China's first cold-atom quantum company gets tens of millions of yuan financing

Recently, cold-atom quantum precision measurement and quantum computing technology developer CAS cold atom (CASCA) Technology (Wuhan) Co., Ltd. (hereinafter referred to as " CASCA ") completed tens of millions of yuan A round of financing, the exclusive investor is CASSTAR. It is reported that this round of financing is mainly used for the research and development and industrialization of quantum precision measurement instruments and atomic quantum computing, to further strengthen the talent reserve of the company, enhance the core competitiveness of the company, and promote and apply the serialized quantum precision measurement instruments and quantum computing products in the fields of scientific research, teaching and popularization of science.

CASCA was founded in 2020. Its core team is from The Institute of Precision Measurement Innovation and Technology, Chinese Academy of Sciences. It has undertaken several national projects including 973, 863 and National Key Research and Development Program. In 2020, the company won the seed round investment of KY PRIVA EQUITY Fund and was selected as a key enterprise of Wuhan Quantum Technology Industry. In 2021, it won the first prize in the final of Hubei Provincial Workmate Cup Entrepreneurship Competition, and won the honor of "Worker Pioneer" of Hubei Labor Union.

The atomic absolute gravimeter developed by the core team participated in the 10th International comparison of absolute gravimeters, and the measurement results were recognized by the BIPM. The instrument's measurement sensitivity and stability and other key indicators have reached the international first-class level. The miniaturized atomic gravimeter independently developed by the team was selected into the list of "Instrument Products independently developed by the Chinese Academy of Sciences".

CASCA 's first-round（August 2021）investment fund management Co., Ltd and CASSTAR, the exclusive investor of this round, are all sub-funds of the master fund of the Chinese Academy of Sciences. The two relay and cooperate to bring resource empowerment to the project at different stages and jointly help the transformation of scientific and technological achievements of the Chinese Academy of Sciences.  

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Achievements transformation fund of Chinese Academy of Sciences