Founded by a returnee postdoctoral fellow from Tsinghua University, SpinQ Technology, which achieved the first overseas delivery of a whole superconducting quantum computer in China, secures hundreds of millions of yuan in Series B financing | Exclusive Report by Yingke

Author: Ou Xue

Editor: Peng Xiaoqiu

Yingke has learned that Shenzhen SpinQ Technology Co., Ltd. (hereinafter referred to as "SpinQ Technology") recently completed a Series B financing of hundreds of millions of yuan. The investors include government funds such as Jianxin Equity Investment and Liangxi Science and Technology City Development Fund, as well as multiple institutions such as Starry Investment, Huaqiang Capital, and Jiusong Fund. The financing funds will be mainly used for technological upgrading and iteration, deepening of scenario applications, and accelerating the global layout.

SpinQ Technology was founded in 2018. The core team members come from Harvard University, the Massachusetts Institute of Technology, Tsinghua University, Peking University, the University of Science and Technology of China, the Hong Kong University of Science and Technology, etc. Its founder and CEO, Xiang Jingen, is a bachelor and doctor of physics from Tsinghua University, and a postdoctoral researcher and associate researcher at Harvard University.

Centering on the dual - wheel drive of technological R & D and commercial implementation, SpinQ Technology relies on educational nuclear magnetic quantum computers, industrial - grade superconducting quantum computers, quantum computing cloud platforms, and application software for industrial layout, empowering fields such as scientific research and teaching, drug R & D, financial technology, and artificial intelligence.

In recent years, with the rapid development of fields such as cloud computing, artificial intelligence, big data, and AIoT, as well as the impetus of the Fourth Industrial Revolution, Web3, and the metaverse boom, the demand for computing power is endless. However, Moore's Law of traditional computers is approaching its limit, and quantum computing has become the basic technology to break through the limit and drive a new round of scientific and technological revolution and industrial transformation.

Xiang Jingen told Yingke that the current quantum computing market has not been fully opened up, and it is extremely challenging for the company to balance the progress of market expansion and technological R & D. Currently, as one of the few domestic enterprises with the full - process capabilities of independent design, manufacturing, and testing of superconducting quantum chips, SpinQ Technology has entered the universities, scientific research institutions, and industrial fields of more than 40 countries and regions around the world, establishing a wide customer base.

In the product application market, SpinQ Technology's educational nuclear magnetic quantum computers have a cost - performance advantage. In 2020, SpinQ Technology released the world's first desktop nuclear magnetic quantum computer, "SpinQ Gemini", which features miniaturization, maintenance - free operation, and high stability.

Subsequently, SpinQ Technology successively launched a series of products such as "SpinQ Gemini Mini", "SpinQ Gemini Lab", and "SpinQ Triangulum II", forming a complete layout from teaching equipment to basic scientific research instruments, covering the full - stage needs from primary and secondary school science popularization experiments to university scientific research and teaching. It has provided quantum education products and services to more than 200 universities and middle schools around the world. In 2025, the company expects to create product services such as AI quantum teaching assistants on the basis of continuous iteration of hardware products.

SpinQ Technology's educational nuclear magnetic quantum computer series products (Source/Enterprise)

In the superconducting technology route, SpinQ Technology released the fully self - developed and standardized mass - producible superconducting chip "Shaowei" in 2023, which features a high Qi value, long qubit lifetime, and high stability. The measurement and control system released in the same period provides a more convenient and reliable qubit control experience, higher measurement and control accuracy, and faster qubit calibration and product delivery. In the year of product launch, it achieved the export of the first Chinese superconducting chip to the Middle East and completed the overseas delivery of the first Chinese superconducting quantum computer in the following year.

This year, SpinQ Technology will achieve iteration and breakthroughs in core technology links such as material technology, chip design, control accuracy, reading efficiency, and system integration, and simultaneously improve the engineering capabilities of the entire industrial chain. At the same time, it will promote the design and processing of 100 - qubit chips and the R & D of the second - generation quantum measurement and control system products, moving towards medium - scale quantum processors (NISQ) and practical quantum computers.

