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

The Australian Financial Review (AFR) •
November 12, 2026 • 01:00 PM
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Q-CTRL started off building software that makes quantum computers useful to business, but has since developed a navigation system in partnership with Airbus.

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

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).

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