Q-CTRL, a leader in quantum infrastructure software, announced the expansion of its Series B Funding Round to USD 113 million (AUD 166 million), securing USD 59 million in new capital.
The Series B-2 all-equity round was led by the global venture firm GP Bullhound, resulting in an increase in the company’s valuation.
“We’re very excited that GP Bullhound has led this round,” said Q-CTRL CEO and Founder Michael J. Biercuk.
“Their experience and international presence will support our expansion.”
New investors include Alpha Edison, Lockheed Martin Ventures, NTT Finance, Salus Group, and TISI, alongside contributions from existing investors such as Alumni Ventures, DCVC, and Salesforce Ventures.
“We are thrilled to support Q-CTRL in unlocking the full potential of quantum technology,” said Per Roman, GP Bullhound founder and managing partner.”
“Quantum computing and sensing will reshape industries like finance, transport, and pharmaceuticals. Our investment reflects our commitment to backing visionary companies.”
Biercuk added, “Our focused 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.”
John Eales, global rugby legend and business leader, remarked, “Q-CTRL has been a fascinating investment. Partnering with large global enterprises reinforces the validation of our investment strategy.”
With this funding, Q-CTRL said it plans to enhance its investment in quantum control research and development, as well as product engineering, to support an expanding portfolio of clients that includes Fortune 500 companies, government departments, and quantum platform providers.
The company, which employs over 130 people, has already seen significant commercial success, highlighting a potential for growth and value creation with this new investment.
