy consumption. Targets the massive and growing market for AI compute infrastructure where energy costs and latency are becoming critical bottlenecks.

Builds the largest commercially available universal photonic quantum processors from Enschede, Netherlands, under CEO Stefan Hengesbach, using silicon nitride waveguide technology. Founded from the University of Twente’s MESA+ nanofabrication facilities. Their 20-mode processor enables Gaussian boson sampling, linear optical quantum computing experiments and quantum simulation. Raised €6M in Series A led by PhotonDelta. Silicon nitride photonics offers low loss and high stability, critical for maintaining quantum coherence across complex optical circuits. Provides systems to research institutions and commercial partners across Europe, serving as a key hardware supplier for photonic quantum computing labs and companies.

Cambridge-based developer of quantum photonic networking components under CEO Carmen Palacios-Berraquero, including single-photon detectors and sources that operate at telecom wavelengths. Raised £8.5M in Series A. Spun out of the Cavendish Laboratory at the University of Cambridge. Technology enables quantum communications, distributed quantum computing and quantum networking between separate processors. Their single-photon detection technology achieves high efficiency at room temperature, eliminating the need for cryogenic cooling in the networking layer. Partners with BT and Toshiba. Member of the UK Quantum Communications Hub. Critical infrastructure for building quantum networks and ultimately the quantum internet.

The oldest pure-play quantum company (founded 1999) and first commercial supplier, led by CEO Dr. Alan Baratz. The Advantage2 processor exceeds 4,400 qubits with a Zephyr topology and 20-way connectivity, delivering 25,000x speedups on materials simulation benchmarks. FY 2024 bookings exceeded $23M, a 120% year-on-year increase, with roughly $304M in cash reserves. In January 2026 D-Wave completed its $550M acquisition of Quantum Circuits Inc., the Yale spinout co-founded by Rob Schoelkopf (inventor of the transmon qubit), making it the world’s first dual-platform quantum company spanning both annealing and gate-model architectures. QCI’s dual-rail qubits feature built-in error detection that converts noise into detectable erasure errors, and D-Wave plans to deliver an initial dual-rail gate-model system later in 2026 from a new R&D centre in New Haven. The stock surged more than 400% in twelve months.

Introduced Majorana 1 (February 2025) under quantum lead Krysta Svore, the first chip on a Topological Core using topoconductor materials. Topological qubits store information in the topology of the quantum state, naturally resistant to local perturbations. DARPA selected Microsoft for utility-scale development. Partnered with Atom Computing (24 entangled logical qubits, record) and Quantinuum (800x error reduction). June 2025: four-dimensional geometric codes for topological error correction. Azure Quantum provides cloud access to IonQ, Quantinuum, Rigetti, Atom Computing plus Q# tools. The longest-shot approach, but if it works, the path to millions of logical qubits shortens dramatically.

Delivered the first full-stack silicon CMOS quantum computer to the UK NQCC (September 2025) under CEO Dr. James Sheridan. Built on 300mm wafer process, integrating QPU, cryogenic control and dilution refrigerator into three server racks. Compatible with Qiskit and Cirq. October 2025: achieved single-shot spin readout within a standard 22nm IC. Demonstrates quantum processors can be mass-produced using conventional chip manufacturing.

Developing silicon spin qubits through its Tunnel Falls 12-qubit processor under quantum research lead Jim Clarke, manufactured on existing 300mm production fab lines at Intel’s Oregon facilities. Intel’s strategic bet: semiconductor manufacturing expertise built over five decades and $100B+ in fab infrastructure will prove decisive for quantum scaling. No startup can replicate Intel’s process control, yield optimisation and volume manufacturing capabilities. Also developing Horse Ridge cryogenic control electronics (fabricated on 22nm FinFET) that operate at 4K inside the cryostat, solving the wiring bottleneck. Quantum research led by Jim Clarke. Budget reportedly several hundred million dollars annually. The long game: if silicon spin qubits work at scale, Intel could manufacture them by the billion.

Sydney-based company developing CMOS quantum dot processors, CEO Professor Andrew Dzurak, spun out of UNSW research, a pioneer in silicon-based quantum computing. Raised A$130M+ in funding from Quantonation, CSIRO, Pegasus and others. Uses standard semiconductor manufacturing to fabricate silicon quantum dots, each trapping a single electron whose spin encodes a qubit. Demonstrated the first two-qubit logic gate in silicon (2015), a milestone in the field. Targets billions of qubits on a single chip using existing foundry infrastructure. Partnered with GlobalFoundries for fabrication. The argument: silicon qubits are the only approach that can exploit the $500B+ semiconductor industry’s manufacturing ecosystem.

Israeli startup under CEO Yonatan Cohen developing silicon-based quantum processors drawing on semiconductor fabrication expertise from the Technion. A bet that silicon spin qubits, manufactured using processes honed over decades in the classical chip industry, will ultimately win the scaling race to millions of qubits. Silicon spin qubits are the smallest qubit type (nanometre scale vs micrometre for superconducting), enabling far higher densities on a single chip. The challenge remains achieving consistently high gate fidelities across large arrays, but rapid progress across the field suggests solutions are within reach.

Vancouver-based company under CEO Dr. Paul Terry developing a unique hybrid architecture: silicon spin qubits linked via optical photons using T-centre defects in silicon. Founded by Chief Quantum Officer Dr. Stephanie Simmons (Simon Fraser University). Raised $140M from Microsoft, British Columbia Investment Management Corp and other major investors. Selected for DARPA QBI Stage B in November 2025 with its Entanglement First architecture, validating the approach as a plausible path to a utility-scale quantum computer by 2033. Over 150 employees across Canada, US and UK. The T-centre approach is natively compatible with telecom-wavelength fibre optics, enabling distributed quantum computing across existing data centre and telecommunications infrastructure without wavelength conversion. Microsoft partnership integrates Photonic into the Azure Quantum ecosystem.

