March 04, 2024 -- Maybell Quantum (“Maybell”), the quantum infrastructure company, has closed a $25 million funding round led by an affiliate of Cerberus Capital Management, L.P. (“Cerberus”), a global leader in alternative investing. This investment marks the start of a pivotal chapter in Maybell’s development.

With Cerberus’ financial backing and operational support, Maybell intends to scale manufacturing and open a new production facility in 2024.

“Beyond expanding our manufacturing capabilities, establishing a new production facility, and continuing to invest in our MayQ Labs, this funding will help Maybell continue to invest in the types of game-changing innovations people have come to expect from us,” Corban Tillemann-Dick, CEO of Maybell, said in an email interview with The Quantum Insider. “Also, critically, we’re ensuring that our customer support services are unmatched, globally. This holistic approach ensures that every dollar invested contributes directly to our customers’ success, today and going forward.”

Founded in 2021, Maybell has quickly established itself as a global leader in quantum infrastructure performance and innovation. Their cryogenic platforms – the Fridge and the Big Fridge – offer premier reliability and usability for researchers and entrepreneurs. In 2023, Maybell launched MayQ Labs, expert-managed quantum research spaces in Denver and Copenhagen offering leading-edge tools to entrepreneurs in an effort to democratize and accelerate progress in quantum innovation.

“Infrastructure is the bridge between ambition and achievement,” said Tillemann-Dick. “This investment will help accelerate the deployment of Maybell systems worldwide to continue laying the foundation for the quantum century, while providing researchers and entrepreneurs the tools they need to transform the theoretical into the tangible.”

Maybell is playing a vital role in building the country’s quantum infrastructure, according to Tillemann-Dick.

“It is essential to invest in domestic quantum infrastructure capabilities,” said Tillemann-Dick. “The US can’t afford to have what happened with 5G and Huawei happen with quantum. This funding is critical, as it will allow us to dramatically expand US quantum cryogenics production capacity and support a supplier ecosystem around that, while enhancing our international footprint for service, support, research, and MayQ Labs.”

In connection with the investment, Chris Darby, Global Head of Venture Investments at Cerberus, will join the Maybell Board of Directors. From 2006 until 2023, Mr. Darby served as the CEO of In-Q-Tel, the independent strategic investment firm focused on identifying innovative technologies in support of the U.S. Intelligence Community. He joined Cerberus in 2023 to lead the Firm’s early-stage investing strategy, which focuses on disruptive commercial technologies that increase security for the United States and partner nations.

“Breakthrough technologies, and the infrastructure that enables them to thrive, are integral to national security,” said Mr. Darby. “The Maybell team is laying the groundwork with powerful, scale-ready quantum infrastructure solutions to support quantum computing advancements. This isn’t simply an investment in technology; it’s an investment in a future secured by quantum capabilities and a commitment to stay several steps ahead in a rapidly evolving global landscape.”

Mr. Tillemann-Dick continued, “We are thrilled to receive the endorsement and support of Chris and the team at Cerberus. We are excited about the opportunity to partner with one of the world’s venerable investment firms.”

Investing alongside Cerberus in the round are Maybell’s existing investors, Lavrock Ventures, Mark IV Capital, In-Q-Tel, Decisive Point, Caruso Ventures, and Olive Capital.

“In every technological revolution, the architects of the initial infrastructure shape the trajectory of the industry,” said Steve Smoot, General Partner at Lavrock Ventures. “Lavrock is excited to support Maybell in their quest to expand the horizons of quantum technology. This investment reflects our dedication to fostering innovative solutions poised to tackle global challenges.”

The real differentiator is innovation, said Tillemann-Dick.

“Maybell has completely changed the game in quantum cryogenics,” said Tillemann-Dick “Others may try to imitate us, but innovation is in our DNA. Our cryogenic platforms, including the Fridge and the Big Fridge, not only offer superior performance and scalability but do so with an emphasis on ease of use and reliability. Our systems offer 10x the qubits in 1/8th the space, infinite-lived nitrogen-free cold traps, and un-matched reliability and uptime. Moreover, our MayQ Labs democratize access to quantum research, removing barriers for innovators worldwide. This combination of advanced technology and an inclusive business model sets us apart in the quantum landscape.”

Through its commitment to technological excellence, customer centricity, and strategic collaborations, Maybell Quantum will continue to support and advance the quantum industry alongside its global partners.