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1、Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.https:/2024 Global Overviewof Quantum UnicornEnterprisesAugust,2024IntroductionIn exploring the field of quantum technology,a group of enterprises

2、 stands outquantum unicorns.These enterprises can beconsidered genuine choices in terms of their substantial investments.From these unicorns,we might discern the forefrontof quantum innovation and the future of the industry.Currently,the quantum industry is in its early development stage,and the num

3、ber of enterprises that meet the unicorn criteriadefined in this report is relatively limited.To provide a more comprehensive view of the innovation vitality and developmentpotential in the quantum technology field,this report also pays attention to near-unicorn enterprises.By analyzing quantum unic

4、orns and near-unicorns,this report aims to delve into the current state and future trends of theseenterprises,presenting global quantum startups with growth potential and value.It seeks to offer some reference for investors,entrepreneurs,and policymakers.Additionally,through an analysis of factors s

5、uch as the companys location,sub-sector,growthduration,financing valuation,and future IPO prospects,this report helps readers gain a deeper understanding of the developmenttrends of quantum enterprises,grasp future investment opportunities,and contribute to the advancement of the global quantumindus

6、try.02Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of

7、the publisher.Definitions of Quantum Unicorns,Quasi-Unicorns,and Publicly Listed UnicornsQuantum Unicorn EnterprisesEstablished for no more than ten years,these enterprises have achieved rapid growth within a relatively short period.Having received private equity investment from professional investm

8、ent institutions and not yet listed,they demonstrate high recognition and potential value in the capital market.With a post-money valuation exceeding(or equal to)$1 billion in their most recent financing round,these enterprises show a high level of market recognition and industry status.03In this re

9、port,the terms“Quantum Unicorn Enterprises”and“Quantum Quasi-Unicorn Enterprises”refer to:This criterion ensures that we focus on quantum enterprises with genuine unicorn potential while aligning with the valuationstandards used outside the quantum industry for defining unicorns,thereby maintaining

10、cross-industry comparability.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.03Quantum Quasi-Unicorn EnterprisesPublicly Listed Unicorn EnterprisesDefinitions of Quantum Unicorns,Quasi-Unicorns,

11、and Publicly Listed Unicorns04Having received private equity investment from professional investment institutions and not yet listed.With a post-money valuation exceeding(or equal to)$100 million in the most recent financing round,and having been establishedfor no more than five years.With a post-mo

12、ney valuation exceeding(or equal to)$500 million in the most recent financing round,and having been establishedbetween five and ten years ago.A company that was a unicorn before going public and has now successfully listed.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in

13、any form or by any means without express written permission of the publisher.05Table of ContentsCopyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.Analysis of Global Quantum Unicorn EnterprisesAnal

14、ysis of Global Quantum Quasi-Unicorn EnterprisesConclusion and Outlook251806PART ONEAnalysis of GlobalQuantum UnicornEnterprisesCopyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.Copyright 2024 by

15、ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.07Globally,there are a total of 9 quantum unicorn enterprises and 30quantum quasi-unicorn enterprises.CNCountries with Quantum Unicorn/Quasi-Unicorn EnterprisesQuan

16、tum Unicorn EnterprisesQuasi-Unicorn EnterprisesDistribution of quantum unicorn enterprises/Quasi-Unicorn enterprisesAUILUSUKFIIT FRDEESCHNLGlobal Distribution of Quantum Unicorn Enterprisesby CountryThe total valuation of global quantum unicorn enterprises is$19.555 billion,with China and the Unite

17、d States accounting for approximately 80%of thisvalue.The total valuation of U.S.enterprises is$11 billion,the highest among all countries,accounting for approximately 56%of the total valuation acrosscountries.China follows closely with a total company valuationof$4.77 billion,accounting for approxi

18、mately 24%of the total valuation.08Enterprises CountryEstablished TimeGrowth PeriodTotal Valuation(in Billions of USD)SandboxAQUSA2022150.00PsiQuantumUSA2016830.00QuantinuumUSA2021330.00QtictChina2016522.50Origin QuantumChina2017515.00IQMFInland2018413.95Silicon Quantum ComputingAustralia2017513.00P

19、asqalFrance2019410.90CIQTEKChina2016510.20Proportion of Total Valuation by Country for Quantum Unicorn enterprises56%24%7%7%6%USAChinaFinlandAustraliaFranceCopyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the

20、publisher.|Version Aug.2024|Version Aug.2024Data Source:Yahoo Finance.The average valuation of U.S.quantum unicorn enterprises is$3.67 billion,significantly higher than the global average.09U.S.enterprises have been active in securingfunding,with significant investments receivedafter 2023,primarily

