Q-CTRL, a global leader in quantum infrastructure software, has set a new record for fundraising in the quantum technology sector, securing $113 million in Series B funding led by GP Bullhound. This investment signals the strength of Q-CTRL’s technology and accelerates its timeline to achieving quantum advantage. The company will use this funding to expand its research and development in quantum control and product engineering, delivering on a growing portfolio of customer engagements among Fortune 500 clients, government departments, and quantum platform providers.
Michael J. Biercuk, CEO and Founder of Q-CTRL, expressed excitement about GP Bullhound’s leadership in the round, citing their experience and international presence as key to supporting the company’s expansion. Per Roman, Founder and Managing Partner of GP Bullhound, believes that quantum computing and sensing will be central to the next wave of technological transformation, reshaping industries such as finance, transport, and pharmaceuticals.
Lockheed Martin Ventures, a strategic investor in Q-CTRL, sees the potential for quantum-enabled control technologies to unlock the future of quantum computing and enhance their capabilities in delivering resilient, high-performance systems for critical missions. With this funding, Q-CTRL is poised to expand its ubiquity and permanence in the industry, driving growth and value capture in the emerging quantum market.
Quantum Technology Funding Record Set by Q-CTRL with $113M Series B Investment
Q-CTRL, a leading quantum infrastructure software company, has announced the successful expansion of its Series B funding round to $113 million, with $59 million of new capital. This represents the largest aggregate Series B for a quantum software company to date. Global late-stage venture firm GP Bullhound led the investment and saw a dramatic increase in valuation from earlier financing.
The investor syndicate includes venture capital leaders and strategic global defense technology giants, reflecting the financial opportunity presented by Q-CTRL’s strong commercial performance and the critical value of its technology in shaping the quantum industry. New investors include Alpha Edison, Lockheed Martin Ventures, NTT Finance, Salus Group, and TISI; they are joined by repeat contributions from existing investors Alumni Ventures, DCVC, John Eales, ICM Allectus, Main Sequence Ventures, and Salesforce Ventures.
Unlocking the Full Potential of Quantum Technology
GP Bullhound’s investment in Q-CTRL reflects their commitment to backing visionary companies capable of bringing quantum technology from the lab to real-world applications. The company’s focus on quantum infrastructure software enables useful field-deployed quantum solutions, spanning both quantum computing and quantum sensing. This unique approach has led to commercial success, with Q-CTRL achieving extraordinary results among Fortune 500 clients, government departments and agencies, and quantum platform providers.
Quantum Technology Market Opportunity
The global quantum technology market is projected to reach $1.2 trillion by 2029, according to McKinsey. The sensing market alone is expected to surpass $300 billion by 2029, with quantum sensing poised to capture a significant market share from existing classical technologies due to its enhanced performance and ability to enable critical new missions for defense.
Q-CTRL’s Commercial Success
Q-CTRL has achieved significant commercial success, deploying its unique performance-management infrastructure software into major quantum cloud platforms. The company has pioneered a trend of quantum-industry deverticalization, with recent deployments including IBM Quantum Services, Diraq, Oxford Quantum Circuits, and Rigetti.
Additionally, Q-CTRL has built commercial engagements with major defense primes, the Australian Department of Defence, and the UK Navy’s Office of the Chief Technology Officer focused on quantum-assured navigation in GPS-denied environments. The company has also developed Black Opal, an award-winning edtech program that enables users to quickly learn quantum computing.
Quantum Workforce Development
Q-CTRL has directly tackled the challenge of quantum workforce development, rolling out its Black Opal quantum education software at national and state levels in the UK, Tamil Nadu in India, and among major corporate clients. This effort aims to build the quantum workforce of the future, addressing a critical need in the emerging quantum industry.
Field-Deployment of Quantum Sensors
Q-CTRL has led the field-deployment of quantum sensors for defense and commercial applications. The company performed a world-first deployment of “software-ruggedized” quantum gravimeters on maritime vessels, demonstrating its software stabilization technology made the difference between complete loss-of-signal and useful performance. This achievement underpins new commercial opportunities providing a GPS backup in maritime and airborne vehicles.
Q-CTRL is a key player in the global quantum technology industry as a category-defining business for quantum infrastructure software. The company’s global leadership in quantum sensing for defense and dual-use was featured in The New York Times. Founded by Michael J. Biercuk in November 2017, Q-CTRL has assembled the world’s foremost team of expert quantum-control engineers, providing solutions to global quantum technology leaders including Fortune 500 companies, startups, national research labs, and academic institutions.
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