China’s Origin Quantum Secures $148M Series B Funding Round

Origin Quantum, a quantum computing startup based in Hefei, China and founded in 2017 by Professor Guo Guoping and a team from the quantum information laboratory at the Chinese Academy of Sciences, has just closed a $148-million Series B (1 Billion Yuan) funding round.

The round, which was led by the government-backed Shenzhen Capital Group’s Hotland Investment Asset Management with additional participation from CITIC Securities and China International Capital Corporation (CICC), Bank of China Group Investment Limited (BOCGI) and several other Chinese investment institutions, goes on top of the $15.4 million (100 Million Yuan) the startup received in a Series A funding round back in January 2021.

Origin Quantum is a leader in China’s quantum computing industry. The business is working on a suite of offerings across the quantum computing stack:

• Quantum Computers
  • Superconducting (the business currently offers a 24 qubit device)
  • Semiconductor (quantum dots)
• Hardware
  • Control systems and instruments
  • Cryogenic equipment
  • Room temperature hardware such as amplifiers
• Software
  • Origin Pilot (operating system)
  • QPanda (programming framework)
  • VQNet (Machine Learning framework)
  • QRunes (quantum programming language)
  • Qurator (integrated development environment
• Applications
  • ChemiQ (quantum chemistry)
  • OriginQ QCFD (fluid dynamics)
  • Option Strategy and Portfolio Optimization

Other Chinese quantum computing players include TuringQ and Qudoor.

For more details on the round, please visit Deal Street Asia for the full story.

For more market insights, check out our latest quantum computing news here.