Q-CTRL raises $290M in a Series C led by Salesforce Ventures

[Nash90]

An Australian quantum software company has raised a major funding round. Quantum Computing Report says Q-CTRL has raised $290 million, about 415 million Australian dollars, in an oversubscribed Series C that was expanded twice, valuing the company at more than $1 billion

Salesforce Ventures led the round, with Bullhound Capital and Affinity Partners also acting as lead or anchor investors. New backers include AMD Ventures, EDGE Group, Australia's National Reconstruction Fund Corporation, MPower Partners and SPARX

Returning investors include Lockheed Martin Ventures, In-Q-Tel, DCVC, Main Sequence and Square Peg. The round follows a $113 million Series B in October 2024 and a $27.4 million Series B-1 in January 2023

The money will support Q-CTRL's AI driven control software, including Fire Opal and Boulder Opal, its Ironstone Opal quantum navigation product, and expansion in Japan. Quantum Computing Report calls it the largest private raise for a software focused quantum company

Software that makes quantum hardware work better is essential, and Q-CTRL has built a strong reputation in that space. Quantum navigation could have big practical uses in places where GPS is unreliable. A valuation above a billion dollars shows how much investors believe in the company

Is quantum software as important as quantum hardware? And where could quantum navigation be most useful?

Q-CTRL Raises $290 Million in Series C Funding Led by Salesforce Ventures to Scale Quantum Infrastructure Software - Quantum Computing Reportquantumcomputingreport.com