Q-CTRL, a global leader in quantum infrastructure software, has successfully expanded its Series B funding round to $113M, with a $59M capital injection led by GP Bullhound. This Series B-2 round represents a significant increase in valuation, signaling confidence in Q-CTRL’s technology and its role in advancing the quantum industry. We had previously reported on Q-CTRL’s receiving $27.4 million in Series B-1 funding in January 2023 and an additional $2 million in July 2023.
The funding round saw participation from major strategic investors, including Lockheed Martin Ventures, NTT Finance, Alpha Edison, Salus Group, and TISI, alongside returning investors like Alumni Ventures, DCVC, John Eales, ICM Allectus, Main Sequence Ventures, and Salesforce Ventures. The new capital will support Q-CTRL’s development of quantum control software for computing and sensing applications, as well as commercial partnerships with Fortune 500 companies and defense sectors.
Q-CTRL’s quantum infrastructure software is integrated into leading quantum platforms, such as IBM, Diraq, Oxford Quantum Circuits, and Rigetti. The company also continues to lead in quantum sensing, with successful deployments in defense, including GPS-denied navigation for the Australian Department of Defence and the UK Navy.
For more details, you can access the official press release from Q-CTRL here.
October 8, 2024
