Quantum control specialist Zhongweida raises second round in six months
What's the deal? Chengdu Zhongweida Xinko Technology has raised a Series B round worth hundreds of millions of yuan for its quantum computing measurement and control technology. Five institutions co-led: Capital Easy, Shenergy ChengyiDealroom has a profile for this one. Try Dealroom →, Guotai Haitong Zhengyu Investment, CICC Capital, and existing shareholder Jobo Capital.
Who else is in? New backers include CITIC Construction Investment Investment, Oriental Fortune CapitalDealroom has a profile for this one. Try Dealroom →, Yicun CapitalDealroom has a profile for this one. Try Dealroom →, Furo Capital, and others. Existing shareholders — among them Southern AssetDealroom has a profile for this one. Try Dealroom →, Sichuan Venture CapitalDealroom has a profile for this one. Try Dealroom →, and Bojia CapitalDealroom has a profile for this one. Try Dealroom → — increased their holdings.
Why now? The company has closed two rounds within six months. It is a quick re-raise, timed as China folds quantum technology into the future industries priorities of its 15th Five-Year Plan.
What's the endgame? Founded in 2017, Zhongweida builds the measurement and control systems that act as the "neural center" of quantum computers, handling qubit signal generation, manipulation, and state reading. Its products span room-temperature systems, cryogenic chips, molecular clocks, software, and test platforms.
Its ZW-QCS580 fast-feedback system supports quantum error correction and thousand-qubit machines, with what the company says is a more than 10-fold gain in measurement and control efficiency.
Where the money goes: R&D and commercial deployment of multi-system control technology for combined quantum, supercomputing, and intelligent computing scenarios, plus iteration of its quantum chip test platforms.
The signal: Measurement and control is a supporting layer required across every quantum computing approach — the plumbing beneath the hardware. Investor appetite for a fast re-raise here points to China backing the picks-and-shovels suppliers as it pushes quantum from the lab toward industrial use.
Read more: eu.36kr.com
Image credit: IBM Research
