SpinQ Technology

Summary

SpinQ Technology, a Chinese quantum computing company, has raised a 600 million yuan (about $83 million) Series C+ financing round, bringing its total Series C funding to nearly 1 billion yuan in three months. The oversubscribed round was driven by a consortium of industrial and state-backed investors, including Guotai Junan Innovation Investment, Cornerstone Capital, and Sichuan Zhenxing Group. SpinQ – one of the few companies working on both superconducting and NMR quantum architectures – will use the new funds to ramp up R&D of high-qubit superconducting quantum chips and expand standardized production lines.