Quantum Brilliance raises $30 million for its diamond-powered computers
Breakthrough Victoria and the National Reconstruction Fund have invested in Quantum Brilliance’s fresh $30 million investment round.
Quantum Brilliance has secured a $10 million investment from Breakthrough Victoria and $13 million from the National Reconstruction Fund Corporation (NRFC), as part of a $30 million Series A funding round that also includes offshore investors.
This follows a $25.7 million raise in 2023 and $13.4 million in 2021, which supported Quantum Brilliance in scaling production, refining manufacturing processes, and deploying its quantum accelerators to facilities worldwide.
This is the second investment to come from the NRF’s $15 billion fund. Last month, it invested $40 million into Queensland mining services company Russell Mineral Equipment.
According to Quantum Brilliance, the fresh funding will be used to establish Australia’s first quantum diamond foundry, advancing the design and fabrication of diamond quantum devices.
Quantum Brilliance’s point of difference is that it develops diamond-based quantum technology. This enables compact and energy-efficient quantum devices that can operate at room temperature.
Unlike traditional quantum systems that require cryogenic cooling or more complicated setups, Quantum Brilliance uses synthetic diamonds as a stable medium for quantum computing and sensing.
These devices are small, rugged and scalable, making them suitable for integration into existing infrastructure and a variety of environments, from data centres to satellites.
“We are building a future where Australia leads the world in diamond quantum technology,” said Quantum Brilliance CEO and co-founder Mark Luo on Tuesday.
“This capital partnership not only strengthens our leadership in the global quantum diamond value chain but also positions Australia to become a hub for mass-deployable quantum diamond devices.”
The foundry will also support the Research Hub for Diamond Quantum Materials. This was established in 2022 in partnership with La Trobe University and RMIT University with the aim to further strengthen local expertise in quantum technology.
“This investment in fabricating quantum diamonds in Australia will provide the local quantum technology industry with a significant boost. It will create many new highly skilled jobs and give Australia an advantage in the global race to develop mass-deployable quantum technologies,” said NRFC Chair Martijn Wilder said.
Breakthrough Victoria’s investment into Quantum Brilliance is being described as a follow-on investment, with acting CEO Lauren Morrey emphasising the strategic importance of the $10 million follow-on investment in a statement on Tuesday.
“The world’s first quantum diamond foundry will drive innovation in advanced quantum computing and sensing, create highly skilled local jobs, and grow our emerging quantum industry. This investment reinforces Victoria’s position as a hub for cutting-edge technology and manufacturing excellence,” Morrey said.
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