Overview

Q-CTRL develops software solutions for the quantum technology industry, focusing on quantum infrastructure software that enhances the performance of quantum computers. Their technology helps in optimizing quantum hardware and is also used to create advanced quantum sensors for defense and intelligence applications. Q-CTRL stands out from competitors by having strong partnerships with major organizations like IBM Quantum and the Australian Department of Defence, which integrate their software into existing systems. The company's goal is to accelerate the development of practical quantum computing and sensing technologies, making them accessible for various industries including finance, pharmaceuticals, and logistics.

Simplify's Take

What believers are saying

• Q-CTRL secured $113 million in Series B funding for expansion.
• Partnerships with IBM and Rigetti enhance Q-CTRL's technological capabilities.
• Q-CTRL's new San Francisco office boosts its U.S. market presence.

What critics are saying

• Rising competition from quantum startups like Rigetti and Diraq.
• Dependence on major partners like IBM and Lockheed Martin poses risks.
• Rapid tech advancements could render Q-CTRL's current technologies obsolete.

What makes Q-CTRL unique

• Q-CTRL leads in quantum infrastructure software, partnering with IBM and Transport for NSW.
• Q-CTRL's quantum sensors are pivotal for defense and intelligence applications.
• Q-CTRL is recognized globally, being a World Economic Forum Global Innovator.

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Funding

Total Funding

$128M

Above

Industry Average

Funded Over

2 Rounds

$59,000,000

Series B

Oct 2024

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Above Average

Industry standards

Ind Avg. $35M

$4M

$30M

$45M

$59M

$65M

$100M

View all funding stages