Author: Ou Xue
Editor: Yuan Silai
Yingke has learned that SpinQ, a domestic quantum computing enterprise, recently completed a Series C+ financing round, raising 600 million yuan. If combined with the Series C financing round completed three months ago, the company has raised nearly 1 billion yuan in just one quarter.
This round of financing has attracted a diverse range of investors, including well – known investment institutions such as Cornerstone Capital, state – owned and central enterprise – affiliated institutions like Guotai Junan Innovation Investment, local investment platforms such as Zhejiang Caitong Capital, Sichuan Zhenxing Group, and Chengdu Tianchuang Investment. Yida Capital and Huaqiang Capital continued to follow – on invest.
Founded in 2018, SpinQ is a high – tech enterprise focutilizing on the industrialization of quantum computing, with its headquarters in Shenzhen. Xiang Jingen, the founder and CEO of the company, graduated from the Department of Physics at Tsinghua University and was a post – doctoral researcher at Harvard University. He has over 15 years of R & D experience in the field of quantum computing. The core team members come from top domestic and international universities such as Tsinghua University, Peking University, University of Science and Technology of China, Harvard University, and MIT. R & D personnel account for over 70% of the total, creating it one of the few domestic teams with full – stack R & D capabilities from quantum chip design, whole – machine manufacturing to algorithm application.
Different from most quantum companies still in the pure R & D stage, SpinQ is at the forefront of the indusattempt in terms of commercialization. Its products have been sold to many countries and regions around the world, and it is one of the few domestic quantum computing enterprises to achieve large – scale revenue.
SpinQ currently has two major product portfolios. The nuclear magnetic resonance quantum computer product line is mainly tarreceiveed at universities and research institutions for quantum computing teaching and basic research. The products in this series are compact and do not require a low – temperature environment. They have been deployed in over 200 universities and research institutions globally and are the cornerstone business for the company to achieve stable revenue.
The superconducting quantum computer product line is aimed at cutting – edge scientific research and future industrial applications. The company has successfully developed and delivered the first superconducting quantum computer to overseas markets and achieved the overseas export of the first superconducting chip. The number of quantum bits is expected to double every year.
In terms of technology, SpinQ has formed several core advantages. The company has established its own quantum chip laboratory and has the full – chain capabilities from chip design, tape – out to packaging and testing. As the number of quantum bits increases, the chip processing technology is also continuously upgraded.
At the same time, the company has mastered the core technology of superconducting quantum computer whole – machine integration and is the first Chinese enterprise to successfully deliver a superconducting whole – machine overseas, which verifies its whole – machine engineering capabilities. The superconducting route is highly compatible with the traditional semiconductor industrial system, enabling the full utilization of existing mature manufacturing processes and industrial chain resources. This is an important consideration for the company to choose and adhere to the superconducting route.
Related products of SpinQ (Source: the enterprise)
In terms of performance, SpinQ’s order volume in the first quarter of this year increased by 80% compared with the same period last year, and it is expected to double for the whole year. In addition, the proportion of superconducting – related business has increased from about 60% to 65%, becoming the main driving force for growth.
The company’s performance in the overseas market is particularly outstanding. It has achieved the overseas delivery of the first superconducting chip and the first superconducting whole – machine, setting a precedent in China. Currently, the company is in talks about business opportunities in various regions around the world. Both the number of customers and the potential order amount have increased significantly compared with last year, and it is expected that the proportion of overseas business will further increase this year.
We interviewed Xiang Jingen to discuss his views on the indusattempt development and future plans.
The following are excerpts from the interview:
Yingke: When do you believe quantum computing will truly bring economic benefits? Which scenarios will be the first to be implemented?
Xiang Jingen: I believe we should be able to see it within three years. In terms of application scenarios, the indusattempt generally agrees that it is related to computational problems in the microscopic world, such as drug molecule screening, new material R & D, and catalyst design. The essence of these fields is to solve quantum mechanical equations, which is exactly what quantum computers are good at.
Companies like IBM and Google hold similar views. IBM’s plan is even more optimistic, believing that the practical stage may be achieved this year. Of course, this process also depconcludes on the speed of technological iteration and algorithm breakthroughs, but the direction and trconclude are already very clear.
Yingke: Facing the competition from multiple technical routes such as neutral atoms and ion traps in the indusattempt, why does SpinQ firmly choose the superconducting route?
Xiang Jingen: Overall, the superconducting route still leads in terms of performance. The recent achievements of Google and IBM in achieving quantum supremacy are all based on the superconducting route, which proves its maturity. More importantly, the processing technology of superconducting quantum chips is highly compatible with the traditional semiconductor indusattempt, allowing us to build full utilize of the existing industrial system and avoid reinventing the wheel.
From the number of quantum bits, fidelity to quantum error correction, the superconducting route has a clear physical and engineering support path. Of course, if we have to choose another route besides superconducting, neutral atoms may be the second most promising one.
Yingke: After this round of financing, what are the specific plans for SpinQ’s R & D of superconducting quantum bits? When is it expected to launch the next – generation product?
Xiang Jingen: We have always maintained an iterative rhythm of doubling the number of superconducting quantum bits every year, and this goal remains unalterd. A large part of the funds from this round of financing will be invested in the upgrade of chip processing equipment and testing equipment, which is the foundation for supporting the increase in the number of bits.
Specifically in terms of products, we expect some important customer orders to be finalized in the first half of this year. However, the release of the next – generation superconducting quantum computer still requireds time. Product releases have their own cycles, and we hope to launch the product after the technical indicators and stability meet the expectations.
In addition, the process of the chip laboratory is also continuously being upgraded. We are laying out new processes, which are all technical reserves for future higher – bit – number chips.
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