Breakthrough Victoria’s AUD$29 million investment in Infleqtion, as part of the company’s US$110 million capital raise in 2022, exemplifies how Breakthrough Victoria’s strategic investment delivers economic and innovation outcomes for Victoria. With Infleqtion now preparing to list on a US stock exchange via a SPAC at a valuation of US$1.8 billion (A$2.7 billion), the potential for a strong financial return is clear.
Founded as ColdQuanta and spun out from the University of Colorado in 2007, Infleqtion designs and builds quantum computers, precision sensors, and quantum software for governments, enterprises, and research institutions. It is developing neutral atom-based technology for products such as their Sqale quantum computer and Sqywire, an innovative Quantum Radio Frequency (QRF) receiver system leveraging Rydberg atomic states to detect RF signals—without traditional antennas or solid-state analog receivers. They are also building their next generation optical atomic clock for Position Navigation and Timing offering, known as Tiqker.
As part of Breakthrough Victoria’s investment, Infleqtion is proactively laying the groundwork for a thriving quantum technology sector in Victoria—aligning directly with Breakthrough Victoria’s mission to transform the Victorian economy by investing in and supporting the successful commercialisation of intellectual property and research.
Infleqtion’s work spans quantum sensing, timing, navigation, and computing—technologies that are reshaping industries from energy and infrastructure to life sciences and advanced manufacturing. With operations anchored at Melbourne Connect and CoLabs in Notting Hill, Infleqtion is rapidly expanding its Victorian footprint through strategic collaborations, talent development, and product innovation.
Building Victoria’s Quantum Ecosystem
Infleqtion is actively partnering with Swinburne University, Melbourne University, RMIT, and CSIRO to develop next-generation quantum sensing platforms. These include AI-driven optical lattice interferometers and vortex-based rotating atom interferometers, which aim to revolutionize Positioning, Navigation, and Timing (PNT) systems—critical for GPS-denied environments and resilient infrastructure.
As part of the Industry Growth Program, Infleqtion is exploring flight trials and demonstrations of quantum-based PNT systems in collaboration with leading industry bodies. These efforts will help benchmark performance and unlock cross-domain applications.
Events and Thought Leadership
Infleqtion is actively contributing to Australia’s quantum dialogue including:
- Hosting monthly Quantum Networking Sessions at Melbourne Connect, with 70+ attendees in August and strong momentum heading into September.
- Participating in national and international conferences including Quantum meets Biotech, qLIFE 2025, Avalon Airshow, IndoPac25, ANZCOP and the Australian Institute of Physics Summer Meeting.
Training the Quantum Workforce
Infleqtion is also a key industry partner in two newly awarded Australian Research Council Industrial Transformation Training Centres (ITTCs):
- Future Leaders in Quantum Computing (University of Sydney-led)
- Current and Emergent Quantum Technology (University of Adelaide-led, with RMIT as a partner)
These programs provide PhD and postdoctoral researchers with hands-on experience using commercial quantum devices like Infleqtion’s Tiqker and quantum systems, helping build a pipeline of industrially trained quantum talent in Victoria.
Finally, Infleqtion also supports the Next Generation Quantum Graduates Program, contributing to the development of miniaturised cold atom platforms and integrated quantum experiments.
Breakthrough Victoria’s Impact
With 69 investment commitments totalling $480 million, BV is one of Australia’s most active early-stage technology investors. A recent independent report by EY-Parthenon* found BV’s portfolio is on track to generate $5.3 billion in economic impact for Victoria by 2035. It also found 88 per cent of early-stage investment in Victoria in 2024 came from BV backed investors, and 76 per cent of all venture stage investment in Victoria in 2024 involved BV.
BV investments like Infleqtion show not only the potential of Breakthrough Victoria to provide financial return, but also create the future industries that will provide long-term sustainable economic transformation and skilled employment opportunities in Victoria.
*EY Parthenon (2025) Fostering the innovation ecosystem: the economic impacts of Breakthrough Victoria’s portfolio