Q-CTRL raises $290 million Series C at over $1 billion valuation for quantum software

Sydney-based quantum software startup Q-CTRL announced a $290 million Series C funding round led by Salesforce Ventures, pushing its valuation above $1 billion. Supported by investors including Jared Kushner's Affinity Partners, AMD Ventures, and In-Q-Tel, the transaction marks the largest software raise in quantum history. Q-CTRL develops AI-driven control software to stabilize fragile quantum systems and commercializes GPS-denied navigation technology, currently in testing with Airbus, DARPA, and defense clients.

Q-CTRL Series C funding round

• ▪Returning investors participating in Q-CTRL's Series C round included In-Q-Tel, Lockheed Martin Ventures, Bullhound Capital, DCVC, Main Sequence, Square Peg, Salus Ventures, Alpha Edison, Alumni Ventures, and Ridgeline
• ▪Q-CTRL's $290 million Series C represents the largest funding raise ever for a software-focused quantum computing company
• ▪Salesforce Ventures led Q-CTRL's $290 million Series C round, which also included new investors Affinity Partners, AMD Ventures, EDGE Group, MPower Partners, SPARX Asset Management, and National Reconstruction Fund Corporation
• ▪Sydney-based quantum infrastructure software developer Q-CTRL announced a $290 million Series C funding round

Investor and executive commentary on Q-CTRL

• ▪Salesforce Ventures partner Robert Keith stated that Q-CTRL solves the primary challenge in quantum computing by using AI-powered control software to extract useful output from quantum hardware
• ▪Bullhound Capital founding partner Per Roman stated that Q-CTRL is one of the few quantum companies with actual customers and real revenue
• ▪Q-CTRL chief executive officer Michael Biercuk stated that Q-CTRL's software stabilizes quantum computers and reduces operational errors by functioning like noise-canceling headphones for quantum hardware

Vulnerabilities of satellite GPS navigation

• ▪Military conflicts in Ukraine and the Middle East have highlighted navigation risks by disrupting satellite-based GPS systems with electronic jamming and spoofing that block location signals or present false coordinates
• ▪Militaries, commercial airlines, and shipping firms are pursuing quantum navigation alternatives because standard satellite GPS signals are vulnerable to disruption by electronic jamming and spoofing equipment