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TMTPOST -- CAS COLD ATOM Technology (Wuhan) Co. has raised tens of millions of yuan in a strategic funding round to accelerate the development of China’s first full-stack atomic quantum computer system, the company said Tuesday.
Backers of the round include Xin Guang Quantum Fund, Optics Valley Angel Fund, Hubei Science Investment Angel Fund, and publicly listed Caixun Co.
The capital injection will be used to scale CAS COLD ATOM’s capabilities in atomic quantum computing and quantum precision measurement—two key areas within the nation's broader push to commercialize next-generation computing technologies.
CAS COLD ATOM is the first Chinese firm to combine both R&D and commercialization capacity in atomic quantum computing. It leads Hubei’s quantum technology supply chain and is a founding member of China’s National Quantum Technology Industry-University-Research Innovation Alliance.
Spun out from the Chinese Academy of Sciences’ Innovation Academy for Precision Measurement Science and Technology, the company’s core team was among the earliest in China to focus on neutral atom quantum computing. It has since become internationally recognized in quantum measurement, control, and interferometry.
Neutral atoms—identical, low-energy atoms with equal numbers of protons and electrons—are seen as a promising architecture for quantum computing due to their long coherence times, scalability, and flexibility. Compared to more established technologies like superconducting qubits or ion traps, neutral atom systems offer a unique blend of stability and simplicity without requiring cryogenic environments.
In June 2024, CAS COLD ATOM debuted Hanyuan No. 1, China’s first atomic quantum computer. Unlike traditional systems, Hanyuan can operate in standard indoor settings without the need for a dilution refrigerator, making it highly localized, integrated, and adaptable for broader deployment.
The company has also launched a quantum cloud platform and additional Hanyuan prototypes. Its clients include top Chinese research universities and institutions, and it is currently building what it calls the country’s first Atomic Quantum Computing Center.
CAS COLD ATOM plans to simultaneously develop two types of quantum computing architectures—fully programmable and globally controlled—in a bid to serve diverse application scenarios across sectors ranging from scientific research to national security.
As China races to lead the global quantum race, the company’s rapid progress reflects a shift in momentum toward indigenous hardware development and deep-tech industrialization.