Q-CTRL's Quantum Funding Tidal Wave

The Sydney Australia based startup has now has raised a total of $166 million during its extended Series B.

Hey Everyone,

While Florida grapples with storms, down under it’s a Quantum funding victory lap.

Australia is so advanced per capita in Quantum computing innovation, go Aussie! But seriously, it’s rather remarkable. Let by Michael Biercuk the latest monster round is fairly impressive.

The round, led by GP Bullhound, includes $59M in new capital—a strong signal of confidence in Q-CTRL’s leadership in quantum infrastructure software. The Tech Council of Australia in 2022 provided this report on the bullish Quantum sector.

Quantum technology, set to revolutionize industries like pharmaceuticals, finance, and resources, represents a $1.2T opportunity, according to McKinsey said Q-CTRL in its blog about the news.

Q-CTRL has raised $113 million in its Series B. Confusing but that works out to USD $113 million (AUD $166 million), with USD $59 of new capital. Q-CTRL is a pioneering company in the field of quantum technology, primarily focused on developing infrastructure software that enhances the performance and reliability of quantum computers and other quantum technologies. Founded in 2017 by Professor Michael J. Biercuk, Q-CTRL aims to make quantum computing more accessible and practical by addressing the significant challenges posed by hardware errors and instabilities.

So the company is going on seven years old. The company is backed by Salesforce and now Lockheed Martin Ventures, the latest sign of growing interest in quantum’s possible military applications.  The military applications of Quantum startup isn’t often talked about, but the U.S. is investing majorly in a new wave of companies to bolster their drone technology and national security.

Q-CTRL also developed Black Opal, an award-winning edtech program that enables users to quickly learn quantum computing.