Q-CTRL adds $59m to its $113m Series B

Q-CTRL, the Australian quantum infrastructure software specialist, has expanded its Series B Funding Round to $113 million with $59 million of new capital.

The Series B-2 all-equity funding round was led by  late-stage venture firm GP Bullhound and saw an increase in valuation from earlier financing.

New investors include Alpha Edison, Lockheed Martin Ventures, NTT Finance, Salus Group, and TISI; they are joined by repeat contributions from existing investors Alumni Ventures, DCVC, John Eales, ICM Allectus, Main Sequence Ventures, and Salesforce Ventures.

“Our  view that software can be the key enabler of

quantum hardware across all applications has become a key driver of new capabilities in the field and underpins our major commercial partnerships with leading quantum platform vendors,” says Q-CTRL founder and CEO Michael Biercuk (pictured).

“Quantum-enabled control technologies have the potential to unlock the future of quantum computing and further enhance our capabilities in delivering resilient, high-performance systems for critical missions,” says Chris Moran gm at Lockheed Martin Ventures.

With this funding Q-CTRL, which has over 130 employees , will expand its investment in quantum control R&D and product engineering to deliver on a growing portfolio of customer engagements among Fortune 500 clients, government departments and agencies, and quantum platform providers.