Shoal congratulates Quantum Brilliance as NRFC announces $13m investment

Shoal Group congratulates Quantum Brilliance, who have received another boost in funding. Announced yesterday, the National Reconstruction Fund Corporation (NRFC) has made a $13 million equity investment in Quantum Brilliance. The investment will be used to create one of the world’s first foundries for quantum diamond devices.

Quantum Brilliance is a leader in diamond-based quantum technology, creating miniaturised, room-temperature quantum computing products and solutions. Their diamond foundry is a world first, fabricating quantum diamonds for a wide range of potential applications across quantum computing, sensing and networking.

The investment by the NRFC is part of Quantum Brilliance’s Series A funding round. Shoal founder and CEO, Shaun Wilson, was part of a consortium of serial entrepreneurs and investors to provide $13m seed funding to Quantum Brilliance in August 2021. Shaun was also lead founder of QxBranch, Australia’s first quantum computing software company, which was acquired by Rigetti. Shoal Group collaborates with Quantum Brilliance in development of ideas for complex systems involving edge quantum computing.

About

NRFC was established by the Australian Government to increase the flow of finance into seven priority areas of the Australian economy. The priority areas are:

1. Resources
2. Transport
3. Medical science
4. Defence capability
5. Renewables and low emission technologies
6. Agriculture, forestry and fisheries
7. Enabling capabilities.

It has $15 billion to invest to contribute to diversifying and transforming Australian industry and the economy.

Read more

• ‘NRF backs Quantum Brilliance with $13m investment’, James Riley, Innovation Aus, 10 Dec 2024
• Shoal Group congratulates Quantum Brilliance on contract with Germany’s Cyber Agency
• Shoal Group congratulate Quantum Brilliance on collaboration with Oak Ridge National Laboratory
• Quantum computing to lead the way on Earth and in space
• Quantum computingsoftware and services company founded by Shoal
• Rigetti Computingacquires Shoal spin-out QxBranch
• Lockheed Martin and Aerospace Conceptsworld-first commercial quantum computing research collaboration.

Media contact:

Shaun Wilson
CEO and Founder, Shoal Group
+61 438 394 288
[email protected]