Aidan Daly
Q-CTRL announced raising $59 million in fresh capital from its expanded Series B funding round. The Sydney, Australia-based quantum technology company said Tuesday it has raised $113 million in the investment round, which will be used for quantum control research and development and product engineering.
GP Bullhound led the investor group.
Michael Biercuk, founder and CEO of Q-CTRL, said, “We’re very excited that GP Bullhound has led this round. Their experience and international presence will support us as we continue our expansion.” He also looks forward to working closely with the technology advisory and investment firm as a shareholder and board member.
Repeat investors included Alumni Ventures, DCVC, John Eales, and ICM Allectus. Lockheed Martin Ventures and Alpha Edison were among the new funders.
“We are thrilled to support Q-CTRL in unlocking the full potential of quantum technology,” said Per Roman, founder and managing partner of GP Bullhound.
“At GP Bullhound, we believe that quantum computing and sensing will be central to the next wave of technological transformation,” Roman added.
Chris Moran, vice president and general manager of Lockheed Martin Ventures, said, “Lockheed Martin’s strategic investment in Q-CTRL underscores our commitment to advancing quantum technology solutions for national security applications.”
