South Korean Quantum Computing Company SDT Raises $7.5M USD to Commercialize First Quantum Computer

Insider Brief:

• SDT secured a 10 billion (approximately 7.5 million USD) KRW Pre-IPO investment from Shinhan Venture Investment to advance their quantum computing technologies.

• SDT plans to commercialize South Korea’s first quantum computer and develop a quantum computing data center for cloud services, with collaborations involving KISTI, Seoul National University, and KIST.

• SDT establishes milestones to develop a 64-qubit superconducting quantum computer by 2026 and further progress in photonic integrated circuit quantum computers by 2027.

(The following was translated from Korean to English using ChatGPT)

PRESS RELEASE—Quantum standard technology company SDT announced on the 28th that it successfully secured a 10 billion KRW (approximately 7.5 million USD) Pre-IPO investment from Shinhan Venture Investment.

SDT, which is in the process of raising a total of 20 billion KRW (approximately 15 million USD), plans to complete its funding efforts by securing the remaining 10 billion KRW (approximately 7.5 million USD) from global companies and existing shareholders in addition to this lead investment.

SDT specializes in creating equipment that controls phenomena such as quantum entanglement and quantum superposition, which are core technologies in the manufacture of quantum computers. It is also a leading company in South Korea’s quantum industry ecosystem.

SDT stated, “With this investment, we will work with the government and local authorities to commercialize South Korea’s first quantum computer and build a quantum computing data center for quantum cloud services.” Within this year, they plan to unveil a Korean quantum computing cloud service in collaboration with the Korea Institute of Science and Technology Information (KISTI). Additionally, SDT will jointly develop quantum processing units (QPUs) based on silicon spin and diamond nitrogen-vacancy (NV) quantum technologies with Seoul National University and the Korea Institute of Science and Technology (KIST).

By the first half of 2025, SDT aims to complete the three-dimensional (3D) array that will serve as the foundation for neutral atom quantum computers. By the first half of 2026, they plan to develop a 64-qubit superconducting quantum computer, and by the first half of 2027, they aim to progress to solving the challenges necessary for the development of photonic integrated circuit (PIC) quantum computers.

Regarding this investment decision, Cho Jae-ho, Executive Director of Shinhan Venture Investment, stated, “SDT is the only quantum computer specialized startup in South Korea with proven capabilities in quantum computer equipment manufacturing, and we expect them to demonstrate their potential not only in the domestic market but also internationally.”

Yoon Ji-won, CEO of SDT, commented, “This is significant as it shows that quantum engineering is no longer confined to the realm of science but can create tangible value across various industries. We will continue to play a leading role in building a Korean quantum computing ecosystem.”

SOURCE: https://news.mt.co.kr/mtview.php?no=2024082816450548057