Photon Queue raises $4M seed to build quantum tech in Chicago

What's the deal? Photon QueueDealroom has a profile for this one. Try Dealroom →, a University of Illinois Urbana-Champaign spinout, has raised a $4 million seed round to scale its quantum technology. The round was led by Playground GlobalDealroom has a profile for this one. Try Dealroom →. The startup plans to base its growth in Chicago.

What's the endgame? Founded in 2024, Photon Queue builds free-space quantum memories that store photons using linear optics at room temperature. The startup is using the funding to advance and scale its quantum technology, keeping its roots in the University of Illinois Urbana-Champaign and the region's academic research base.

Why now? The round lands in July 2026, as Photon Queue sets its sights on building in Chicago rather than relocating to an established coastal hub.

The signal: At $4 million, the round sits in the top 10% of all-time seed rounds in its category, a sign of investor appetite for early-stage quantum startups building outside the usual coastal clusters.

Read more: Chicago Business Journal