21、from major players suchas JPMorgan Chase and Honeywell.Quantum unicorn enterprises in China,France,Finland,and Australia have similar averagevaluations,but all are below the global averagelevel.1.091.301.401.592.173.670.000.501.001.502.002.503.003.504.00FranceAustraliaFinlandChinaGlobal averageUSACo

22、pyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.|Version Aug.2024Average Valuation of Quantum Unicorn enterprises by country(Unit:USD Billion)Quantum unicorns are mostly in quantum computing,78%of

23、 the total number and valuation.10Quantum unicorn enterprises are primarily concentratedin three major fields:quantum computing,quantumcommunication and security,and quantum precisionmeasurement.In the field of quantum computing,7 enterprises accountfor 78%of the global total,with 6 focusing on quan

24、tumcomputing hardware(67%)and 1 on software.There is 1company each in the fields of quantum communication and security,and quantum precision measurement.In terms of valuation,enterprises in the quantum computingfield have a total valuation of$16.285 billion,representing78%of the global valuation.The

25、 valuation share of enterprisesin quantum communication and security,as well as quantumprecision measurement,is both below 15%.The total valuationof quantum computing hardware enterprises is$11.285 billion,while the sole quantum computing software company has a valuation of$5 billion.1.022.252.33Qua

26、ntum Precision MeasurementQuantum Communication&SecurityQuantum computingGlobal Valuation Distribution of Unicorn enterprisesin Various Quantum Fields(Unit:Percentage,USD Billion)11%5%58%26%84%quantum communicationquantum precision measurementquantum computing hardwarequantum computing softwarequant

27、um computingCopyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.|Version Aug.2024|Version Aug.2024The average time for global quantum unicorn enterprises to reach unicornstatus is 4.4 years.In the U

28、.S.,SandboxAQ and Quantinuum achieved unicornstatus within three years.11Distribution of Time from Founding to Unicorn Status forQuantum Unicorn enterprisesThe average time for the 9 global quantumunicorn enterprises to reach unicorn statusis 4.4 years,with most achieving this within4 to 6 years.In

29、the U.S.,SandboxAQ and Quantinuum reached unicorn status within three years,demonstrating efficient research anddevelopment,effective market promotion,and strong investor confidence.Although PsiQuantum has been establishedfor 8 years,its steady development and technological innovation are equally no

30、teworthy.261Within 3 years4 to 6 years7 to 10 yearsWithin 3 years4 to 6 years7 to 10 yearsCopyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.|Version Aug.202412Most of the publicly listed unicorn e

31、nterprises have gone public after 2020The distribution of the number of enterprises by time period from establishment to IPO223Over 10 years5-10 yearsLess than 5 yearsCurrently,7 quantum pre-unicorn enterprises have gone public,with most listing after 2020.The time fromestablishment to IPO for these

32、 enterprises is approximately 9 years.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.|Version Aug.2024Listed unicorn enterprises are facing the challenge of negative net profits13Overview of pu

33、blicly listed unicorn enterprises(in million USD)The 2023 annual reports of listed quantum unicorn enterprises indicate that net profits are generally negative.Although revenue has increased,financial losses have been severe over the past two years.In 2023,the averageloss was$60.3 million,representi

34、ng a 173%increase compared to 2022,with losses continuing to expand.CompanyCountryEstablishedTimeRelease DateFieldsListed exchangeMarket ValueRevenue in 2022Revenue in 2023Annual revenue growth rateNI in 2022Net profit growth rateChina20092020.07QCSSE407518.5321.4716%-11.85-17.0444%qtecChina20122016

35、.06QMNEEQ665.577.2630%-2.87-7.31155%IONQUSA20152021.01QCNASDAQ170911.1322.0498%-48.51-157.77225%Rigetti ComputingUSA20132022.03QMNYSE18113.1012.01-8%-71.52-75.115%Quantum Computing IncUSA20182021.07QCNASDAQ600.140.36164%-38.59-29.73-23%D-WaveCanada19992022.08QCNYSE1767.178.7622%-53.70-82.7254%ArqitU

36、K20172021.09QMNASDAQ637.210.64-91%65.08-70.39-208%QuantumCTekCopyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.|Version Aug.2024Note:Quantum Computing（QC）,Quantum Communication&Safe（QM）NI in 2023D

37、ata Source:Yahoo Finance.14Monthly average stock price changes for D-Wave,Quantum Computing Inc.,Rigetti Computing,and Arqit(August 2023-July 2024)0.00 0.50 1.00 1.50 2.00 2.50 2023.082023.092023.102023.112023.122024.012024.022024.032024.042024.052024.062024.07Note:Stock prices are based on daily cl