Founded and led by CEO Professor Michelle Simmons (2018 Australian of the Year), developing precision atom qubits in silicon at UNSW Sydney. Uses scanning tunnelling microscope (STM) lithography to place individual phosphorus atoms in silicon with atomic precision, creating the world’s most precisely engineered qubits. Advanced to DARPA QBI Stage B alongside only 10 other companies globally. Backed by Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO), Telstra, Commonwealth Bank of Australia and the Australian and New South Wales governments. Demonstrated the first integrated circuit manufactured at the atomic scale. The approach offers extremely long coherence times because phosphorus donor spins in isotopically purified silicon-28 are among the most stable qubit platforms known to physics.

Paris-based hardware company under CEO Pierre Desjardins developing quantum processors built from isotopically purified carbon-12 nanotubes, an ultra-clean material that minimises qubit decoherence. Spun out of the Physics Laboratory of the École Normale Supérieure, co-founded by twin brothers Pierre and Matthieu Desjardins (CTO). Raised €29M+ including €18M pre-Series A (2024) from Varsity Capital, EIC Fund, Verve Ventures, 360 Capital and Bpifrance. Operates an 800m² Quantum Fab in central Paris with cleanroom, cryostats and full-stack control for in-house processor fabrication. Carbon nanotubes suspended above silicon chips achieve record coherence times for solid-state spin qubits, validated in Nature Communications. Callisto quantum emulator available for algorithm development. 45 employees across 18 nationalities.

Building diamond-based quantum processors that operate at room temperature under CEO Mark Luo, eliminating the need for dilution refrigerators, vacuum systems and complex laser setups. Nitrogen-vacancy (NV) centres in synthetic diamond serve as qubits, exploiting diamond’s extreme rigidity to suppress thermal decoherence naturally. Raised $40M+ including $20M Series A (2025). QB-QDK2.0 hybrid systems deployed at Oak Ridge National Laboratory (three units for molecular simulation research) and Fraunhofer IAF (Europe’s first room-temperature quantum accelerator, May 2025). Selected for Germany’s Cyberagency €35M portable quantum programme alongside ParityQC, targeting a transportable quantum computer for defence by 2027. Partnering with imec to integrate diamond into standard semiconductor fabrication. Offices in Canberra, Stuttgart and Tokyo. Roadmap targets 25-100 qubits on chip by 2026-2027 and lunchbox-scale fault-tolerant systems by the mid-2030s.

Tokyo-based quantum software company (formerly Quantum Native Systems) developing quantum computing algorithms for chemistry and materials science applications. Raised $29.7M from Global Brain, JIC Venture Growth, Mitsubishi Electric, Zeon Corporation and others. Collaborating with Osaka University and Fujitsu on quantum application development for Japan’s national quantum programme. QURI Parts library provides modular quantum algorithm components for variational quantum eigensolvers and molecular simulation. Japan’s leading quantum software company, connecting quantum hardware developed by Fujitsu/RIKEN with industrial chemistry applications.

Quantum algorithms company under CEO Ashley Montanaro (Professor, University of Bristol) developing hardware-agnostic algorithms that extract useful results from today’s noisy quantum hardware rather than waiting for fault-tolerant machines. Raised $50M+ including $34M Series B (September 2025) co-led by Plural, Playground Global and Novo Holdings’ Quantum Fund (its first direct quantum software investment). Co-founded by Professors Toby Cubitt (UCL) and John Morton alongside Montanaro. Partnered with Google Quantum AI, IBM, Quantinuum and QuEra on hardware, and Johnson Matthey, Oxford PV, BT and the UK National Energy System Operator on industrial applications. Hired Goldman Sachs’ former head of quantum computing Nikitas Stamatopoulos (October 2025). Targeting scientifically important quantum computations by spring 2026. XPRIZE Quantum Applications finalist.

Hybrid quantum-classical technology company under founder and CEO Markus Pflitsch providing Quantum-as-a-Service (QaaS) across algorithms, security and computing. Raised $85.9M from Lakestar and Investcorp in one of Europe’s largest quantum rounds. TQ42 platform offers quantum-enhanced machine learning (QAI Hub), optimisation (TQOptimaX) and quantum key distribution over existing fibre infrastructure. Over 200 employees across Switzerland and Germany. Collaborated with NVIDIA on hybrid quantum computing and BBVA on quantum-inspired financial methods. Acquired divis intelligent solutions for classical optimisation expertise. Developing its own quantum hardware alongside the software platform, forming a vertically integrated European quantum player.

Karlsruhe-based quantum algorithm and compilation company developing hardware-aware quantum algorithms that maximise the performance of near-term quantum processors. Raised €10.5M in Series A (2024) led by QuantonaTion and HV Capital. Co-founded by CEO Daniel Volz and Enrique Solano (quantum physicist). Algorithms achieve dramatic circuit depth reductions, enabling useful computations on today’s limited hardware. Partnered with IQM, Pasqal, Quantinuum and IBM on hardware integration. Applications target chemistry, logistics and finance. Based in Germany alongside Planqc and HQS Quantum Simulations.

Karlsruhe-based quantum software company under CEO Michael Marthaler developing simulation software for predicting molecular properties, targeting specialty chemicals, pharmaceuticals and materials science. Raised $19.8M from UVC Partners, TRUMPF Venture, HTGF and the European Innovation Council. HQSpectrum product line provides ready-to-run quantum workflows for NMR spectroscopy, with Hamiltonians for organic molecules enabling efficient mapping to qubits. Collaborating with Merck and Fraunhofer on quantum chemistry applications. Developed a specialised compiler for the QRydDemo neutral-atom quantum computer at the University of Stuttgart. Based in the Karlsruhe quantum cluster alongside Kipu Quantum and the Karlsruhe Institute of Technology.

Innsbruck-based quantum architecture company developing the ParityQC operating system that maps optimisation problems onto quantum hardware with a uniquely scalable encoding. Founded by Professors Wolfgang Lechner and Philipp Hauke from the University of Innsbruck. The ParityQC Architecture reduces hardware connectivity requirements, enabling problems to be solved on nearest-neighbour-connected qubits rather than requiring full all-to-all connectivity. Selected alongside Quantum Brilliance for Germany’s Cyberagency €35M portable quantum programme. Partnered with Planqc, IQM and multiple European research institutions. XPRIZE Quantum Applications finalist.

