Origin Quantum Secures a 1 Billion Yuan ($148.2M USD) Series B Funding Round

Original Quantum is a startup headquartered in Hefei, China and founded in 2017 by a team from the quantum information laboratory at the Chinese Academy of Sciences. The company is believe to have over 300 employees with about 75% of them R&D personnel. They have been developing quantum processors based upon both superconducting and spin qubit technologies and have also developed a quantum computing software framework called Qpanda2 to build, run and optimize quantum algorithms along with a quantum operating system called Origin Pilot. They received a Series A funding of over 100 Million Yuan ($15.4M USD) in January 2021 and have now closed a Series B round of almost 1 billion yuan. The round was led by the government backed Shenzhen Capital Group's Hotland Investment Asset Management with additional participation from CITIC Securities and China International Capital Corporation (CICC), Bank of China Group Investment Limited (BOCGI) and several other Chinese investment institutions. Additional details can be seen in an article posted in an article by Deal street Asia here.

July 26, 2022