On April 27th, TuringQ, a company specializing in photonic quantum computing, announced the successful completion of a new funding round, securing an investment worth hundreds of millions of yuan. This latest round of financing was co-led by the Yangtze River Delta Fund, which is part of the National Venture Capital Guidance Fund, and state-owned assets from the Pudong New Area. The latter includes the Leading District Fund under Pudong Venture Capital Group, working in partnership with Zhangjiang Science and Technology Investment and Haiwang Capital. Among the new investors are Fortune Capital, SAIC Capital (the industrial financial investment arm of SAIC Group), and its affiliate, Shangqi Capital. Additionally, existing shareholders such as CDH Invested and Bian'an Times also contributed to this follow-up investment.

This funding round represents another substantial financial boost for TuringQ, following a similar round of investment worth hundreds of millions of yuan that was finalized in January of this year. Cumulatively, these two rounds of funding have brought TuringQ's total capital raised to nearly 1 billion yuan. The fresh funds will be allocated towards the ongoing development and refinement of practical photonic quantum computers, the establishment of a core algorithm ecosystem, and the nationwide rollout of an intelligent computing center that integrates 'quantum-classical hybrid' technologies.