Strasbourg-based quantum software company developing MIMIQ, a high-performance quantum circuit simulator that accurately models noise and errors in real quantum hardware. Enables researchers and enterprises to test quantum algorithms at scale before running on expensive quantum processors. Simulates circuits with full density matrix methods for high-fidelity noise modelling. Joins French quantum companies Quandela, Alice and Bob and C12 Quantum Electronics.

Cloud access to quantum hardware through Amazon Braket, integrating QuEra, IQM, Rigetti and others. Maintains its own Center for Quantum Computing in Pasadena developing superconducting processors. Braket is one of the primary enterprise gateways to quantum computing. Investing in quantum networking research and hybrid quantum-classical algorithms. Peter DeSantis now oversees AI, custom silicon and quantum computing.

Default infrastructure backbone for quantum R&D worldwide, under CEO Jensen Huang. CUDA-Q provides hybrid quantum-classical programming, cuQuantum accelerates circuit simulation on GPUs (up to 10,000x speedup), and DGX Quantum integrates QPUs directly with GPU clusters. Opened the NVAQC research centre in Boston (September 2025) focused on hybrid algorithms for drug discovery, materials science and optimisation. NVentures invested in Quantinuum, PsiQuantum, SandboxAQ and IonQ. NVQLink partnerships expanded with OQC and Orca Computing for real-time GPU-QPU connectivity. CEO Jensen Huang has championed quantum computing at keynotes and GTC conferences. Positioned to capture value regardless of which hardware modality wins, replicating the platform strategy that made NVIDIA the essential infrastructure provider in AI.

Majority stakeholder (~54%) in Quantinuum, under CEO Vimal Kapur, the world’s highest-performing quantum computing company. Honeywell’s precision engineering and advanced manufacturing capabilities underpin the H-Series trapped ion hardware. Kapur has publicly stated that a Quantinuum public listing is a strong option. Honeywell plans to separate into three public companies by 2026, which could accelerate the Quantinuum IPO timeline. Honeywell Ventures has also invested in other quantum companies. The Quantinuum stake represents potentially tens of billions in value at current implied valuations, making it one of the most significant quantum assets held by any public company.

The most active aerospace company in quantum technology adoption, under CEO Guillaume Faury. Launched a global Quantum Computing Challenge in 2024 attracting 420+ teams from 45 countries, and Airbus Ventures has invested in IonQ, Q-CTRL, QC Ware, PsiQuantum and other quantum startups. Airbus does not build quantum hardware but is among the most sophisticated enterprise users, exploring applications in computational fluid dynamics for aircraft design, advanced materials simulation, supply chain optimisation across its global manufacturing network and quantum-safe communications for defence platforms. A dedicated quantum applications team within Airbus Defence and Space benchmarks near-term use cases across multiple hardware providers, positioning Airbus to deploy quantum solutions commercially as the technology matures.

Operates the Accenture Quantum Lab (established 2017 under CEO Julie Sweet), providing end-to-end quantum strategy, implementation and managed services. Identified 150+ promising quantum computing use cases across pharmaceuticals, finance, logistics, energy and materials science. Helps Fortune 500 clients assess quantum readiness, build proof-of-concept applications and develop quantum talent pipelines. Partnered with IonQ for quantum ML applications and with multiple hardware providers. Published extensive research on quantum computing business impact timelines. As the largest professional services firm engaged in quantum, Accenture is a significant channel through which enterprise clients first encounter and evaluate quantum computing.

An early pharmaceutical mover that established a dedicated team for quantum computing applications (2021) under CEO Hubertus von Baumbach, focused on using quantum hardware from partners for molecular simulation and drug discovery. Boehringer partners with Google Quantum AI for computational chemistry and with IBM Quantum for molecular dynamics simulation, rather than building quantum systems itself. The pharmaceutical industry spends $2.6B on average to bring a single drug to market, and even modest quantum speedups in molecular screening could save hundreds of millions per drug and years of development time. Boehringer’s early commitment to building internal quantum expertise and embedding quantum scientists within its drug discovery pipeline positions the company ahead of pharma competitors in adopting quantum-enabled workflows as hardware matures.

One of Europe’s largest IT consultancies under CEO Aiman Ezzat, helping enterprise clients evaluate and adopt quantum computing through its dedicated Quantum Lab. Capgemini builds proof-of-concept applications for clients in automotive, energy, financial services and aerospace using hardware from IBM Quantum, Pasqal and other providers, acting as a systems integrator rather than a quantum technology developer. Published the Capgemini Quantum Computing Report assessing enterprise readiness across industries. Over 200 quantum-trained consultants globally. One of several professional services firms now connecting quantum technology providers with business end users who lack in-house quantum expertise.

Japan’s largest IT services company (¥3.7T revenue) under CEO Takahito Tokita, partnering with RIKEN on superconducting quantum hardware. Developed a 256-qubit processor in April 2025 using scalable 3D unit cell architecture, quadrupling the previous 64-qubit system. A 1,000-qubit system is scheduled for installation at Fujitsu Technology Park in 2026, with a 10,000+ qubit target by 2030. Also exploring diamond spin qubits as an alternative approach, achieving sub-0.1% error rates in March 2025. Hybrid quantum computing platform available globally. Signed a dual-use technology MOU with Lockheed Martin in February 2026 spanning quantum, AI and edge computing. Co-designing FugakuNEXT supercomputer with RIKEN and NVIDIA to integrate quantum-HPC workflows.

Global electronics conglomerate with quantum activities spanning investment, hardware and security. Samsung Catalyst Fund co-led IonQ’s $55M round alongside Mubadala and has invested in multiple quantum startups. Developed the S3SSE2A chip, the first mobile semiconductor with hardware-level post-quantum cryptography. Knox Matrix integrates PQC-based Enhanced Data Protection into Galaxy devices, with the Galaxy S25 series the first smartphones to support quantum-safe cloud backups. Partnered with ID Quantique and SK Telecom on Galaxy Quantum phones embedding QRNG chips. Also conducting quantum battery and materials research with Honeywell and Imperial College London.

