(Yicai Global) March 9 -- QBoson, a Beijing-based quantum computing startup, said it has banked more than CNY100 million (USD14.4 million) from its latest fundraiser.

QBoson’s fourth financing round since its establishment was led by Beijing China Mobile Digital New Economy Industry Fund and Tsinghua Holdings Capital, the Beijing-based firm announced on its website yesterday. Other investors, including Infotech Ventures, also took part.

The proceeds will be used to research, develop, productize, and expand the market of QBoson’s practical optical quantum computing platform, the firm noted, adding that state-owned telecoms operator China Mobile will accelerate the platform’s application

Founded in November 2020, QBoson is developing a scalable and programmable optical quantum computing platform. Such computers are a popular branch of quantum computing, which uses the principle of quantum coherent superposition to achieve information transmission and parallel processing capabilities far beyond those of traditional computers.

Last year, QBoson completed development of the hardware for its first-generation computer and partnered with financial, biomedical, transportation, and communications firms to promote solutions for their industries based on quantum computing technology, the company said.

Editor: Futura Costaglione