King & Wood Mallesons (KWM) has advised Silicon Quantum Computing (SQC) on its $50.4m Series A capital raising, a significant achievement on their quest to create the world’s first logical qubit in silicon.
The funding was raised from existing investors including the Australian Government, University of New South Wales, Commonwealth Bank and Telstra.
The transaction demonstrates SQC’s rapid growth from a valuation of $82 million to $195 million and highlights the broad support for the growth of quantum computing in Australia.
The KWM team was led by Partners, Anthony Boogert and Scott Bouvier with support from Senior Associates, Johnson Pang and Karen Litherland. The KWM worked closely with SQC’s General Counsel Sarah Longes.
Commenting on the deal, Partner, Anthony Boogert said:
“We are delighted to act for SQC with their $50.4m Series A capital raising. This is a fantastic outcome in the difficult fundraising environment, which will further support SQC’s growth in this important space.”
Further commenting on the deal, Scott Bouvier said:
“We have worked closely with SQC since its creation in 2017 on their IP, R & D and commercial arrangements and we are delighted to have supported them on this next step in their evolution”.
