Maybell Quantum Announces $25M Series A Funding Led by Cerberus

Denver, CO – March 4, 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.

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 Corban Tillemann-Dick, CEO of Maybell. “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."

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 ina 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, Caruso Ventures, Mark IV Capital, Decisive Point, In-Q-Tel, 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."

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.

About Maybell Quantum

Founded in 2021, Maybell Quantum is a Denver-based quantum infrastructure company. Maybell's mission is to deliver the world's best tools to solve the toughest quantum challenges, offering solutions that are more accessible, reliable, and performant. Maybell has offices in Denver and Copenhagen.

About Cerberus Capital Management

Cerberus is a global leader in alternative investing with approximately $65 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where we believe our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value.

Contacts:

Maybell Quantum

media@maybellquantum.com

Cerberus

media@cerberus.com

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