Q-Ctrl, an Australian quantum software company, has secured a massive $290 million investment round led by Salesforce Ventures. The funding values the startup at over $1 billion, highlighting the growing interest in quantum technology. Existing investors, including the CIA’s venture capital arm In-Q-Tel and Lockheed Martin Ventures, joined the oversubscribed round, as announced by Q-Ctrl on Thursday.
New investors in this round include Jared Kushner’s Affinity Partners, AMD Ventures, and the United Arab Emirates defense conglomerate Edge Group. The participation of such high-profile backers underscores the strategic importance of quantum software in both commercial and defense sectors.
The investment comes as quantum computing continues to gain traction, with companies and governments worldwide racing to develop and deploy the technology. Q-Ctrl’s software solutions are designed to enhance the performance and reliability of quantum systems, making them a key player in the emerging quantum industry.