Chinese startup Taiyi Quantum has raised $44 million for next-generation quantum computing.
Shanghai-based quantum computer developer Taiyi Quantum has successfully closed a pre-seed funding round of 300 million yuan, equivalent to approximately $44 million. The deal was led by venture capital funds Gaorong Venture Capital and IDG Capital.
The project is backed by Liu Hongbin, a former lead architect of Azure Quantum at Microsoft. His vision is to create a quantum system based on neutral ytterbium atoms. In this architecture, individual atoms serve as qubits, held in optical traps using laser beams.
The choice of ytterbium is no coincidence: this element demonstrates record stability of quantum states and low error rates, which are critical for scaling computations. Unlike superconducting qubits that require extremely low temperatures, atomic platforms can operate at room temperature, reducing operational costs.
The quantum computing market is experiencing a boom: according to analysts' estimates, its volume could exceed $65 billion by 2030. China is actively investing in this field, aiming to close the gap with the United States in the race for quantum supremacy. Taiyi Quantum aims to create a commercially viable system with a sufficient number of qubits to solve practical problems in cryptography, materials science, and supply chain optimization.
Expert opinion: The development of quantum computers based on neutral atoms poses a direct threat to modern cryptographic algorithms, including ECDSA used in Bitcoin. Although practical implementation of such a scenario is still far off, investors are already laying the foundation for the post-quantum era. Taiyi Quantum, with its team from Microsoft, is one of the key players to watch closely.