北大98年物理博士樊耀塬 一个月连融两轮

This article centers on the funding success of a quantum computing startup founded by a young Peking University PhD, with key takeaways as follows:

1. Project basics: Nakai Quantum, a neutral-atom quantum computing company founded by 29-year-old Peking University physics PhD Yaoyuan Fan, has closed two rounds of funding within one month just months after its inception. Its total angel round funding exceeded 100 million yuan, backed by leading institutions including Hillhouse Capital and Feldspar Capital.

2. Project progress: The company operates a joint lab with Peking University and has built its R&D system following global leading practices. It is one of the few domestic firms pursuing both quantum simulation and general-purpose quantum computing. It has already delivered a complete quantum simulation system, secured a tens of millions of yuan order, and laid out a clear roadmap for future R&D and commercialization.

3. Industry overview: The quantum computing sector is seeing surging investor interest and strong policy support. It is currently in an early stage of development, with diversified technology pathways transitioning from lab research to commercialization, and boasts enormous long-term market potential.

This article outlines the latest industry trends and startup development lessons in the quantum technology sector, with key takeaways for brands looking to enter the space as follows:

1. Industry and consumer trends: Investment in quantum computing has grown steadily in recent years. Domestic quantum technology investment in 2025 is projected to triple from 2024 levels, and financing in the first quarter of 2026 has already surpassed the full-year total of 2025. Policy-wise, quantum technology is ranked first among China's six major future industries for the 15th Five-Year Plan period and is classified as a strategic emerging industry eligible for listing on the STAR Market. The combination of these three drivers creates strong growth certainty for the sector.

2. Product R&D direction: Specialized quantum simulation will reach industrial commercialization earlier than general-purpose quantum computing, with downstream demand concentrated in semiconductor simulation, new material development, AI-driven drug discovery and biopharmaceuticals. The neutral atom technology pathway offers standout scalability advantages, and diversified technology pathways have become industry consensus.

3. R&D cooperation model: Brands can learn from Nakai Quantum's model of operating joint labs with universities and splitting core technology development across small agile teams before integrating outputs. This approach leverages academic research resources to maintain technological leadership.

The quantum computing sector is currently benefiting from dual tailwinds of policy support and capital inflows. Below is a summary of related opportunities, risks and policy updates:

1. Policy analysis: The 15th Five-Year Plan for the first time lists general-purpose quantum computing and specialized quantum computing as equally prioritized development areas, explicitly supporting diversified technology pathways. The Shanghai Stock Exchange has revised STAR Market rules to include quantum technology as a strategic emerging industry. With overall strong policy support, the sector is well-suited for new布局.

2. Market opportunities: Quantum simulation already meets the requirements for commercial deployment, with clear unmet demand from downstream sectors including semiconductors, new materials and AI-driven drug discovery. Currently, very few domestic teams can deliver engineered, complete ultracold atom quantum simulation systems, leaving significant room for new entrants. Neutral atom-based general-purpose quantum computing is the leading long-term technological direction, with extremely high growth ceilings.

3. Risk notes: Industry competition has shifted from competing on single technical indicators to competing on system integration, product delivery and long-term cumulative capabilities. This is a long-haul sector that requires sustained capital investment, and large-scale profitability is unlikely in the short term. Market participants must secure sufficient long-term capital and avoid short-term, trend-chasing entry.

The growth of the quantum computing industry is creating new business opportunities and upgrade pathways for manufacturing facilities. Key takeaways are as follows:

1. R&D collaboration opportunities: Quantum simulation computers can simulate the real properties of materials and drugs using quantum systems, helping new material manufacturers, semiconductor fabs and pharmaceutical companies eliminate ineffective R&D projects early, drastically cutting R&D costs and shortening development cycles. Factories with R&D demand can proactively connect with quantum computing firms to explore collaborative R&D opportunities.

2. Supply chain business opportunities: The R&D and manufacturing of complete quantum computing systems and cold atom experimental equipment require large volumes of high-precision core components and precision experimental equipment. Factories with advanced precision manufacturing capabilities can develop targeted supporting businesses to capture share in this emerging, underserved market.

3. Digital upgrade insights: Quantum computing is the next generation of core computing power, and will gradually penetrate the entire R&D and production process of manufacturing. Factories can monitor technological progress early and build R&D systems adapted to new computing power to capture opportunities from the next generation of technological change.

The industrialization of quantum computing is creating new growth opportunities for a wide range of business service providers. Key insights are summarized below:

1. Industry trends: Quantum computing has progressed from laboratory proof-of-concept to the engineering and industrialization phase. Backed by both policy and capital, a large number of new startups are entering the sector, driving rapid growth in demand for supporting services. The overall sector is in a high-growth incremental development stage.

2. Core customer pain points: Quantum computing startups commonly face three core challenges: first, heavy long-term R&D spending creates significant early-stage capital pressure; second, most teams come from academic backgrounds and lack engineering and system integration capabilities as well as supply chain resources; third, they lack channels to connect with downstream industrial customers, making commercial expansion very difficult.

3. Targeted service opportunities: Service providers can build out three high-demand service lines: first, financing consulting and policy application services for quantum computing firms, helping them access capital and policy resources; second, supply chain supporting services that integrate precision manufacturing resources to meet R&D and production needs; third, industry matchmaking services that connect quantum computing teams with downstream semiconductor, pharmaceutical and material companies to facilitate commercial partnerships.

The coming boom of the quantum computing industry is creating new layout opportunities for science and technology innovation platforms and industrial platforms. Key takeaways are as follows:

1. Core demand from startups: Quantum computing startups currently need platforms to connect them to four categories of core resources: university research collaboration resources, downstream industrial customer resources, capital connection services, and precision manufacturing supply chain resources. Platforms can build their service systems around these needs.

2. Investment and recruitment direction: Quantum technology aligns with national strategic priorities and capital market preferences. Platforms should prioritize recruiting quantum computing startups, with a focus on teams focused on the neutral atom pathway that already have the capability to deliver engineered complete quantum simulation systems. These projects have already achieved commercial traction and offer stronger growth certainty.

3. Operations and risk mitigation: Industry competition has shifted from competing on single experimental metrics to competing on system integration and product delivery capabilities. When evaluating projects, platforms should not rely solely on paper technical specifications. They should prioritize assessing teams' engineering capabilities, commitment to long-term R&D and capital reserves, to avoid onboarding projects without commercialization capabilities and reduce layout risk.

This article outlines the latest developments in China's domestic quantum computing industry, with key insights for industry research as follows:

1. New industry dynamics: Investment in the quantum computing sector is growing rapidly, with clear policy support. Diversified technology pathways have received official recognition from national planning, and industry competition dynamics have shifted: early competition focused on single experimental metrics, while today competition centers on engineering integration and product delivery capabilities. Following breakthroughs in continuous loading technology, the neutral atom pathway has entered an industrialization window and become a new hot area for investors and entrepreneurs.

2. Innovative business model: Nakai Quantum's "dual-wheel drive" model addresses the long-standing capital pain point for R&D: it generates cash flow from commercial specialized quantum simulation (which reaches market traction faster) to fund long-term R&D for general-purpose quantum computing, while integrating academic research resources through a joint lab with Peking University. This model offers valuable reference for other hard tech startups.

3. Insights for policy research: Current policy already explicitly supports diversified technology pathways. Going forward, policymakers can increase support for the commercialization of specialized quantum computing to help startups address capital constraints during long R&D cycles and accelerate industry maturation.