Yellow and white computer mice

Friday Fundings: PsiQuantum, Fireblocks, and NotCo



Quantum Computing Startup Gets a $3.15 Billion Valuation

PsiQuantum, a startup focused on quantum computing, raised $450 million in venture funding led by BlackRock (BLK). The investment, which gives the company a valuation of $3.15 billion, comes at a time when investor interest in advanced computing is increasing.

PsiQuantum and its investors are betting that within the next 10 years, applications based on quantum computing will solve problems millions of times faster than today’s systems. They also believe that their technology will be able to solve problems that a supercomputer is not capable of solving today.

The Series D round of funding brings PsiQuantum’s total capital raised to $665 million since it launched in 2016. Proceeds from the round will be used to expand the company’s workforce and to construct a powerful quantum machine.

Digital Token Infrastructure Startup Raises $310 Million

Fireblocks, a digital token infrastructure startup, raised $310 million in venture funding led by
Sequoia Capital, Stripes, and Spark Capital. The Series D fundraising round gives Fireblock a valuation of $2.2 billion. In February, Fireblocks raised $133 million at a valuation of $700 million.

Fireblocks operates a platform which allows financial firms to manage their digital assets. Companies can store, transfer, and issue digital assets using Fireblocks. The startup has secured more than $1 trillion in digital assets for institutional investors. Proceeds from the fundraising round will be used to grow its engineering team and customer service staff. The company is also eyeing expansion into the Asia-Pacific region.

Plant-Based Food Company Raises $235 Million

NotCo, a startup developing plant-based food products, raised $235 million in venture funding led by Tiger Global. The Series D fundraising round gives the company a valuation of $1.5 billion. Investors in the round included athletes Lewis Hamilton and Roger Federer as well as the musician, DJ Questlove.

NotCo is making plant-based alternatives for milk and meat products. It is capitalizing on growing demand for healthy alternatives to meat-based proteins. The company raised over $350 million in total venture funding. Proceeds from the round will help the company enter the Mexican and Canadian markets and increase its market share in the US and Chile.

Things are changing daily within the financial world. Sign up for the SoFi Daily Newsletter to get the latest news updates in your inbox every weekday.

Sign up


Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS21073003


All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT Meg Richardson Meg Richardson is a writer specializing in markets, technology, and personal finance. She loves breaking down seemingly complex ideas and making them readable and interesting for everyone. She holds an MFA in writing from Columbia University. When she is not writing about finance, she enjoys running in Central Park and drawing cartoons.


TLS 1.2 Encrypted
Equal Housing Lender