The most active financial institution adopting quantum computing globally, with a Global Technology Applied Research (GTAR) team now led by Rob Otter (formerly State Street) that partners with quantum companies rather than building its own hardware. In March 2025, JPMorgan co-authored a landmark Nature paper with Quantinuum demonstrating Certified Randomness, the first real-world commercial application of a quantum computer. The bank has also demonstrated theoretical quantum speedup with QAOA alongside Argonne National Laboratory. An investor in Quantinuum’s $300M equity round and member of the DOE’s Q-NEXT consortium, JPMorgan’s $17B annual technology spend funds a dedicated team exploring quantum algorithms for portfolio optimisation, option pricing, risk analysis and fraud detection across hardware from multiple providers.

The world’s largest defence contractor ($67B revenue) and one of the earliest enterprise adopters of quantum computing, under CTO Craig Martell. Lockheed Martin purchased one of D-Wave’s first commercial systems in 2011 for NASA’s Ames Research Center, making it a quantum pioneer on the customer side rather than as a hardware developer. Lockheed partners with quantum startups and national labs to explore sensing for GPS-denied navigation, quantum-safe communications for military networks and PQC migration across classified systems. Signed a partnership with PsiQuantum on quantum-enhanced simulation and a dual-use technology MOU with Fujitsu in February 2026 covering quantum computing, AI and advanced microelectronics. Target applications include logistics optimisation, radar signal processing and materials discovery for next-generation aerospace platforms.

Major Wall Street bank and one of the most active financial institutions exploring quantum computing applications, partnering with quantum startups rather than building its own hardware. Goldman works with QC Ware on quantum Monte Carlo methods for derivatives pricing and with AWS through Amazon Braket on quantum algorithms for risk management and portfolio optimisation. Former head of quantum computing Nikitas Stamatopoulos joined UK quantum software startup Phasecraft in October 2025, reflecting the competitive talent market between finance and quantum startups. Goldman has published influential papers on quantum amplitude estimation for option pricing, positioning the firm to be an early adopter once fault-tolerant hardware arrives.

Major European IT services company (now operating quantum under the Eviden brand) providing quantum computing simulation, consulting and hybrid integration services. The Quantum Learning Machine (QLM) is one of the world’s most powerful quantum simulators, capable of emulating up to 41 qubits and used by research institutions and enterprises across Europe. Provides quantum application development through the myQLM open-source framework. Active participant in EuroHPC quantum computing initiatives. Consulting practice helps enterprises assess quantum readiness and develop use-case roadmaps. Following the Atos Group restructuring, Eviden positions quantum as a core pillar alongside cybersecurity and advanced computing.

Major European defence and technology group (€18B+ revenue) with dedicated quantum activities across cryptography, communications and sensing under CEO Patrice Caine. Develops quantum key distribution solutions and PQC implementations for military and government networks. Contributing to the EuroQCI initiative building Europe’s quantum communication infrastructure. Quantum sensing research targets submarine detection, inertial navigation and gravity mapping for defence applications. Thales’s role as a trusted security provider to NATO governments positions it as a critical player in the transition to quantum-safe defence infrastructure across Europe.

An early enterprise adopter of quantum computing, with dedicated application teams since 2016 that use hardware from quantum startups and tech giants rather than building its own. Volkswagen ran quantum traffic optimisation prototypes in Lisbon and Barcelona on D-Wave systems, routing city buses in real time, and explores quantum approaches to battery chemistry simulation for electric vehicles and paint shop scheduling optimisation using hardware from Google, IBM, D-Wave and Xanadu. Volkswagen’s early investment in quantum expertise and use-case development positions it to deploy quantum solutions commercially as hardware matures, with automotive supply chain optimisation and materials discovery as primary targets.

Japan’s largest telecommunications group with extensive quantum networking and computing research. NTT Research operates dedicated quantum laboratories in Silicon Valley and Japan. Developing the IOWN (Innovative Optical and Wireless Network) initiative integrating quantum communications into next-generation telecom infrastructure. Partnered with the University of Tokyo on quantum key distribution networks. Also researching coherent Ising machines for combinatorial optimisation, achieving thousands of coupled optical parametric oscillators. Contributes to Japan’s national quantum strategy alongside Fujitsu, RIKEN and the University of Tokyo.

South Korea’s largest mobile operator with a dedicated quantum technology division. Strategic investor in ID Quantique and co-developer of the Samsung Galaxy Quantum phone series embedding QRNG chips for hardware-level security. Building quantum key distribution networks across South Korean government and financial infrastructure. Developing quantum-safe 5G/6G network security. Operates alongside Samsung and the Korea Institute of Science and Technology (KIST) in South Korea’s national quantum programme. Positioning South Korea as an Asian quantum communications leader alongside China and Japan.

UK’s largest telecommunications company with a dedicated quantum research team at Adastral Park, Suffolk. Operating one of the UK’s most advanced quantum key distribution trial networks, demonstrating secure communications over existing BT fibre infrastructure. Partnered with Toshiba on QKD deployment and with Phasecraft on quantum algorithms for network optimisation. Active participant in the UK Quantum Network (UKQN) and broader national quantum strategy. Exploring quantum computing applications for network planning, traffic optimisation and cybersecurity. BT’s fibre network positions it as critical infrastructure for future quantum internet deployment across Britain.

Major US defence and aerospace contractor ($40B+ revenue) with quantum activities spanning sensing, computing and cryptography. Developing quantum inertial navigation sensors for GPS-denied military environments and quantum magnetometers for submarine detection. Significant investment in post-quantum cryptography migration across classified systems. Early collaborator with D-Wave on quantum optimisation. Quantum research spans the Northrop Grumman Mission Systems division and dedicated laboratories. Defence applications include radar signal processing, electronic warfare and autonomous systems where quantum sensing provides tactical advantages.

UK’s largest defence contractor with dedicated quantum technology programmes across sensing, communications and computing. Developing cold-atom quantum inertial navigation systems for submarines and aircraft operating in GPS-denied environments. Active in the UK Ministry of Defence quantum technology programme. Investing in quantum gravity sensors for detecting underground infrastructure and tunnels. Partnered with UK quantum startups including Orca Computing and Riverlane. BAE’s position as prime contractor for UK nuclear submarines and Typhoon fighter jets makes quantum sensing integration a strategic priority for maintaining military technology leadership.

