Sydney-based Q-CTRL Attracts Global Investor Syndicate with Latest Expansion of Quantum Control Efforts
SYDNEY--(BUSINESS WIRE)--Q-CTRL, an emerging leader producing intuitive and scalable quantum control engineering solutions to accelerate the development of quantum technology, today announced a Series B fundraise of $25 million (USD) led by Airbus Ventures. The current capital raise will augment the team�s quantum control efforts, enabling Q-CTRL to realize new data-as-a-service markets powered by quantum sensing for acceleration, gravity, and magnetic fields.
Airbus Ventures is joined by a range of existing syndicate members in leading the investment round, including new investor Ridgeline Partners.
�Airbus Ventures is delighted to lead Q-CTRL�s Series B financing round. The team�s impressive quantum control software suite enables speed and agility at a moment of rapid acceleration for the entire quantum industry,� said Dr. Lewis Pinault, Airbus Ventures Partner based in Tokyo. �At Airbus Ventures, we�re particularly excited about Q-CTRL�s widening span of advanced applications and solutions, including lunar development, geospatial intelligence, and Earth observation, all increasingly critical in the global effort to address the accelerating planetary system crises we now face.�
This opportunistic investment follows Q-CTRL�s oversubscribed Series A in July 2019 and is focused on the company�s dramatic addition of quantum sensing to its successful quantum computing business unit, and expansion of its core quantum control infrastructure software efforts.
The company is currently developing space-qualified quantum sensors via the Moon-to-Mars supply chain capability program and through the Seven Sisters Consortium led by Fleet Space. Its quantum sensing client portfolio already includes major commercial and government engagements with Advanced Navigation, the Australian Department of Defence, the Air Force Research Lab, and the Australian Space Agency.
�Quantum sensing uses the fragility of quantum hardware as an asset to enable new ways to measure underground water, monitor space weather, and navigate without a global positioning system,� said Prof. Michael J. Biercuk, founder and CEO of Q-CTRL. �However, like quantum computing, interference from the outside world degrades system performance when quantum sensors are taken from the lab out into the field.
�Combatting this degradation using quantum control is Q-CTRL�s specialty, and the team is now pioneering the development of �software-defined� quantum sensors, leveraging our expertise to boost sensor performance in real field environments by orders of magnitude.
�Q-CTRL�s vision has always been to enable all applications of quantum technology, and this new fundraise accelerates our mission to deliver real value to the space, defense, and commercial sectors,� said Biercuk.
This financing announcement comes on the heels of major technical and product achievements recently announced by Q-CTRL. This includes technical demonstrations using core Q-CTRL technology to improve the performance of quantum algorithms executed on real quantum computers by greater than 2500% - results that dramatically exceeded projections made at their Series A.
In addition, recognizing the critical need to attract new entrants to the field, Q-CTRL recently launched Black Opal, the first interactive quantum technology education program.
To learn more about Q-CTRL, please visit: q-ctrl.com
About Q-CTRL
Q-CTRL is building the quantum technology industry by overcoming the fundamental challenge in the field � hardware error and instability. Q-CTRL�s quantum control infrastructure software for R&D professionals and quantum computing end users delivers the highest performance error-suppressing techniques globally, and provides a unique capability accelerating the pathway to the first useful quantum computers. This foundational capability also applies to a new generation of quantum sensors, and enables Q-CTRL to shape and underpin every application of quantum technology.
Q-CTRL has assembled the world�s foremost team of expert quantum-control engineers, providing solutions to many of the most advanced quantum computing and sensing teams globally. Q-CTRL has been an inaugural member of the IBM Quantum Startup network since 2018, and recently announced a partnership with Transport for NSW, delivering its enterprise infrastructure software to transport data scientists exploring quantum computing. Q-CTRL is funded by SquarePeg Capital, Sierra Ventures, Sequoia Capital China, Data Collective, Horizons Ventures, Main Sequence Ventures, In-Q-Tel, Airbus Ventures, and Ridgeline Partners. The company has international headquarters in Sydney, Los Angeles, and Berlin.
About Airbus Ventures
Headquartered in Silicon Valley, with offices in Toulouse and Tokyo, Airbus Ventures is a fast-moving, early-stage venture capital company that independently funds and supports startups impacting the aerospace industry. Airbus Ventures has helped aspiring innovators reach new dimensions of achievement since 2015.
Contacts
Media Contact:
Mike Kilroy for Q-CTRL
HKA, Inc.
[email protected]
p. 949-235-0259
