A team with Tsinghua and Harvard backgrounds is developing quantum computers, with revenues doubling and securing hundreds of millions in financing | Exclusive from 36Kr

Author: Ou Xue

Editor: Yuan Silai

Yingke has learned that Shenzhen SpinQ Technology Co., Ltd. (hereinafter referred to as "SpinQ Technology"), a quantum computing enterprise, recently completed hundreds of millions of yuan in Series C financing. We have summarized the information of this round of financing and several highlights of the company:

Financing Amount and Leading Investor

Financing Amount: Hundreds of millions of yuan

Financing Round: Series C

Investors: Financial institutions such as Longli Technology, Yida Capital, Jingkai Capital, and Hengtai Huasheng

Use of Funds: Mainly used for the R & D of full - stack technologies for superconducting quantum computers, covering key directions such as new chip processes, quantum error correction, measurement and control systems, and whole - machine integration

Basic Company Information

Founding Time: 2018

Company Headquarters: Shenzhen

Core Products: The "Ursa Major" series of industrial - grade superconducting quantum computers; the "Gemini" and "Triangulum" series of educational - grade nuclear magnetic quantum computers; quantum software and cloud platforms (SpinQit programming framework, SpinQ Cloud).

Technological Highlights: It has the ability of full - stack independent R & D and chip mass production; focuses on quantum error correction technology and builds a "hardware - algorithm - control" collaborative system; has its own superconducting chip production line with an annual production capacity of thousands of chips.

Quantum chip laboratory/Photo source: The enterprise

Application Scenarios: It covers fields such as scientific research institutions, university education, financial technology, biomedicine, and material R & D, and has expanded to enterprise R & D scenarios.

Market Size

Quantum computing is regarded as a key direction to break through the bottleneck of classical computing power, and it has great potential especially in complex computing scenarios such as AI, finance, and medicine. The global superconducting quantum computing route has entered the stage of rapid industrialization and has become the focus of layout for major technology companies and research institutions. According to industry forecasts, quantum computing is expected to spawn a trillion - level industrial market.

Company Performance

SpinQ Technology has formed a business structure dominated by superconducting business. The revenue ratio of superconducting and nuclear magnetic business is about 6:4, and the proportion of superconducting in new orders continues to increase. In 2025, the company's orders and revenue both increased by more than 130% year - on - year. Previously, it successfully exported China's first superconducting chip and delivered the first superconducting whole machine overseas, and multiple "Ursa Major" whole machines are also being continuously delivered.

The "Ursa Major" superconducting quantum computer/Photo source: The enterprise

Team Background

The core team of SpinQ Technology has an international scientific research and engineering background. Most of the members are from globally renowned universities such as the Massachusetts Institute of Technology, Harvard University, the University of Cambridge, Tsinghua University, Peking University, and the University of Science and Technology of China. Xiang Jingen, the founder and CEO of the company, graduated from Tsinghua University with a bachelor's, master's, and doctor's degree in physics and was a post - doctoral fellow at Harvard University. He once served as an associate researcher in the field of quantum computing research at Harvard University.

Founder's Thoughts

Yingke: Currently, the superconducting business dominates the company's revenue and new orders. What does this mean for the company?

Xiang Jingen: The dominance of the superconducting business not only verifies the maturity of the technical route and products, but also shows that we are transforming from a company focusing on educational products to an enterprise with the ability to deliver industrial - grade computing power hardware on a large scale.

With the continuous improvement of product performance and the optimization of cost - performance, we have entered a positive cycle of accelerated commercialization - the more mature the products, the more orders; the more orders, the more resources we have to invest in the R & D of the next generation, forming a benign technology - driven growth model.

Yingke: What is the actual impact of the current AI boom on the development of quantum computing?

Xiang Jingen: The huge demand for computing power from AI is clear, and quantum computers will inevitably be needed in the future. However, in the short term, quantum computing cannot provide the computing power required by AI, and this is a process that takes time.

At present, a more realistic impact is that AI technology itself is feeding back and accelerating the R & D of quantum computing. For example, an important progress is the use of GPUs to train the noise model of quantum systems, thereby greatly improving the accuracy of quantum error correction. This is a real promotion of AI to quantum computing.

Yingke: Next, what are the company's technological direction paths and business goals?

Xiang Jingen: We always adhere to the dual - track strategy of technology - driven and commercialization in parallel.

In terms of the technological path, we will continue to pursue a higher number of quantum bits and quantum fidelity in superconducting quantum computers, and at the same time deeply integrate quantum error correction algorithms into the system architecture to lay the foundation for realizing general fault - tolerant quantum computing. Specifically, we have set a growth target of at least doubling the number of quantum bits every year.

The "Shaowei" series of superconducting quantum chips/Photo source: The enterprise

At the business level, we will continue to deepen the global delivery ability of superconducting whole machines, and at the same time promote the expansion of the customer structure from scientific research institutes to enterprise R & D departments. While maintaining growth in the education market, we will achieve substantial breakthroughs in industrial application scenarios such as finance and drug R & D.

Investors' Views

Longli Technology believes: SpinQ Technology has become a core participant in the track with its excellent technology and commercialization ability, and its development direction is highly consistent with the company's strategic layout. In the future, the two sides will deeply cooperate to jointly explore the industrial value boundary of quantum computing and achieve win - win cooperation.

Jingkai Capital mentioned: "As a pioneer in the industrialization of quantum computing, SpinQ Technology's complete system of 'hardware + software + service' and large - scale delivery ability lead the industry. Jingkai Capital hopes to join hands with SpinQ Technology to fully explore the resources of the industrial chain, help it deepen cooperation, and accelerate the popularization of technology commercialization."

Hengtai Huasheng said: "Quantum computing is a frontier technology track supported by national strategies, and SpinQ Technology is one of the leading enterprises in the field of superconducting quantum computing. SpinQ Technology adheres to self - developed full - stack layout in technology and has achieved multiple breakthroughs in the global education field and industrial application fields in commercialization, which also verifies the promising future value of quantum computing technology. Hengtai Huasheng will continue to support its core technology and application breakthroughs."

Yida Capital said: "Quantum technology is a hard - technology track in line with national strategies. SpinQ Technology masters core technologies, has mature industrialization capabilities, and a continuously evolving team. We are optimistic about its future large - scale development potential."

Qingdao Hanrui said: "We have long been concerned about hard - technology enterprises with core technologies and large - scale implementation capabilities, and highly recognize SpinQ Technology's technological accumulation, product matrix, and global layout in the quantum computing track. In the future, the two sides will accelerate ecological construction and in - depth industrial penetration through resource complementarity and in - depth cooperation."