Homegrown quantum start-up wins unicorn status with $420m raising

Detailed summary

Q-CTRL started off building software that makes quantum computers useful to business, but has since developed a navigation system in partnership with Airbus.

Australian quantum computing software company Q-CTRL has bucked the cautious global technology investment market to land one of the year’s biggest funding rounds, crashing through the unicorn billion-dollar valuation milestone.

The $US290 million ($424 million) capital raising was led by Salesforce Ventures and backed by global and Australian venture capital funds, as well as the federal government’s National Reconstruction Fund (NRF).

Opening of the article, excerpted from Australian Financial Review. To read the rest, open the article on the publisher's site.