Quantum Brilliance secures $25.8 million funding

Canberra-based developer of miniaturised quantum computing products, Quantum Brilliance, will expand its international operations following a fund raising round of $25.8 million, backed by government and high-profile backers.

The capital raise will also serve to develop the further the synthetic diamonds based hardware products and towards improving its manufacturing and fabrication techniques.

The company has already established an office in Stuttgart, Germany.

The local innovators are eyeing the global opportunity of a market estimated by McKinsey to be worth US$700 billion globally by 2035.

Chief executive Andrew Horsley, chief science officer Marcus Doherty and chief operating offiver Mark Luo are the founders of Quantum Brilliance.

The trio is focusing on a long term vision to enable mass deployment of quantum accelerators.

Investors in this round include Main Sequence, Investible, Ultratech Capital Partners, MA Growth Ventures, Jelix Ventures, Rampersand and CM Equity Partners.

The Victorian Government’s $2 billion investment arm, Breakthrough Victoria, also contributed $8 million to the quantum technologist.

This as part of a drive to establish Victoria as a global player in this emerging sector.

Quantum Brilliance has a joint research collaboration with La Trobe and RMIT universities and Breakthrough Victoria’s investment will support the company to expand its Melbourne operations and its extensive research partnerships with several Victorian universities.

“Quantum technologies have the potential to revolutionise industries that rely on computing power to solve complex problems and we’re investing to ensure world-leading research and advanced manufacturing happens right here,” said Victorian Minister for Industry and Innovation Ben Carroll.

The company also established the Research Hub for Diamond Quantum Materials in April 2022 in Victoria, to enhance the computational power of diamond-based quantum computers with techniques that can transition to manufacturing systems in large volumes.

Plans are in place to expand this hub and continue to work with research partners to offer industry PhD positions in Victoria to build out the next generation of talent in Australia.

"We see Victoria as a crucial launch pad for Australia in quantum technologies and a natural partner for Quantum Brilliance," Doherty said.

"Victoria has world-leading advanced manufacturing capabilities in alignment with our diamond quantum computing technology," he added.

The company was founded by diamond quantum scientists at Australian National University in 2019.

It developed the first portable quantum computer that operates at room temperature using the crystalline structure of diamonds as an insulator against noise and temperature.

This innovation gears diamond quantum computing technology toward medical imaging, satellite technology and robotics, autonomous vehicles and spacecraft.