Insider Brief
- CQMTEK raised more than 100 million yuan in pre-Series B financing to expand manufacturing and commercial applications of its quantum precision measurement products.
- The investment came from Huzhou Jinkun and Huzhou South Taihu Juchuang, two funds managed by state-owned investment manager Huzhou Jinfu.
- Proceeds will support research, product testing, batch manufacturing and expansion into markets including telecommunications, AI computing, power grids and finance.
CQMTEK — Guoce Quantum Technology (Zhejiang) Co., Ltd — has raised more than 100 million yuan — or about US$15 million — to expand manufacturing and commercial applications of its quantum precision measurement products, the company said in a statement that was computer translated .
The pre-Series B strategic financing, announced July 16, came from Huzhou Jinkun and Huzhou South Taihu Juchuang. Both funds are managed by Huzhou Jinfu, a state-owned fund manager associated with Huzhou’s South Taihu New Area.
Proceeds will support research, product testing, batch manufacturing and market expansion. The company also plans to improve existing products and develop integrated systems for industry customers.
CQMTEK’s products include chip-scale atomic clocks, frequency-stabilized lasers, atomic magnetometers and precision timing systems. Its target markets include telecommunications, AI computing infrastructure, power grids, renewable energy, finance and advanced equipment.
The company said the investment would deepen cooperation with regional backers on manufacturing facilities, commercial applications and supply chain development.
Established through a Peking University initiative and headquartered in Huzhou, CQMTEK says it has achieved batch production of chip-scale atomic clocks using domestic technology and components.
It has established research and manufacturing bases in Huzhou and Wenzhou, according to the announcement. The company did not disclose a valuation or the ownership stakes acquired by the investors.