The venture capital group's cooperative sub-fund invested in the company Huayi Quantum, which has completed nearly 100 million yuan in strategic round financing, accelerating the industrialization process of ion trap quantum computing.

Recently, the Nanjing Innovation Investment Group's cooperative sub-fund—Nanjing Turing Phase I Venture Capital Partnership (Limited Partnership) (hereinafter referred to as "Turing Phase I Fund") invested in the company Huayi Boao (Beijing) Quantum Technology Co., Ltd. (hereinafter referred to as "Huayi Quantum"), which announced the completion of nearly 100 million yuan in strategic round financing. This round of financing was exclusively invested by the Beijing Zhongyi Digital New Economy Industry Fund under China Mobile. This financing will accelerate Huayi Quantum's research and development of the second and third generation ion trap quantum computers. Among them, Huayi Quantum's second-generation product is expected to have a quantum bit scale of 100-200 qubit, planned for release in the first half of 2024; thereafter, Huayi Quantum will also launch a third-generation product with a scale of 300-600 qubit. Huayi Quantum stated that the strategic investment from China Mobile will greatly promote the commercialization and globalization of the company's technological achievements. In the future, both parties will leverage their advantages in technology research and development, market expansion, and user needs to jointly explore and tap into the broad application prospects of quantum technology in fields such as communication, network security, and high-performance computing, integrating cutting-edge technology better into daily life.

In April 2022, the Turing Phase I Fund participated in Huayi Quantum's angel round financing, with an investment amount of 5 million yuan. The Turing Phase I Fund was established in March 2019, with a fund size of 268 million yuan, and the Nanjing Innovation Investment Group managed the Nanjing municipal-level science and technology innovation fund, investing 60 million yuan in this sub-fund. The Turing Phase I Fund was initiated by Turing Venture Capital, which focuses on early-stage equity investment in artificial intelligence and information technology-related fields. Turing Venture Capital relies on the first-class technical capabilities, talent reserves, and government and industry resources of Tsinghua University's Institute of Interdisciplinary Information Research and the Nanjing Turing Artificial Intelligence Research Institute, and is committed to helping scientific research achievements land and transform through rich fund management experience and a professional investment management team, promoting the rapid application of artificial intelligence and information technology in traditional fields by investing in and incubating a new generation of information technology startups.

Huayi Quantum was established in January 2022, emerging from the Quantum Information Center of Tsinghua University. The founder is Professor Duan Luming, an academician of the Chinese Academy of Sciences and the director of the Quantum Information Center at Tsinghua University, and the CEO is Dr. Yao Lin, a former associate researcher at Tsinghua University. Huayi Quantum is committed to accelerating the commercialization of quantum computing through independent research and development of quantum computer hardware. Its focus on the ion trap quantum computing route features high controllability, long coherence time, scalability, and high precision, making it one of the most promising technological routes for achieving the industrialization of quantum computing. From the perspective of commercial application, its significant advantages in scalability make the cost of ion trap quantum computers significantly lower than other technological routes, providing a clear price advantage. Huayi Quantum has released the first-generation ion trap quantum computer commercialization prototype HYQ-A37 in the first quarter of 2023, with a scale of 37 quantum bits, and its coherence time, fidelity, and other related performance indicators have reached international first-class levels.

Source: Fund Department Wang Yanan

Reviewed by: Xue Yao

Published by: You Yi