SpinQ Technology's industrial - grade superconducting quantum computer series products (Source/Enterprise)

Xiang Jingen revealed to Yingke that the number of orders and delivered customers of SpinQ Technology has increased significantly in recent years. This year's revenue is expected to double compared with last year, and is expected to exceed 50 million yuan.

"From the overall development of quantum computing, the main future direction is towards general - purpose quantum computing." Xiang Jingen said that quantum error correction and fault - tolerant quantum computing technologies are becoming increasingly important. He revealed that SpinQ Technology previously mainly focused on relevant theoretical research, and will gradually carry out experimental verification work on quantum error correction and fault - tolerant quantum computing in the future.

Especially in the era of artificial intelligence, the amount of data is growing rapidly, and the traditional computing model is gradually approaching the physical performance limit. Insufficient computing power has become a prominent problem in the industry's development. As a new technological direction, quantum computing can significantly improve computing capabilities. It has achieved rapid development globally in recent years and has become an important exploration direction to solve the computing power bottleneck.

"There is a complementary relationship between artificial intelligence and quantum computing." Xiang Jingen told Yingke. On the one hand, artificial intelligence accelerates the implementation of quantum computing through education and R & D; on the other hand, quantum computing will become the computing power engine for artificial intelligence. Xiang Jingen revealed that currently SpinQ Technology is conducting some algorithm - related research and considering using quantum computing to solve the computing power of a certain module in artificial intelligence.

In the future, SpinQ Technology will focus on three aspects of work: technologically, continuously promote the upgrading of superconducting quantum computers, desktop quantum computing hardware, and software such as quantum computing cloud platforms to improve computing power; in application scenarios, penetrate into industries such as finance, biomedicine, and artificial intelligence to promote the combination of quantum computing technology and actual needs; in the global layout, systematically expand the international market to promote technological exchanges and cooperation.

Views of Investors:

The national strategic emerging industry fund jointly initiated by the National Development and Reform Commission and China Construction Bank, Jianxin Equity, said: "SpinQ Technology has achieved full - process independent R & D in the field of superconducting quantum chips, and its products have entered the international market, demonstrating the technological self - controllability of Chinese technology enterprises in global competition."

The Liangxi Science and Technology City Development Fund said: SpinQ Technology's model of "technological R & D + commercial implementation" provides a demonstration for regional technology enterprises and injects innovative impetus into the development of regional science and technology industries.

Wang Jianfei, the managing partner of Starry Investment, believes: SpinQ Technology has achieved multiple breakthrough results in the fields of superconducting quantum chips, quantum computers, and quantum algorithms, demonstrating solid engineering capabilities and industrialization potential. The company's core team comes from top universities such as Tsinghua University and the University of Science and Technology of China, combining cutting - edge scientific research accumulation and commercial implementation experience. Its full - industrial - chain independent R & D capabilities will build core advantages for China's quantum technology competition. This investment in SpinQ Technology is an important layout of Starry Investment in the field of new - generation information technology.

Pan Xueshi, the senior investment director of Huaqiang Capital, believes: SpinQ Technology has built a full - stack capability from hardware, software to solutions in the field of quantum computing in China, which is a typical case of hard - technology industrialization. Its full - industrial - chain independent R & D capabilities will build core advantages for China's quantum technology competition.

The newly - joined investor, Jiusong Fund, said: "SpinQ Technology's innovative technological strength, market competitiveness, and growth potential in the field of quantum computing are worthy of expectation. Its vision of promoting the industrialization of quantum computing is highly consistent with Jiusong Fund's concept of promoting the industrial application of high - tech enterprises through investment. In the future, Jiusong Fund will rely on its own resources to help SpinQ Technology accelerate the industrial implementation and value release of quantum computing in multiple industries."