diff --git a/qiskit_machine_learning/VERSION.txt b/qiskit_machine_learning/VERSION.txt
index 0d91a54c7..9e11b32fc 100644
--- a/qiskit_machine_learning/VERSION.txt
+++ b/qiskit_machine_learning/VERSION.txt
@@ -1 +1 @@
-0.3.0
+0.3.1