Quantum Compu2026-10-19 01:01:12FlipFlop Tuoyuan, a neutral-atom quantum startup, reportedly raised two rounds within weeks of launchQuantum computing startup FlipFlop Tuoyuan has emerged as a new entrant in China’s neutral-atom quantum computing field, according to a report by QbitAI republished by MarsBit. Corporate records cited in the report show the company was established on July 2 this year. Within a little more than a month of incorporation, it had already completed two financing rounds, with total funding reaching several hundred million yuan. People close to the company told the outlet the rounds were a seed round and an angel round, and that investors included Source Code Capital, Oasis and CICC. The report said the company is led by Qiao Mu, born in 1996, who studied environmental science at Shandong University before earning a PhD at Tsinghua University and later conducting postdoctoral research under the French National Centre for Scientific Research. It also outlined his publication record, including work in Nature, Nature Physics and Science Advances, and said he had previously explored academic positions in China before choosing to start a company instead. FlipFlop Tuoyuan is said to be building around neutral-atom quantum computing, with one investor saying the company is designing its full-stack architecture around fault-tolerant computing needs and treating a 100-logical-qubit system as a key R&D target. The report also said the startup wants to adopt an AI-native research model, bringing AI into experiment design, data processing and equipment control.1050
Pasqal2026-08-29 02:43:19Pasqal jumps 95% in Nasdaq debut as investors price a $2 billion bet on neutral-atom quantum computingPasqal, the French neutral-atom quantum computing company, began trading on Nasdaq on Aug. 28 after completing its merger with Bleichroeder Acquisition Corp. II at an implied pre-money valuation of about $2 billion. The deal delivered roughly $360 million in cash, and the stock surged from its $9.79 reference price to close at $19.11, up about 95% on the first trading day after rising 52% by midday in New York. The debut lands in a period when major quantum computing companies across superconducting, trapped-ion, and neutral-atom approaches are reaching public markets in quick succession, following IonQ’s 2021 SPAC listing, Quantinuum’s June IPO, and IQM’s July listing. Pasqal’s valuation stands out because the company reported 2025 revenue of 16.5 million euros, up from 3.5 million euros in 2024, with total revenue of about 23.7 million euros including government subsidies. At that level, the company trades at roughly 100 times 2025 revenue. The market reaction has sharpened a familiar question in quantum investing: whether buyers are paying for a business that has already solved commercialization, or for the possibility that it eventually will. The company’s cloud-accessible quantum processing units, customer roster, and neutral-atom roadmap support that case, but its filing also lays out execution and commercialization risks, along with a French approval requirement for significant ownership by non-French or non-EU investors.2990
