The Chinese company SpinQ Technology has successfully closed a round of D-series financing, raising CN 1 billion (about $147 million). Investments are aimed at building fail-safe quantum computing systems. Major funds such as CICC Capital and Shanghai Semiconductor Industry Investment participated in the round, as well as active shareholders. Notably, this is already the second major tranche in the last six months: in April, the company raised CN 600 million as part of the C+ series round.

The leveraged capital will allow SpinQ to focus on the full cycle of developing fault-tolerant quantum computers, with a particular focus on correcting quantum errors and deep integration of hardware and software. In the plans for 2026 - successful verification of error correction on surface code with a coded distance d=3. In parallel, the company is betting on its own production: at the facilities in Shenzhen, assembly, packaging and testing of a new generation of superconducting chips of 25 and 103 kubits has already been completed.

Founded in 2018, SpinQ has gone from being a developer of compact quantum desktop computers to a developer of full-featured cloud platforms and application software whose solutions are now used by hundreds of institutions around the world.