Maybell Quantum Secures $40 Million in Funding.
Maybell Quantum, a quantum infrastructure company that develops dilution refrigerators (cryostats) for keeping quantum computers at the low temperatures required for quantum states, recently announced the close of its $40 million Series B funding round. The round was led by Addition, with participation from existing investors, including Lavrock Ventures, Caruso Ventures, Mark IV Capital, Decisive Point, In-Q-Tel, and Olive Capital.
The capital will be used to support Maybell’s efforts to commercialize its next generation of cryogenic and RF systems. Plans also include increasing production capacity and expanding deployments throughout North America, Europe, the Middle East, and Asia.
According to Corban Tillemann-Dick, CEO of Maybell Quantum, the quantum computing sector is transitioning from research and proofs-of-concept to broader real-world applications. The new funding is expected to enable investment in advanced systems, manufacturing scale-up, global partnerships, and delivery of reliable, user-oriented infrastructure for quantum technology teams.
Todd Arfman, partner at Addition, commented that Maybell addresses key challenges in quantum computing by supplying essential infrastructure. He stated that Addition supports Maybell’s initiatives in advancing cryogenic technology and supporting the quantum technology framework.
Established in Colorado in 2021, Maybell launched commercially in 2022 with its Icebox (now the Fridge) dilution refrigerator, which is produced in the United States. The larger Big Fridge model, with increased cooling capacity, was introduced in 2023. In March 2024, the company secured a $25 million Series A round led by Cerberus.
Historically, cryostat manufacturers have worked primarily with academic laboratories. With growth in quantum computing, the industry has had to adapt to placing supercooling systems in data center environments. Oxford Instruments and Blufors are established companies in this sector, while other new entrants are focusing specifically on solutions for quantum computing.