TuringQ Receives Its Third Round of Funding

Diagram of TuringQ's 3D Photonic Quantum Chip. Credit: TuringQ

Shanghai based TuringQ has received its third venture capital round in what they call a Pre-A+ financing. This is the third funding round the company has received since it was founded in February 2021. Although the funding amount of this round wasn't disclosed the company did indicate they have received a total of 500 million yuan ($79 million USD) over the three rounds. The lead investor in this latest round was Oriza Holdings with additional participation from Wuxi Binhu State-owned Capital Investment Company, Legend Capital, and Ambrum Capital. The company is working to be a full-stack quantum computing company with a photonic based quantum processor using chips built in a 3D architecture. Their system will include including quantum light sources, optical quantum information processing chips, detection systems, dedicated optical quantum computing software, optical quantum chips EDA software cloud access, and an optical quantum computing operating system (TuringQ OS). The company will be using the funds to recruit additional R&D personnel to continue the development of their technology. Additional information about this funding is available in an article post at PanDaily which you can find here.

March 2, 2022