China’s First Atomic Quantum Computing System Developer CASCA Raises Nearly USD 14 Million in Strategic Funding - Pandaily

NewsChina’s First Atomic Quantum Computing System Developer CASCA Raises Nearly USD 14 Million in Strategic FundingPublished:January 19, 2026Reading Time:3 min readWant to read in a language you're more familiar with?CASCA, the developer of China’s first atomic quantum computer, has raised nearly USD 14 million in strategic funding to accelerate neutral-atom quantum computing hardware development and commercialization.The R&D team behind China’s first atomic quantum computing system has completed a new round of strategic financing. CAS Cold Atom Technology (Wuhan) Co., Ltd. (CASCA) has secured a new strategic investment of nearly RMB 100 million (approximately USD 14 million), with the China Mobile Chain Leader Fund acting as the sole investor. The proceeds will be mainly used to accelerate quantum computing hardware R&D, advance iterations of new products and technologies, and expand exploration of application scenarios. CASCA is China’s first company with both atomic quantum computing and quantum precision measurement R&D and commercialization capabilities, and serves as a chain-leading enterprise within Hubei Province’s quantum technology industrial chain. Its core team originates from the The Innovation Academy for Precision Measurement Science and Technology (APM) of the Chinese Academy of Sciences (CAS), and is among the earliest groups in China to engage in neutral-atom quantum technology research. With more than two decades of experience in the field, the team has built systematic technical capabilities spanning quantum computing, quantum precision measurement, and practical applications. The industrialization of quantum technology continues to accelerate. According to data from the Photon Box Institute, the global quantum technology market reached USD 8 billion in 2024, with China accounting for nearly one quarter of the total. By 2035, the global market is expected to expand rapidly to over USD 900 billion, while China’s quantum industry could reach USD 260 billion, representing close to 30% of global market share. As multiple quantum computing approaches advance in parallel, neutral-atom quantum computing has emerged as one of the fastest-moving systems globally in both R&D and industrialization, thanks to its combined advantages in scalability, engineering feasibility, and system integration. In 2024, CASCA unveiled “Hanyuan-1,” China’s first atomic quantum computing system, which was recognized as an Outstanding Case of Future Industry Innovation Development by China’s Ministry of Industry and Information Technology, marking a significant domestic breakthrough in this frontier field. Founder and Chairman Tang Biao said the core strength of neutral-atom quantum computing lies in its scalability. “The number of qubits can be scaled up significantly, while supporting modular design, assembly, and integration,” he noted. In addition, the technology does not rely on contact-based cooling. “Atomic quantum computing is based on cold-atom technology, where atomic qubits are cooled directly by lasers. This delivers high cooling efficiency and low power consumption, and allows operation at room temperature,” Tang said, giving the system advantages in deployment requirements and flexibility. Although quantum computing as a whole remains at an early stage of commercialization, CASCA has already achieved commercial delivery of Hanyuan-1, supported by long-term scientific research and engineering practice. The company expects to begin overseas delivery of complete systems next year, making it one of the few teams globally to complete a full closed loop from R&D to real-world deployment for atomic quantum computing systems. CASCA also plans to launch a next-generation system, “Hanyuan-2,” with further improvements in overall architecture, stability, and comprehensive performance. Alongside hardware development, CASCA is also building out its software and platform capabilities. In collaboration with teams including the Wuhan Institute of Quantum Technology, the company has developed a cloud platform for atomic quantum computing, enabling users to remotely access Hanyuan-1, submit computing tasks, run them on real hardware, and receive results directly through the platform. Commenting on the latest financing round, Tang said the funds will primarily be used to speed up quantum computing hardware development, accelerate iterations of new products and technologies, and increase investment in talent recruitment and application exploration. “By pushing forward at a faster technological pace, we hope to move atomic quantum computing from experimental validation toward real commercialization,” he said.