# Horizon Quantum Computing

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/horizon-quantum-computing

- Industry: Software
- Headquarters: Singapore, Singapore
- Website: www.horizonquantum.com
- Total disclosed funding: $34M
- Latest round: Series A (Mar 31, 2023)
- Investors on record: 8

## About

Based in Singapore, Horizon Quantum Computing develops innovative software solutions that simplify quantum programming, enabling users to effectively leverage quantum computing capabilities across various industries.Horizon Quantum Computing, founded in 2018 in Singapore, specializes in creating advanced software tools for quantum computers. The company is led by CEO Joe Fitzsimons, who has a background in technology and innovation. Horizon Quantum has successfully completed 4 deals, with its most recent funding round on March 31, 2023, raising USD 18.1 mn in Series A funding from investors including Expeditions Fund, Pappas Capital, SGInnovate, Sequoia Capital, and Tencent Investment. This funding round marked the total amount raised to USD 18.1 mn.Horizon Quantum Computing focuses on developing sophisticated software tools that facilitate quantum programming. Its flagship product, Triple Alpha, is a web-based integrated development environment (IDE) that allows users to write quantum software using a BASIC-like syntax. This IDE enhances the execution of code initially designed for classical systems, optimizing it for quantum hardware deployment. The company's offerings cater to a wide range of clients, from individual developers to large enterprises in the tech and research fields, targeting markets in North America, Europe, and parts of Asia, particularly in sectors like finance, pharmaceuticals, and logistics.In the most recent fiscal year, Horizon Quantum Computing reported a revenue of USD 61,674.4 and an EBITDA of USD -1,692,035.2. Revenue generation primarily comes from subscription models for its software tools, especially the Triple Alpha IDE, which clients access through annual or monthly subscriptions. The pricing is tailored to accommodate individual developers as well as large corporations with heightened computational needs, facilitated through direct agreements and integrated payment systems.Following its recent Series A funding round of USD 18.1 mn, Horizon Quantum Computing plans to expand its engineering team and enhance product development capabilities. The company aims to introduce new products that will leverage expanding market opportunities and demand for quantum computing solutions. Additionally, it seeks to penetrate new geographic regions, specifically targeting markets in Europe and Asia by the end of 2024. The funding acquired will support these initiatives, allowing Horizon Quantum to accelerate its growth trajectory and product offerings.

## Funding rounds

- Series A, Mar 31, 2023, $18M — Hong Shan, Pappas Capital, Tencent Investment, SGInnovate, Expeditions Fund
- Series A, Apr 7, 2022, $13M — Hong Shan, Tencent Investment
- Seed, Apr 28, 2020, $2.4M — Hong Shan, DCVC, SGInnovate, Abies Ventures, Posa CV
- Seed, Jan 30, 2019, $0.8M — DCVC, SGInnovate, Abies Ventures, Posa CV

## Investors

- DCVC (https://capitalatlas.ai/funds/dcvc) — Seed
- SGInnovate (https://capitalatlas.ai/funds/sginnovate) — Seed, Series A
- Abies Ventures (https://capitalatlas.ai/funds/abies-ventures) — Seed
- Posa CV — Seed
- Hong Shan — Seed, Series A
- Tencent Investment — Series A
- Pappas Capital (https://capitalatlas.ai/funds/pappas-capital) — Series A
- Expeditions Fund (https://capitalatlas.ai/funds/expeditions-fund) — Series A