Desktop Quantum Computer Maker SpinQ Raises $14.4 Million (US) in Pre-B Round Funding Round, Eyes Superconducting QC

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SpinQ Technology completed a Pre-B round of financing of nearly 100 million yuan, or about $14.4 million US, earlier this fall, according to sources in China. SpinQ, which builds desktop quantum computers, plans to use the funds for product iteration, market expansion and team expansion.

Shenzhen Bay Angel Fund Phase III led the investment, followed by Heshun Investment and old shareholder Gaoxin Investment, sources report.

The company, which was formed in 2018 to produce practical quantum computers, focuses on the independent research and development of practical superconducting chip quantum computers, desktop nuclear magnetic resonance quantum computers and quantum computing-related software, promoting the implementation of quantum computing algorithms and applications, and empowering artificial intelligence, according to sources.

The team expects its quantum computers will one day be use in fields such as intelligence, financial technology and drug research and development.

“The goal of quantum computing is very clear, which is to provide much higher computing power than existing computers. Therefore, quantum computing is the basic technology for a new round of technological revolution and industrial transformation. It can solve computing tasks that classical computers cannot solve. , It will also have a subversive impact on many industries.” Dr. Xiang Jingen, founder and CEO of SpinQ Technology, said: “Through decades of accumulation, quantum computing has gone from theoretical research in the laboratory to early productization. stage, is leaping to the stage of industrialization, and industry applications, as a key link in the quantum computing industry chain, are related to the ultimate realization of the value of quantum computing.”

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SpinQ’s roadmap focuses on its three main business areas: a desktop quantum computer, superconducting chip quantum computer and quantum computing algorithms and software.

Earlier the company released of small quantum computer and has set milestones, such as the launch of the quantum computing cloud platform and the release of the superconducting quantum computing prototype.

The company claims it built the world’s first desktop NMR quantum computer, called “Gemini.” The company added it will build on this success to develop a new 3-qubit desktop NMR quantum computer “Triangle” and a 2-qubit portable NMR quantum computer “Gemini mini.”

The device is primarily a learning tool, the sources suggest.

“Equipped with a complete quantum computing teaching course, it supports users to freely write quantum computing programs, which is beneficial for audiences with different knowledge backgrounds to quickly grasp the basic knowledge of quantum computing and algorithm design, and has the characteristics of low cost, maintenance-free and high stability,” the report states.

SpinQ reports several achievements in the article, including a superconducting chip quantum computer prototype, research and development of superconducting quantum chip and radio frequency measurement and control system, and the development of quantum cloud platform, quantum operating system and application software.

Integration is a key part of SpinQ’s overall strategy claiming that it is “promoting an independent and controllable full-chain integration strategy in an all-round way.”

Its quantum cloud platform, “Taurus,” can link the cloud service platform of multiple quantum computing systems, allowing users access to multiple quantum computing hardware devices including the nuclear magnetic resonance system and superconducting chip system, as well as support multiple quantum computing systems.

The  team, led by chief scientist Professor Zeng Bei from the Hong Kong University of Science and Technology, also includes quantum computing experts from Tsinghua University, University of Science and Technology of China, University of Waterloo and University of Washington.  The company’s scientific and technical advisory team includes Dr. Guo Yike, the world’s top artificial intelligence expert and the chief vice president of the Hong Kong University of Science and Technology.

More than 70% of all the company’s employees is involved in research and development, sources report. A large number of senior R&D personnel come from top research institutions including Harvard University, Massachusetts Institute of Technology, Tsinghua University, and University of Science and Technology of China.

Based on news reports from China translated by Google translate.

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

Matt Swayne

With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. [email protected]

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