Quantum Brilliance will use its $30 million capital raise in part to expand its Melbourne-based development facility to scale the manufacturing processes for the synthetic diamond-based chips destined for use in quantum devices for European and ‘JAUKUS’ industry partners.
The National Reconstruction Fund Corporation and Breakthrough Victoria announced investments of $13 million and $10 million to fund additional development work on the pathway to at-scale production, according to chief executive Mark Luo.
The funding is part of a Series A funding round, which also attracted additional investment from Main Sequence Ventures, that will be fully detailed next week. The round is expected to top out at $30 million.
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