Chinese company SpinQ Technology has announced the completion of its Series D funding round, raising 1 billion yuan (approximately $147 million) for the development of fault-tolerant quantum computers. This was reported by The Quantum Insider, citing a company press release.
Investors in the round include CICC Capital, Shenzhen TopoScend Capital, Shanghai Semiconductor Industry Investment, AVIC Honghua, and Shanghai SEARI Private Equity Investment Management. Existing shareholders also participated in the funding.
The company claims to have raised about 2 billion yuan over the past six months. In April, SpinQ announced a Series C+ round of 600 million yuan, bringing the total for Series C close to 1 billion yuan.
The newly acquired funds will be used to develop a full stack for fault-tolerant quantum computers, update manufacturing processes, and expand the international ecosystem. The company stated that the investments will strengthen areas such as quantum error correction, hardware and software integration, and commercialization.
In 2026, SpinQ plans to complete error correction verification using surface code with a code distance of d=3. On the hardware front, the company is developing its own line for the development and trial production of superconducting quantum chips in Shenzhen. Representatives announced the completion of manufacturing, packaging, and testing of new-generation chips with 25 and 103 qubits.
Founded in 2018, SpinQ develops superconducting and desktop quantum computers, a cloud platform, and application software. According to the company, its products and services are used by over 200 institutions in 40 countries and regions.
Earlier in June, the U.S. Department of Defense’s Defense Innovation Unit launched the Farseer program to develop quantum sensors and portable atomic clocks for intelligence, surveillance, and reconnaissance. The initiative could receive up to $200 million over the next year.
