The Sydney, Australia-based startup offers middleware to quantum computing hardware providers to virtualise their solutions, enabling them to better manage performance for end users.
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The Series B-2 all-equity funding round was led by GP Bullhound, bringing the total series B round to $113 million.
New investors such as Lockheed Martin Ventures and NTT Finance joined previous backers including Alumni Ventures, Salesforce Ventures, and ICM Allectus, among others.
Q-CTRL plans to use the funds to expand investment in quantum control research and development, and product engineering.
“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,” said Michael J. Biercuk, founder and CEO of Q-CTRL. “This new investment, coupled with our growing portfolio of technical demonstrations, has positioned us for ubiquity and permanence in the industry.”
Founded in November 2017, Q-CTRL provides quantum infrastructure software to Fortune 500 companies, startups, national research labs, and academic institutions.
Aside from its headquarters in Sydney, the startup boasts more than 130 staff across offices including Los Angeles, Berlin, and Oxford.
The startup has worked with IBM to deploy application-focused Qiskit Functions, providing customers using its quantum services such as Softbank and Mitsubishi Chemical with improved performance.
Q-CTRL has also previously provided solutions for global defence agencies, including the Australian Department of Defence and the UK Navy’s Office of the chief technology officer.
Earlier this year, the startup deployed “software-ruggedised” quantum gravimeters on maritime vessels to showcase the technology that could present loss-of-signal and boosted performance.
The maritime trials led to a partnership with Airbus to expand quantum-navigation capabilities as a GPS backup in maritime and airborne vehicles.
"Lockheed Martin's strategic investment in Q-CTRL underscores our commitment to advancing quantum technology solutions for national security applications,” said Chris Moran, VP 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.”
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