According to China Daily, Chinese quantum leader, Origin Quantum, announced that it has raised over 100 million yuan ($15.45 million) in its series A round of fundraising.
The company is a full-stack quantum computer provider based in Hefei.
China Internet Investment Fund led the new round was led by and attracted investors including Guoxin Fund, CICC Qizhi, Chengdu Industrial Investment, CCB International, Zhongke Yucheng, Zhongtian Fortune, as well as Pangu Turing.
Funds are slated to be used in research and development, specifically for more advanced quantum computing machines, quantum chips, quantum measurement and control technology as well as talent cultivation, the company told the newspaper.
Professor Guo Guoping of the University of Science and Technology of China, who is one of the country’s leading researchers in the semiconductor quantum chip field, founded Origin Quantum was founded in 2017.
In the past, the company reported advances in the superconducting quantum computer Wu Yuan, an all-physics system quantum learning machine and the first domestic quantum computer control system, China Daily reports.