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Quantum infrastructure software developer Q-CTRL has announced Series C private fundraise of $415 million, led by Salesforce Ventures.
The round is headlined by significant participation from Bullhound Capital and Affinity Partners, and a global syndicate of new and existing investors.
The oversubscribed round mints the newest quantum-sector unicorn and places Q-CTRL among the best-capitalised quantum firms in private markets.
The company’s Series C saw two expansions to meet investor demand and represents the largest quantum-sector fundraise for a software-focused business.
This success is underpinned by the company’s unique “AI for quantum” infrastructure software, which is critical to deploying quantum computers in data centres and integrating quantum sensors into real-world vehicles for autonomy and commercial aviation.
“The investor syndicate we’ve assembled showcases the strength of our technology, revenue growth and strategic alignment with some of the most important sectors today, from AI to aviation,” said Q-CTRL chief executive and founder Michael J Biercuk.
“At Q-CTRL, one of our core values is to be real, and that means a continued drive to deliver true customer value from quantum technology through our unique focus on infrastructure software.
“We’re excited to be able to deliver technical and commercial leadership as one of the largest and most successful privately held companies in the global quantum sector.”
Quantum advantage represents the holy grail for the industry, and Q-CTRL’s AI-driven software has already made it a reality – delivering global firsts across both quantum computing and quantum sensing.
The company’s marquee product, Ironstone Opal, is an unjammable, unspoofable and undetectable quantum navigation system that works when global positioning system is unavailable or denied.
The company’s proprietary software-ruggedisation enables its highly sensitive quantum sensors to perform in the field 100 times better than the best alternative and is being deployed on commercial aircraft and autonomous vehicles.
In this next phase of growth, Q-CTRL will double down on its software-first capabilities, cementing its market leadership at the intersection of AI and quantum.
Concurrently, the company will scale globally to meet customer demand across sectors, from finance to energy, and continue to deliver on major autonomy and aerospace programs.
New investors supporting the company’s expansion include Affinity Partners, AMD Ventures, EDGE Group, MPower Partners, Australia’s National Reconstruction Fund Corporation and SPARX Asset Management.
Returning investors include Alpha Edison, Alumni Ventures, Bullhound Capital, DCVC, In-Q-Tel, Lockheed Martin Ventures, Main Sequence, Ridgeline, Salesforce Ventures, Salus Ventures and Square Peg.
Q-CTRL’s investors bring a mix of perspectives spanning strategic corporate venture, private equity and growth-stage venture capital, and position the company to scale opportunities through joint sales, technology integration and direct revenue generation.
“The hard problem in quantum is not building the machine, it is getting useful output from it. Q-CTRL solves that with AI-powered control software, and the proof is already public: a materials simulation on IBM hardware that any developer can now call directly from the IBM Quantum Platform, and the first quantum navigation system qualified for safety of flight,” Salesforce Ventures partner Robert Keith said.
“That software layer will decide whether quantum shows up in enterprise data centres this decade, and it is why Salesforce Ventures led this round.”
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