Q-CTRL

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Quantum Computing?
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Q-CTRL is an Australian quantum software startup engaged in designing firmware frameworks to control qubits, by reducing qubit errors and improving qubit fragility (making the hardware more resistant to errors). 

The company offers four products: Black Opal (targeted at those exploring quantum computing), Boulder Opal (aimed at hardware makers), Open Controls (focused on the research community), and Fire Opal (for algorithm developers). The company also offers Quantum Professional Services to assist companies seeking to explore quantum computing using cloud-based platforms. Its key clientele includes hardware makers Rigetti, Bleximo, IBM, and AQT. In August 2023, Q-CTRL became the first quantum software startup to receive the ISO 27001 certification , which outlines guidelines for implementing an information security management system (ISMS) and managing risks related to data security.

Key customers and partnerships

Q-CTRL’s focus lies on building quantum technologies to be integrated into the aerospace and defense sectors. It had entered into partnerships that included those with Australia’s Department of Defence (July 2023) to develop quantum sensors for military platforms and Fleet Space Technologies (March 2021) to develop quantum sensing and navigation technologies. In addition, Q-CTRL has partnered with Keysight Technologies (March 2024) to accelerate the development, characterization, and scientific demonstrations of quantum processors; United States Geological Survey (January 2024) to explore the applications of quantum computing and sensing technologies in geological sciences; IBM (November 2023) to integrate Q-CTRL Embedded software IBM Quantum's Pay-As-You-Go Plan; Oxford Quantum Circuits (OQC) (July 2023) to improve the algorithmic performance of quantum computers; and Classiq (November 2022) to develop an end-to-end platform to accelerate quantum algorithm designing and analysis. 

Funding and financials

In February 2024, Q-CTRL secured a grant of GBP 1 million (~USD 1.26 million) from the Small Business Research Initiative (SBRI) Quantum Catalyst Fund Competition, conducted by the Department for Science, Innovation, and Technology (DSIT) and Innovate UK. The grant was allocated to develop new quantum-hardware-optimized algorithmic solvers based on Q-CTRL’s proprietary performance management software. 

HQ location:
The Quantum Terminal, Central Terminal Building, Level 2 1 Eddy Avenue Haymarket AUS
Founded year:
2017
Employees:
51-100
IPO status:
Private
Total funding:
USD 131.8 mn
Last Funding:
USD 59.0 mn (Series B; Oct 2024)
Last valuation:
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