SDT, South Korea’s sole quantum computing company, has secured a 10 billion won ($7.47M USD) pre-IPO investment from Shinhan Venture Investment, aiming to raise a total of 20 billion won. The remaining funds are expected to come from global companies and existing shareholders.
SDT specializes in manufacturing equipment that controls quantum phenomena like entanglement and superposition, essential for quantum computing. With this new investment, the company plans to commercialize quantum computers in Korea and build a quantum computing data center for quantum cloud services in collaboration with the government and KISTI.
Additionally, SDT is working with Seoul National University and the Korea Institute of Science and Technology to develop quantum processing units based on silicon spin and diamond nitrogen vacancy technologies. The company aims to complete a 3D array for a neutral atom quantum computer by mid-2025 and a 64-qubit superconducting quantum computer by mid-2026.
Shinhan Venture Investment’s managing director, Cho Jae-ho, emphasized SDT’s unique position in Korea’s quantum computing industry and its potential for global expansion. SDT’s CEO, Yoon Ji-won, highlighted the significance of this investment in demonstrating the practical value of quantum engineering across industries.
For additional information, you can access a press release provided that you can see here.
September 2, 2024
