Quantum Computing: 3 Companies to Watch in Asia

January 31, 2024

In the fast-paced world of quantum computing, where advanced scientific research intersects with groundbreaking technology, a few standout companies are leading the charge towards a promising future. This article highlights three quantum computing companies to watch based in Asia. We explore their significant contributions, showcasing how these trailblazing firms are reshaping the landscape of quantum computing and its extensive impact across multiple sectors.

HYQ Bit

HYQ Bit, founded in 2022, specialises in creating quantum computers and a quantum cloud platform tailored for enhanced algorithm research and application acceleration. Their approach involves constructing modular, standardised, and scalable quantum computers utilising ion-trap technology. Alongside this, they offer a quantum cloud platform. Their offerings boast high-fidelity, well-connected quantum computers with an extensive qubit count, cost-effectiveness, and the ease of parallel operations.

On January 22nd 2024, the company secured close to CNY 100 million in venture capital from China Mobile Capital. This investment is poised to boost Huayi Quantum’s efforts in the research, development, and production of their second and third-generation ion trap quantum computers. Prior to this, the company had received grant funding from DEMO CHINA on November 7th 2023.

TuringQ

Based in Shanghai, China, TuringQ specialises in the development of optical quantum chips and optical quantum computers, catering to the quantum computing industry. Their focus lies in researching, developing, and industrialising optical quantum chips, optical quantum computers, photon computers, artificial intelligence photon processors, and quantum cloud services. These innovations find applications in power engines and the intelligent computing sector.

The company successfully secured a substantial Series A venture funding of several hundred million CNY, led by the China Internet Investment Fund on January 18th 2023. Other participants included Orient Securities Venture, Lenovo Capital and Incubator Group, and Tsinghua Holdings Capital. This funding will primarily enhance chip mass production capabilities, advancing technology research and development for full-stack products, and promoting industrialisation for various industry applications. Prior to this, the company had raised over CNY 100 million in Series Pre-A+ venture funding in a deal spearheaded by Oriza Holdings on February 24, 2022, with Scheme Capital, Wuxi Binhu SDIC, Legend Capital, and Amber Capital(Shanghai) also contributing.

Qutronix

Qutonix, a technology innovation company operates with the aim of integrating quantum physics and photonic information with cloud computing, big data, and artificial intelligence. It offers a platform dedicated to the advancement of analog quantum computers. This facilitates client involvement in research and development in cutting-edge technologies, including power factor optimisation algorithms and quantum search algorithms. The company’s efforts are geared towards enhancing the synergy between algorithms and practical engineering applications.

On November 1st 2021, the company successfully secured CNY 100 million in seed funding. This financial round was spearheaded by Legend Capital, with China Fortune-Tech Capital and Amber Capital(Shanghai) also making significant contributions. This funding, in addition to the company’s goals, places Qutronix as one of the top quantum computing companies to watch in Asia.

Published on 31-01-2024