Horizon Quantum Computing raised $12 million in Series A funding from Tencent Holdings, according to a story in Deal Street Asia. We understand that this is part of a wider funding round that is in process.
Horizon Quantum Computing is based in Singapore and led by Joseph Fitzsimons, who is CEO and a founder of the company, and chief science officer Si-Hui Tan. According to TQI, the company develops tools to simplify the process of developing quantum software applications and make quantum computing more accessible and practical.
“What we’ve been trying to do is to help automate the process of creating quantum algorithms and provide enough abstraction so that the programmer doesn’t actually need to understand the underlying computational model,” Fitzsimons said in a previous interview for The Quantum Insider.
Tencent is a multinational technology and entertainment leader and holding company based in Shenzhen, China. The company has a deep interest in quantum computing and has created its own quantum computing lab.
Horizon had previously raised $3.2m in seed-plus funding and is backed by Sequoia Capital India, SGInnovate, Abies Ventures, DCVC, Qubit Protocol and Summer Capital.