Tencent backs Singapores Horizon Quantum Computing in $18M round

News Summary

  • Launching from a neutral home base is now seen as a prerequisite for many tech firms, including quantum computer builders, who rely on components sourced from around the world.Tencent’s investment in Horizon Quantum Computing is purely financial, so it won’t entail any transfer of sensitive data, the founder noted.
  • Ling Ge, Tencent’s chief representative in Europe and the person who oversaw the deal with Horizon Quantum Computing, has known Fitzsimons since her years in Oxford, where she studied quantum computing.“At Tencent, we take a long-term perspective on quantum.
  • This is primarily achieved through our deep technical expertise, which allows us to really understand what is being developed and its maturity,” she said.The story was updated on April 3, 2023 to clarify the founder’s view on export controls.UK quantum computing startup Quantum Motion raises $50.5M
  • In our own quantum lab, we are focused on fundamental research, first-principles simulations and quantum algorithms, and how these might serve enterprise customers,” said Ge at an industry event last year.“In terms of investments, we take a science-driven approach.
  • The startup is also scheduled to launch the early access program of its developer tools later this year.While Singapore is more widely known as a financial hub, it has also been one of the most proactive governments in supporting quantum technologies.
  • The startup took Tencent’s investment because the giant is an “expert” in the area, he said.Indeed, the social networking and gaming giant showed a keen interest in the field when it opened its quantum research lab in 2018.
Quantum computers have the potential to carry out highly complicated calculations in minutes that would have taken classical computers thousands of years to work out. But much of the industry is stil [+3613 chars]