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, the largest for a quantum software firm.
• The company expanded its U.S. presence with a new office in San Francisco.
• Q-CTRL's CEO received the 2024 NSW Pearcey Entrepreneur of the Year Award.

What critics are saying

• Increased competition could dilute Q-CTRL's market share in quantum computing.
• Rapid technological advancements may render current solutions obsolete, requiring constant innovation.
• Geopolitical tensions could impact international collaborations in the quantum sector.

What makes Q-CTRL unique

• Q-CTRL leads in quantum infrastructure software, partnering with IBM and Transport for NSW.
• The company develops unique software-defined quantum sensors for defense and intelligence.
• Q-CTRL's team includes top quantum-control engineers, serving global quantum technology leaders.

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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