Chinese quantum computing startup Origin Quantum closes $148m in Series B round

Chinese quantum computing startup Origin Quantum closes $148m in Series B round

Chinese quantum computing startup Origin Quantum has raised almost 1 billion yuan ($148.2 million) in a Series B round of financing with the support of investors including the country’s state-backed funds, the company said in a statement.

The government-backed Shenzhen Capital Group’s Hotland Innovation Asset Management led the new investment. Over a dozen Chinese investment institutions participated in the deal, including financial services companies CITIC Securities and China International Capital Corporation (CICC), as well as Bank of China Group Investment Limited (BOCGI), the direct investment subsidiary of Bank of China (BOC).

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