Global networking leader ($57B+ revenue) developing quantum networking software under quantum research head Reza Nejabati. Invested in Qunnect through Cisco Investments and co-demonstrated record-breaking entanglement swapping over commercial fibre in New York (February 2026), with Cisco’s orchestration software acting as a digital air traffic controller for the metro-scale quantum network. Working with IBM on distributed quantum computing networks linking fault-tolerant systems over long distances. Quantum networking vision positions Cisco’s software stack as the control plane for the future quantum internet, mirroring its dominance in classical networking.

Europe’s largest telecommunications company with active quantum research through T-Labs in Berlin. In February 2026, demonstrated quantum teleportation over 30km of live commercial Berlin fibre running alongside classical internet traffic, using Qunnect’s Carina platform, achieving 90% average accuracy. This proved quantum and classical data can coexist on the same fibre infrastructure, critical for cost-effective quantum network deployment. Contributing to the EuroQCI initiative for European quantum communication infrastructure. Positioned to become a primary carrier for quantum internet services across Europe.

Chinese technology conglomerate that established a dedicated quantum computing laboratory within DAMO Academy (2017), investing $15B+ in frontier technology research. Developed superconducting quantum processors and quantum cloud services. Partnered with the Chinese Academy of Sciences on quantum computing research. While Alibaba reportedly scaled back its dedicated quantum hardware team in late 2023, it continues quantum software and cloud platform development. Alibaba Cloud offers quantum computing resources to enterprise customers across China, complementing Chinese quantum companies Origin Quantum, QuantumCTek and Baidu.

Chinese internet giant that developed Qian Shi, a 10-qubit superconducting quantum computer, and the Liang Xi 36-qubit processor (2022) through its Quantum Computing Institute. Created the Paddle Quantum machine learning framework and Quantum Leaf cloud platform. While Baidu donated its quantum hardware and laboratory to the Beijing Academy of Quantum Information Sciences in early 2024, it continues to develop quantum software and algorithms. The Paddle Quantum framework remains actively maintained as open-source software for quantum machine learning research.

Major US defence and aerospace conglomerate ($69B revenue) with quantum activities spanning sensing, radar and cryptography through Raytheon BBN Technologies. BBN has deep roots in quantum information science, having operated DARPA’s first quantum network testbed and published foundational quantum networking research. Developing quantum-enhanced radar and electronic warfare capabilities. Active in post-quantum cryptography migration across military communications systems. BBN’s quantum networking expertise, combined with Raytheon’s sensor and communications integration capabilities, positions RTX as a key defence quantum contractor.

Oxford-based quantum random number generator company developing the world’s first source-device-independent QRNG, which provides certified randomness without trusting the internal components of the device. Spun out of the University of Oxford’s Department of Physics. DISC (Device-Independent Self-Certifying) technology continuously verifies that the output is genuinely quantum random in real time, a critical advantage over conventional QRNGs that require users to trust the hardware. Applications span cybersecurity, gaming, financial services and Monte Carlo simulations. Based in Oxford’s quantum cluster alongside Oxford Ionics, Oxford Quantum Circuits and Quantum Motion.

Paris-based post-quantum cryptography company providing enterprise migration tools for transitioning from vulnerable classical cryptography to quantum-safe algorithms. Develops the C-QAR (Crypto Agility and Remediation) platform that audits, tests and migrates cryptographic assets across enterprise IT infrastructure. Founded by researchers from Sorbonne University. Working with ANSSI (France’s national cybersecurity agency) on PQC standardisation. The crypto-agility approach allows organisations to swap cryptographic algorithms without redesigning entire systems, essential for the NIST PQC transition affecting every organisation handling encrypted data.

Market leader in dilution refrigerators under CEO Rob Blaauwgeers, headquartered in Helsinki, Finland. Founded in 2008 from the Low Temperature Laboratory at Aalto University. Virtually every superconducting quantum computer in the world relies on Bluefors cryogenics to reach millikelvin operating temperatures. Systems range from compact research units to the KIDE platform for large-scale commercial deployment, capable of cooling processors with thousands of qubits. Revenue exceeds €100M annually, making Bluefors one of the most financially successful companies in the quantum supply chain. Customers include IBM, Google, IQM, OQC, Rigetti and virtually every university quantum lab globally. Over 1,000 systems installed. Critical chokepoint: Bluefors manufacturing capacity directly influences how fast the superconducting quantum industry can scale.

Developed the OPX+ quantum orchestration platform used by major hardware companies and research institutions worldwide. Based in Tel Aviv, founded by CEO Itamar Sivan, CTO Yonatan Cohen and Nissim Ofek. Raised $83M in funding from investors including Samsung, Claridge Israel and TLV Partners. Purpose-built classical processors execute real-time feedback loops within 100 nanoseconds, fast enough for quantum error correction cycles. QOP provides unified software for experiment design, calibration and execution across hardware platforms. Over 300 systems deployed. Acquired QM Technologies for cloud-based quantum infrastructure. The control plane is quantum computing’s hidden bottleneck: without fast enough classical feedback, error correction cannot work, making Quantum Machines’ technology essential for the transition to fault tolerance.

Manufactures cryogenic HEMT amplifiers (High Electron Mobility Transistor) operating at 4 Kelvin for quantum computing readout chains, under CEO Fawad Maqbool. Based in Bohemia, New York. Delivered cryogenic amplifier units to Fortune 50 technology companies in December 2024. Also manufactures 5G/mmWave infrastructure amplifiers and acquired Spectrum Semiconductor Materials for satellite communications components. Every superconducting quantum computer requires cryogenic amplification in its measurement chain, and AmpliTech is one of only a handful of companies globally manufacturing these specialised components at commercial scale. Revenue diversified across quantum, 5G and space.

Swiss manufacturer of quantum computing control systems under CEO Sadik Hafizovic, lock-in amplifiers, signal generators and analysers used by leading hardware companies and research labs worldwide. The SHFQC instrument provides multi-channel qubit control and readout in a single box, specifically designed for scaling superconducting quantum processors. The GHFLI high-frequency lock-in covers DC to 8 GHz. Acquired by Rohde & Schwarz in 2021, gaining access to a global sales and support network. Products installed in hundreds of quantum research laboratories globally. Essential test and measurement infrastructure: virtually every superconducting quantum experiment requires precision microwave control and readout that Zurich Instruments provides.

