BWA | JUL 2026 39 The company’s funding history reflects that growing credibility. In October 2024, Q-CTRL announced the expansion of its Series B to US$113 million (A$166 million) after adding US$59 million of new capital. The company said the round extension set a global fundraising record for quantum technology and accelerated timelines to quantum advantage. This followed earlier Series B expansions, including a 2023 announcement that brought the Series B total to US$52.4 million and added Salesforce Ventures to the cap table. That progression matters because it shows consistent conviction building over time rather than a single one-off funding spike. What makes Q-CTRL especially compelling is that it has not stayed trapped inside the quantum-computing lab. Its case-study and market materials show a deliberate push into quantum sensing and navigation, areas where the company argues quantum advantage may arrive sooner and prove commercially valuable earlier. The company says it is working with the Australian Department of Defence, the UK Royal Navy, the US Department of Defense, and Airbus on navigation solutions, while separate 2025 material says DARPA selected Q-CTRL to develop next-generation quantum sensors for advanced defense platforms, with support from Lockheed Martin. That partner set is especially important because it widens the startup story beyond quantum-computing enthusiasts. Q-CTRL is not just telling investors that quantum matters someday; it is showing that aero-
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