SpinQ raised 1 billion yuan: China bets on fault-tolerant quantum computing
Chinese company SpinQ Technology, a leader in the field of quantum computing, has closed a Series D funding round of 1 billion yuan (approximately $147 million). These funds will be directed toward creating fault-tolerant quantum systems — a key area for overcoming the current limitations of quantum technology.
The round saw participation from major players such as CICC Capital, Shenzhen TopoScend Capital, Shanghai Semiconductor Industry Investment, AVIC Honghua, and Shanghai SEARI Private Equity Investment Management. They were joined by the company's existing shareholders, indicating strong confidence in SpinQ's strategy.
In total, over the past six months, SpinQ has raised about 2 billion yuan. Notably, in April 2026, the company had already closed a Series C+ round of 600 million yuan, bringing the total Series C amount to nearly 1 billion yuan. This momentum suggests that the Chinese capital market is actively investing in infrastructure projects capable of ensuring technological sovereignty.
Plan until 2026 and technical milestones
The funds raised will be used to develop a full stack for fault-tolerant quantum computers, upgrade production lines, and expand the international ecosystem. Special emphasis is placed on quantum error correction — one of the most challenging tasks in this field. SpinQ plans to complete verification of error correction on a surface code with a code distance of d=3 as early as 2026.
At the hardware level, the company is advancing its own production of superconducting chips in Shenzhen. The manufacturing, packaging, and testing of next-generation chips with 25 and 103 qubits have already been completed. This is an important step toward creating commercially viable solutions.
Founded in 2018, SpinQ develops both superconducting and desktop quantum computers, as well as a cloud platform and application software. To date, its products and services are used by over 200 institutions in 40 countries worldwide.
Analytical commentary: SpinQ's success in raising such significant funds is not just a corporate story but an indicator of the global race for quantum supremacy. China, alongside the United States, is betting on quantum technologies as a strategic asset. However, despite impressive figures, mass adoption of fault-tolerant quantum computers is still far off — the key challenge remains scaling the number of qubits while maintaining a low error rate. SpinQ is certainly moving in the right direction, but the market expects concrete results from it in the next 2-3 years.