Builds scalable qubit control electronics from Delft, Netherlands, under CEO Niels Bultink, designed specifically for large-scale quantum computers. Founded in 2018 from QuTech (TU Delft/TNO). Raised €28M in Series A led by EQT Ventures and Invest-NL. The Cluster system uses a modular architecture that scales from a handful of qubits to hundreds, addressing the control electronics bottleneck that becomes critical as processor sizes grow beyond what bench-top instruments can manage. Each module provides 20 channels of qubit control. Clients include Intel, QuTech, Rigetti and major research institutions. Focused entirely on solving the control plane scaling challenge, one of the least glamorous but most critical problems in quantum computing.

Major US test and measurement company under CEO Satish Dhanasekaran developing quantum computing control electronics and characterisation tools. Annual revenue $5B+. The Quantum Engineering Toolkit provides integrated solutions for qubit characterisation, control pulse optimisation and cryogenic signal chain analysis. Partnered with IonQ, IQM, Rigetti and national labs. Brings decades of RF and microwave engineering expertise to the quantum control challenge. The quantum computing division builds on Keysight’s existing product lines in high-speed AWGs, digitisers and network analysers, adapted for the extreme precision and bandwidth requirements of qubit control and readout.

Munich-based manufacturer of cryogen-free cooling systems under CEO Dr. Alexander Regnat using adiabatic demagnetisation refrigeration (ADR). Raised €13M in Series A-2 co-led by 55 North and Bayern Kapital. Spun out of the Technical University of Munich. Systems do not require liquid helium, addressing a critical supply chain vulnerability, as global helium shortages have periodically disrupted quantum research and driven prices to record highs. Kiutra’s Magnetic Cooling Platforms reach temperatures below 50 millikelvin without any cryogenic liquids. Clients include quantum computing companies, space agencies and superconductor research labs. The helium-free approach is particularly attractive for quantum deployments outside major research centres where helium supply logistics are challenging.

Finnish company under CEO Visa Vesterinen, spun out of VTT Technical Research Centre of Finland, manufacturing near-quantum-limited superconducting microwave amplifiers. These amplifiers operate at millikelvin temperatures inside dilution refrigerators and add the absolute minimum noise allowed by quantum mechanics when amplifying qubit readout signals. Products include travelling wave parametric amplifiers (TWPAs) and Josephson parametric amplifiers (JPAs). Clients include Google, IBM, IQM and major quantum research labs. Essential component: the fidelity of qubit measurement directly depends on amplifier noise performance, making Arctic Instruments a critical supplier in the quantum computing supply chain.

Produces cryogenic low-noise amplifiers from Gothenburg, Sweden, under CEO Joel Schleeh, serving quantum computing and radio astronomy markets. Products include HEMT (High Electron Mobility Transistor) amplifiers operating at 4 Kelvin that achieve noise temperatures approaching quantum limits. Founded from Chalmers University of Technology research. LNF amplifiers are installed in quantum computing labs worldwide, typically placed at the 4K stage of dilution refrigerators as the first amplification stage in the qubit readout chain. Also supplies amplifiers to the world’s largest radio telescopes. The dual quantum/astronomy market provides revenue diversification while the company benefits from shared cryogenic RF engineering expertise.

Manufactures superconducting magnet systems from Oak Ridge, Tennessee, under CEO Phil Derouin, serving scientific research since 1968. Provides precision magnetic field environments required for various qubit technologies including trapped ions, NV centres in diamond, and spin qubits. Products range from compact cryogen-free magnets to large-bore research systems. Over 50 years of experience in superconducting magnet design and manufacturing. Proximity to Oak Ridge National Laboratory provides close collaboration with one of the world’s leading quantum computing research centres. Also serves MRI, particle physics, fusion energy and materials science markets, providing revenue stability while the quantum market scales.

Polish manufacturer of advanced electronics for quantum systems under CEO Grzegorz Brona, space and microsatellites, listed on the Warsaw Stock Exchange (CRI). Provides precision control and measurement electronics used in quantum computing research across European laboratories. Also manufactures microsatellite platforms and space instrumentation for ESA. Headquarters in Warsaw with clean room facilities. Revenue growing rapidly from space and quantum contracts. Based in Poland’s deep-tech manufacturing sector alongside ResQuant. The dual space/quantum capability transfers directly to precision electronics design, as both domains require extreme reliability, radiation hardness and signal integrity.

Major US semiconductor company under CEO Vincent Roche (NASDAQ: ADI, $12B+ revenue) developing signal processing and control electronics applicable to quantum computing. Provides precision data converters, signal generators and RF components used in quantum processor control and readout systems. Collaborated with Microsoft on cryogenic control electronics research. Analog Devices’ expertise in mixed-signal chip design at extreme performance levels maps directly onto quantum computing’s need for ultra-precise, low-noise signal chains. As quantum processors scale, the demand for integrated control electronics will grow from thousands to millions of channels, creating a significant addressable market for ADI.

Manufactures cryogenic flexible cabling (Cri/oFlex) under CEO Sal Bosman, specifically designed for quantum computing applications. Spun out of TU Delft. The Cri/oFlex product line replaces bulky coaxial cable bundles with thin, flexible superconducting ribbon cables that dramatically reduce thermal load and physical space inside dilution refrigerators. As quantum processors scale from dozens to thousands of qubits, the wiring bottleneck becomes critical: current systems require one or more coaxial cables per qubit, and traditional cables simply cannot fit. Delft Circuits addresses this by enabling high-density signal routing at millikelvin temperatures. Neighbours QuantWare, Qblox, QphoX and Orange Quantum Systems in the Delft quantum cluster.

Automated calibration and benchmarking software for quantum computers under CEO Thorsten Last, spun out of QuTech at TU Delft. Their Quantify platform automates the complex, time-consuming process of characterising and calibrating quantum processors, reducing days of manual work to hours. Partnered with QuantWare and Qblox to build integrated full-stack superconducting quantum computing systems for QuTech’s Quantum Inspire cloud platform. As quantum computers grow larger, automated calibration becomes essential: manually tuning thousands of qubits and their interactions is humanly impossible. Based in the Delft cluster where multiple specialist Dutch companies each contribute components to integrated quantum systems.

