Q-CTRL announced on Thursday a $290 million (A$415 million) Series C round led by Salesforce Ventures, with significant participation from Bullhound Capital and Affinity Partners. New investors include AMD Ventures and EDGE Group; returning investors include In-Q-Tel and Lockheed Martin Ventures. According to the company, the round was expanded twice to meet demand and made it a unicorn. The valuation was not disclosed.
Q-CTRL builds infrastructure software that uses AI to get useful results from noisy quantum computers and to run quantum sensors in field conditions. Its flagship product, Ironstone Opal, is a quantum navigation system designed to work when GPS is unavailable or jammed, and according to the company it is being deployed on commercial aircraft and autonomous vehicles.
The company says it will use the money to expand its software products and international operations and to continue its autonomy and aerospace programs. The performance and customer claims come from the company's announcement and have not been independently verified.