The invention of the semiconductor laid the foundations for computers to become a commonplace utility. Where once computers were bulky mainframes taking up rooms of space, the semiconductor turned them into the mobile objects we use today. Quantum Brilliance’s technology is leading the way for the same revolution in quantum computers.
Quantum Brilliance was the first portfolio company in the Investible Early Stage Fund 2, with our initial investment in 2021. For an insight into our initial investment and a deeper dive into QB's unique technology, have a read of our initial investment notes here.
Today, we’re delighted to announce our participation in Quantum Brilliance’s USD$18m Pre-Series A round via the Early Stage Fund 2 with an additional USD $600K+ invested by members of Club Investible, our specialised investor syndicate. The fundraise, led by Breakthrough Victoria, also included investment from Main Sequence, Ultratech Capital, MA Financial, Jelix Ventures, Rampersand, and CM Equity.
We are about the synergy between passionate people and audacious ideas. When we invest in a company at an early stage, we know how crucial it is to continually support them as that audacious idea becomes reality. This investment marks the next chapter of our ongoing relationship with Quantum Brilliance.
We’re fortunate to have witnessed this company’s progress first-hand since our initial investment and our conviction in Quantum Brilliance’s upward trajectory has only grown stronger as their results speak for themselves. “We are proud that our achievement in taking quantum computing from the lab to the data centre has been recognised by the investment community,” said Andrew Horsley, co-founder and CTO of Quantum Brilliance.
“Since our initial investment, we’ve seen Quantum Brilliance make strides not only in developing their product but in finding strong paths to commercialisation,” remarked Joanna Ng, Investment Manager at Investible.
“We’ve seen the team grow to over 85 staff including deeply experienced talent including former Citibank CFO George Robinson and former IBM executive, Mark Mattingley-Scott. This, partnered with their recent partnerships with Fraunhofer IAF, NVIDIA and now Breakthrough Victoria, gives them significant strategic footholds in realising their vision of a hybrid quantum-classical computer,” she continued.
Australia punches above its weight in the quantum computing sector. According to the Tech Council of Australia, more than 3% of global quantum start-ups originate in the country, compared to 1.7% of start-ups on average. As this market accelerates, Quantum Brilliance has become a forerunner in shaping Australia’s quantum industry, becoming a founding member of the Australian Quantum Alliance.
This round’s funding will be used to expand their international operations, deliver hardware and software products to customers, and improve manufacturing and fabrication techniques. Quantum Brilliance will also enhance the performance of its room-temperature quantum computers and further develop software and application offerings.
Commenting on the investment Investible CEO Rod Bristow noted that “Quantum Brilliance is a great example of what Australian innovation can look like. They’ve built incredible technology, are a supremely capable team, and have demonstrated how important it is to position for global expansion from day one.”
“This investment also marks the strength of our model, with Club Investible members and Funds co-investing into the round. Quantum Brilliance was originally referred by a Club member, and the network continues to actively support the team as they make a dent in the future of quantum computing.”
We look forward to backing Mark, Marcus, and Andrew into the future and are excited to witness how this pioneering team will transform the computing industry.
Founded in 2019, Quantum Brilliance is a venture-backed quantum products and solutions company developing diamond quantum computers supported by software and applications. Quantum Brilliance’s goal is to enable mass deployment of its quantum technology to propel industries to harness edge computing applications and next-generation supercomputers. Quantum Brilliance has global partnerships in the Americas, EMEA and Asia Pacific, working with governments, supercomputing centres, research organisations and industry.