Delft-based manufacturer of superconducting nanowire single-photon detectors (SNSPDs) under CEO Dr. Sander Dorenbos, providing the ultra-sensitive photon detection technology essential for quantum networking, quantum key distribution and photonic quantum computing. SNSPDs detect individual photons with unmatched efficiency and timing precision, enabling the entanglement-based protocols used by Qunnect, Cisco and quantum networking testbeds worldwide. Founded as a spinoff from TU Delft. Reached 50th integrated device through the Aliro Technologies quantum networking programme. Critical enabling technology for any system relying on single-photon measurement, from quantum communications satellites to photonic quantum computers.

Global specialty semiconductor foundry (acquired by Intel, subsequently divested) manufacturing photonic chips for quantum computing companies. Expanded silicon photonics collaboration with Xanadu (February 2026) for fault-tolerant quantum hardware fabrication. Tower’s advanced photonic integrated circuit manufacturing capabilities make it a critical supply chain partner for photonic quantum computing, providing the high-volume chip fabrication that photonic approaches require. Also serves classical photonic interconnect markets, giving Tower a foothold in both quantum and classical photonic chip markets.

DARPA selected Q-CTRL for a $24.4M Robust Quantum Sensors contract (August 2025), one of the largest quantum sensing awards to an Australian company. Ironstone Opal, a ruggedised quantum sensor for GPS-denied navigation, was named TIME Best Invention of 2025. Founded by Michael Biercuk (Professor of Quantum Physics, University of Sydney). Headquartered in Sydney with offices in Los Angeles and Berlin. Raised A$55M+ in total funding. Partnered with QUCAN Quantum Technologies and Advanced Navigation for defence and aerospace quantum sensing. Also develops Fire Opal for quantum computing circuit optimisation, validated on IBM, Google and Rigetti hardware with up to 9,000x error reduction. Dual computing/sensing business model provides multiple revenue streams.

Formerly ColdQuanta, now listed on NYSE as INFQ. The broadest quantum platform in the industry, spanning computing, sensing and networking all built on cold atom technology. Sensing products include ultra-precise atomic clocks (delivering GPS-level timing without satellites), inertial sensors for GPS-denied navigation in contested military environments, and quantum RF receivers capable of detecting electronic warfare signals with extraordinary sensitivity. Significant US government contracts across DARPA, Department of Defence and intelligence community applications. Founded by Dana Anderson. Headquartered in Boulder, Colorado. The sensing division generates near-term revenue while quantum computing scales, a business model advantage over pure-play computing companies.

Portable cold-atom quantum sensor company building devices for navigation, timing and gravimetry from the UK, under CEO Dr. Ben Sherlock. Focused on defence and aerospace applications where GPS denial or spoofing poses operational risks. Technology enables compact, field-deployable gravity sensors for underground mapping (detecting tunnels, voids, mineral deposits) and inertial navigation without satellite signals. Raised £3.4M in seed funding. Won UK Ministry of Defence innovation contracts. The defence market for quantum sensors is growing rapidly as military planners recognise that GPS dependence is a strategic vulnerability: adversaries can jam or spoof satellite signals, but quantum inertial navigation systems are immune to electronic warfare.

Developed atomic clocks and inertial sensors using trapped atoms under founder Dr. Jamil Abo-Shaeer (former DARPA programme manager), achieving exceptional precision in compact, deployable form factors. Acquired by IonQ, extending the company’s platform into quantum sensing and precision timing. Applications span defence (GPS-denied navigation for military platforms), telecommunications (network synchronisation requiring nanosecond precision) and financial services (timestamping trades to prevent front-running). Founded in 2018 in Boulder, Colorado. The acquisition gave IonQ immediate access to production-ready quantum sensing products alongside its computing platform, creating the industry’s broadest quantum technology portfolio.

Quantum magnetometer company using nitrogen-vacancy (NV) centres in diamond under CEO Loic Prunel for mining and geology applications. Based in Sherbrooke, Quebec. NV diamond sensors detect extremely subtle magnetic field variations at the nanotesla level, enabling more precise mineral deposit mapping, geological surveys and resource exploration than classical magnetometers. Raised C$3.4M in funding. Founded from Universite de Sherbrooke research. Mining companies spend billions annually on exploration; even small improvements in subsurface imaging accuracy can save millions by reducing dry drill holes and improving resource estimation. SBQuantum’s sensors operate at room temperature, unlike competing quantum magnetometers requiring cryogenic cooling.

Applies nitrogen-vacancy (NV) diamond quantum sensing to biomedical diagnostics under CEO Dr. Colin Connolly from Cambridge, Massachusetts. Spun out of Harvard research. Technology enables detection of magnetic signatures from biological processes at the cellular level, including immune cell activity, bacterial metabolism and drug response. Products target the $80B+ global diagnostics market. Potential applications include early cancer detection through immune response profiling, rapid antimicrobial susceptibility testing (results in hours vs days for traditional culture methods), and personalised medicine through real-time drug efficacy monitoring. The platform could fundamentally change how diseases are diagnosed by measuring magnetic biomarkers invisible to conventional diagnostic methods.

Major US government consulting firm under CEO Horacio Rozanski (NYSE: BAH, $10B+ revenue) with a dedicated quantum technology practice established in 2019. Advises defence, intelligence and federal agencies on quantum computing strategy, PQC migration, quantum sensing deployment and workforce readiness. Led the development of quantum computing roadmaps for multiple US government agencies. Partners with IonQ, D-Wave and other hardware providers to bring quantum computing to government missions. Employs quantum physicists and engineers alongside policy experts. Significant contracts with DARPA, NSA and Department of Energy. As the largest consulting firm serving US national security, Booz Allen is the primary conduit through which the federal government engages with quantum technology.

Now part of the Exail group, headquartered in Talence, France. Develops quantum gravimeters (Absolute Quantum Gravimeter), accelerometers and atomic clocks based on cold atom technology. Products deployed for geophysics, civil engineering, volcanology, underground mapping and oil and gas exploration. Among the most commercially mature quantum sensing systems available, with products shipping to customers globally. The Absolute Quantum Gravimeter measures local gravity with micro-Gal precision, detecting underground voids, geological features and groundwater movement. Used by geological surveys, mining companies and infrastructure developers. A rare quantum technology company with products generating significant commercial revenue from real-world deployments.

