![]() It plans to host a range of events at the new Quantum Terminal to connect potential investors and budding entrepreneurs. SQA is a partnership between Macquarie University, UNSW Sydney, the University of Sydney and University of Technology Sydney that is building Australia’s quantum economy with support from the New South Wales Government. “Australia has the brainpower to play a major part in the future of quantum technologies globally,” Bartee said. ![]() It includes $70 million for a Quantum Commercialisation Hub, which will build strategic partnerships with other countries to turn Australia’s quantum research into commercial opportunities.Īnd in the same month, Tech Central’s Quantum Terminal in Sydney opened its doors to its first tenants – QuintessenceLabs, Q-CTRL, Sydney Quantum Academy (SQA) and Quantum Brilliance. “There’s almost been no better time to get a venture funded,” Sharma said.Īustralia is becoming fertile ground for tomorrow’s hottest quantum tech startups, with the Federal Government announcing a $111 million investment into the sector in November last year. ![]() Three months later, an Australian company developing quantum control firmware, Q-CTRL, secured US$25 million in a Series B round led by Silicon Valley venture capital company Airbus Ventures. In August 2021, quantum computer hardware start-up Quantum Brilliance snapped up $13.4 million in a seed funding round led by Main Sequence and the founders of QxBranch, which produces quantum computer applications. In May 2017, Silicon Quantum Computing launched with over $83 million in capital funding from the Australian Government, University of New South Wales (UNSW) Sydney, Telstra, and the Commonwealth Bank of Australia. QuintessenceLabs’ success story reflects the growing appetite among venture capitalists for Australian-grown quantum technology companies. “Everybody is starting to understand that systems are vulnerable, and we felt that QuintessenceLabs is part of the solution and has a good future going forward,” he said. The company’s winning combination of good market timing, large revenue and strong product portfolio was what caught the eye of Bill Bartee, co-founder and managing partner of Main Sequence, during the latest funding round. ![]() “We’re really looking forward to the next step of building an Australian headquartered quantum cybersecurity company that serves the global market,” Sharma said. QuintessenceLabs will use its fresh funding to expand its global footprint, including establishing offices in the United Kingdom and developing strategic partnerships in Japan and India. ![]() In October last year, the Canberra-headquartered company picked up $25 million in a Series B round led by CSIRO innovation fund Main Sequence and Canadian investment firm Telus Ventures. “At the time, investments in deep tech were few and far between and venture capital markets were shallow,” he said.įast forward 14 years, and QuintessenceLabs has grown into a global leader in the emerging field of quantum cybersecurity, counting Westpac Group and the Australian Department of Defence in its swelling pool of investors. ![]()
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