Q-CTRL Raises $290 Million as Salesforce Ventures Backs the Software Behind Quantum Machines

Q-CTRL has raised $290 million in a Series C led by Salesforce Ventures, putting a substantial pool of private capital behind software that helps quantum technology work outside a laboratory. The company announced the financing on November 12.

Q-CTRL says the round makes it a unicorn, although the announcement does not give an exact valuation. Bullhound Capital and Affinity Partners participated, alongside a wider group of new and returning investors.

The investment reaches beyond computing

The company builds infrastructure software for quantum machines and sensors. Its expansion plans include quantum computing in data centers and navigation systems for aircraft and autonomous vehicles.

Its Ironstone Opal navigation system is designed to operate when GPS is unavailable. The financing will support wider deployment of navigation systems alongside further development of the company's software capabilities.

That gives the investment two different commercial paths. Computing depends on turning difficult calculations into useful customer work. Navigation depends on making sensitive equipment reliable enough for vehicles to use in the field. The shared software strategy does not remove either challenge.

Big backers, limited financial detail

New investors include AMD Ventures and Australia's National Reconstruction Fund Corporation. Returning investors include Lockheed Martin Ventures and Square Peg.

Q-CTRL says the round was expanded twice to accommodate demand. Its release offers no revenue figures, profitability timetable or detailed allocation of the proceeds.

The fundraising establishes that investors are willing to finance the next stage. The financial return will depend on how far the company's software and navigation products turn that capital into paying deployments.

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