Canberra-based quantum sensing company developing portable cold-atom gravimeters and accelerometers under CEO Dr. Kyle Hardman. Spun out of the Australian National University. Devices detect minute variations in gravity, enabling applications in mineral exploration, civil engineering (detecting underground voids and infrastructure) and defence. Raised A$7.8M from Main Sequence Ventures and the CSIRO Innovation Fund. Nomad’s approach miniaturises atom interferometry into field-portable instruments, transitioning quantum gravity sensing from laboratory curiosities into commercially deployable exploration tools for the mining and infrastructure sectors.

Founded by Duncan Earl, acquired by IonQ. Brought 118 US and international patents in quantum networking, one of the largest quantum IP portfolios in the sector. The Bohr-IV Metro Quantum Network was deployed at EPB in Chattanooga, Tennessee, one of the first operational metropolitan quantum networks in the US, running over existing telecom fibre. Technology enables entanglement distribution over fibre optic infrastructure for both quantum-secured communications and distributed quantum computing. The acquisition gave IonQ a foundation for networking multiple quantum processors together, critical for the long-term vision of a quantum internet and for scaling trapped ion systems beyond single-module limits.

Quantum networking software and simulation tools for designing and deploying quantum networks. Founded by CEO Michael Cubeddu and Prineha Narang (former Harvard professor, now VP at AWS). Based in Boston. Raised $10M in seed and Series A from investors including Flybridge Capital and Samsung NEXT. AliroNet platform enables organisations to plan, simulate and operate quantum network infrastructure, analogous to how network management software operates classical telecommunications networks. Focused on the software layer that will be essential as quantum networks scale from point-to-point links to complex mesh topologies. Partners with AWS, national labs and telecom providers. Member of the NSF Quantum Leap Challenge Institute.

Building satellite-based quantum key distribution systems under CEO Lum Chune Yang for global quantum communication networks from Singapore. Spun out of the National University of Singapore’s Centre for Quantum Technologies (CQT). Raised $10M in Series A from Pavilion Capital and SGInnovate. Uses entangled photon pairs transmitted from low-Earth orbit satellites to establish secure encryption keys between ground stations separated by thousands of kilometres, overcoming the ~300km distance limitation of fibre-based QKD. Heritage from the SpooQy-1 CubeSat mission, which demonstrated quantum entanglement in space (2019). Developing a constellation of quantum satellites for Southeast Asian governments and enterprises.

Entanglement distribution hardware company building systems for quantum networks under CEO Dirk Englund (MIT Professor). Acquired by IonQ in 2025. Founded by researchers from MIT Lincoln Laboratory. Technology enables the generation and distribution of entangled photon pairs across optical fibre, a fundamental building block for quantum internet infrastructure and distributed quantum computing. High-rate, high-fidelity entanglement distribution over deployed telecom fibre is one of the hardest engineering challenges in quantum networking. Lightsynq’s technology complements Qubitekk’s deployed metro networks and ID Quantique’s QKD systems within IonQ’s growing quantum networking division.

Provides optical communications systems for quantum satellite networks. Acquired by IonQ, extending the company’s networking platform into space-based quantum communications. Founded by CEO Marcos Rubinstein (former Lockheed Martin). Develops inter-satellite optical links and ground-station connectivity optimised for quantum-secured global communications. The acquisition completed IonQ’s full quantum networking stack: Qubitekk (metro fibre), Lightsynq (entanglement distribution), ID Quantique (QKD), and Skyloom (space/satellite). This combination makes IonQ the only company with technology spanning ground-to-space quantum communications, positioning it for government and defence contracts requiring global quantum-secured networks.

Building the world’s first Quantum Modem, a device that translates quantum information between microwave and optical frequencies, enabling quantum computers to communicate over standard telecom fibre. Based in Delft. Founded by CEO Simon Groeblacher, Frederick Hijazi and CTO Robert Stockill from TU Delft. Raised €10M from QDNL Participations, EIC Fund, Quantonation, Speedinvest and High-Tech Grunderfonds. Published world-leading transducer performance in Nature Nanotechnology, demonstrating optical-frequency readout of superconducting qubits. Partnered with QuantWare to develop networked superconducting processors. Quantum transduction is a critical missing piece: without it, superconducting quantum computers (which operate at microwave frequencies) cannot connect over distances, limiting them to single isolated systems. QphoX solves this by bridging the microwave-to-optical gap.

Developing quantum-secured enterprise communications platforms under CEO Alex David for corporate and government networks. Provides turnkey quantum-safe networking solutions that integrate with existing IT infrastructure, enabling organisations to protect sensitive data in transit without wholesale network replacement. Focused on the enterprise market where quantum-safe migration is becoming a procurement requirement, particularly for companies working with government clients subject to evolving quantum security mandates. The enterprise quantum security market is accelerating as NIST PQC standards finalised in 2024 give CISOs concrete standards to implement.

Brooklyn-based quantum networking pioneer under CEO Noel Goddard, the first company to deploy metro-scale entanglement-based quantum networks on commercial fibre. Raised $10M Series A extension (June 2025) led by Airbus Ventures with Cisco Investments and Quantonation. Flagship Carina platform generates entangled photon pairs at room temperature for distribution over standard telecom fibre. GothamQ testbed spans 17.6km of deployed fibre connecting Brooklyn and Manhattan. In February 2026, demonstrated record-breaking entanglement swapping with Cisco (1.7M+ pairs/hour locally, 5,400/hour over deployed fibre, 99%+ polarisation fidelity), while Deutsche Telekom simultaneously demonstrated quantum teleportation over 30km of commercial Berlin fibre using the same Qunnect hardware. US Air Force contract awarded October 2025 for defence quantum networking. Deployments in New York, Berlin and Albuquerque.

Canadian quantum networking company that raised $93M (August 2025) in one of the largest quantum communications funding rounds globally. Developing secure quantum communication infrastructure for government and enterprise networks across North America. Based in Canada alongside Xanadu, Photonic Inc. and the University of Waterloo’s Institute for Quantum Computing.