Q-CTRL in Series B funding for quantum computing and sensing
Q-CTRL has announced the successful expansion of its Series B Funding Round to USD$113M (AUD$166M), with USD $59M of new capital available to invest in quantum computing. The Series B-2 all-equity funding round was led by global late-stage venture firm GP Bullhound and saw a dramatic increase in valuation from earlier financing.
With this funding, Q-CTRL 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. The funding aims to further advance quantum computing and sensing technology.
“At GP Bullhound, we believe that quantum sensing and computing will be central to the next wave of technological transformation, reshaping industries such as finance, transport, and pharmaceuticals,” said Per Roman, GP Bullhound Founder and Managing Partner. “Our investment reflects our commitment to backing visionary companies capable of bringing this revolution from the lab to real-world applications.”
The investor syndicate includes venture capital leaders and strategic global defense technology giants reflecting the financial opportunity presented by Q-CTRL’s strong commercials and the critical value of its technology in shaping the quantum industry. 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.
“At GP Bullhound, we believe that quantum computing and sensing will be central to the next wave of technological transformation, reshaping industries such as finance, transport, and pharmaceuticals,” said Per Roman, GP Bullhound Founder and Managing Partner. “Our investment reflects our commitment to backing visionary companies capable of bringing this revolution from the lab to real-world applications.”
“Lockheed Martin’s strategic investment in Q-CTRL underscores our commitment to advancing quantum technology solutions for national security applications,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “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.”
Q-CTRL recently deployed application-focused Qiskit Functions with IBM, building on its world-first native integration of third-party software into IBM Quantum Services. Its technology has powered the record-setting performance achieved by industry customers such as Softbank and Mitsubishi Chemical. This expansion followed the recent announcement that its performance-management software for quantum computing was being deployed into three new major platforms: Diraq, Oxford Quantum Circuits, and Rigetti.
Q-CTRL has built commercial engagements with major defense primes, the Australian Department of Defence, and the UK Navy’s Office of the Chief Technology Officer focused on quantum-assured navigation in GPS-denied environments. This year, Q-CTRL performed a world-first deployment of “software-ruggedized” quantum gravimeters on maritime vessels, showing its software stabilization technology made the difference between complete loss-of-signal and useful performance. And the company announced a partnership with Airbus building on these field trials. These quantum-navigation capabilities underpin new commercial opportunities providing a GPS backup in maritime and airborne vehicles.
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