07:16 AM EDT, 10/08/2024 (MT Newswires) -- Salesforce ( CRM )-backed (CRM) quantum technology startup Q-Ctrl said Tuesday that it has raised $59 million in a Series B-2 all-equity funding round with the participation from Lockheed Martin's ( LMT ) venture capital arm.

Q-Ctrl said the new capital injection expands its Series B funding round, which was led by GP Bullhound, to $113 million.

Q-Ctrl said the new funding round valued the company higher than the previous round without providing details.

Q-Ctrl said it will use the new capital to invest in quantum control R&D and product engineering.

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