38、osing prices and are denominated in USD;Data Source:Yahoo Finance.Some listed pre-unicorn enterprises have experienced prolonged periodsof low stock prices.Over the past year,the stock prices of D-Wave,Quantum Computing Inc.,Rigetti Computing,and Arqit have remained below two dollars for extended pe

39、riods.Notably,Quantum Computing Inc.and Arqit both had stockprices below one dollar for at least 10 months,with Arqits stock price remaining below one dollar for the entireyear.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express writt

40、en permission of the publisher.|Version Aug.2024Rigetti Computing D-waveQuantum Computing IncArqitSome listed pre-unicorn enterprises are currently facing the risk of delisting15Daily stock price changes for Rigetti,IONQ,D-Wave,and QCI.(June 24,2024-July 24,2024)0.000.200.400.600.801.001.201.402024/

41、6/242024/6/272024/6/302024/7/32024/7/62024/7/92024/7/122024/7/152024/7/182024/7/21ArqitD-waveQuantum Computing IncRigettiThe stock prices over the past 30 days show that Quantum Computing Inc and Arqit have consistently tradedbelow$1,posing a risk of delisting from Nasdaq.Although D-Wave and Rigetti

42、 Computing are listed on the NYSE,their stock prices have also been fluctuating around$1,which similarly presents a significant risk of delisting.Note:Stock prices are based on daily closing prices and are denominated in USD;Data Source:Yahoo Finance.Copyright 2024 by ICV TAnK.This work may not be r

43、eproduced or distributed in any form or by any means without express written permission of the publisher.|Version Aug.2024The stock prices of publicly traded former unicorn enterprises with no riskof delisting have shown no significant upward trend.16The monthly average stock price changes for IONQ

44、and Quantum CTek(August 2023-July 2024,in USD).Note:The stock prices are based on daily closing prices,with the data up to July 24,2024.Sources:Yahoo Finance,Sina Finance.0.005.0010.0015.0020.0025.0030.0035.002023.082023.092023.102023.112023.122024.012024.022024.032024.042024.052024.062024.07Over th

45、e past year,IONQs stock price has decreased but has remained above$5,while Guodun Quantums stockprice has stayed above$15,exceeding$20 in the past six months,though with significant volatility.Both enterprisesdo not face delisting risks.However,from August 2023 to January 2024,the overall trend for

46、quantum unicorns has been a downward fluctuation.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.|Version Aug.2024Quantum CTekIONQSandboxAQ and Quantinuum are leading in valuation and growth.Pas

47、qal,with its neutral atom quantum computing and 100 million in Series Bfunding,shows strong growth prospects.17CompanyCompany OverviewTechnical AdvantagesCore TeamKey DevelopmentsFounded by Jack Hidary in 2016 and spun off from Alphabet in 2022.The company focuses on the integration of AI and quantu

48、m technology.Combining AI and quantum computing to address complex problemsThe company focuses on quantum security and quantum sensing.CEO:Jack Hidary Chairman of the Board:Eric SchmidtChief Scientist:Stefan Leichenauer In March 2024,the company launched the AQtive Guard encryption management platfo

49、rm.In June 2024,it released the AQNav navigation system.Formed by the merger of Honeywell Quantum Solutions and Cambridge Quantum Computing.The company is dedicated to integrating quantum hardware and software.Utilizing ion trap technology,the company offers high qubit fidelity and long coherence ti

50、mes.The company focusing on the development of high-performance quantum computers and advanced quantum algorithms.CEO:Rajeeb Hazra Chairman of the Board:IlyasChief Scientist:Bob Coecke In March 2024,the company addressed scalability issues in quantum computing.In July 2024,it achieved a breakthrough

51、 in fault-tolerant quantum computing through a collaboration with Microsoft.Founded in 2019 and headquartered in Paris,France.The company focuses on neutral atom quantum computing technology.Using neutral atom technologyThe company offers scalability and high control precision,making it suitable for

52、 simulating complex quantum systems and solving combinatorial optimization problems.CEO:Georges-Olivier Reymond Chief Science Officer:Thierry Lahaye Chief Technology Officer:Antoine Browaeys In June 2024,more than 1,000 atoms were loaded at once.In May 2024,a satellite scheduling problem was solved.

53、Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.|Version Aug.2024PART TWOAnalysis of GlobalQuantum Quasi-Unicorn EnterprisesCopyright 2024 by ICV TAnK.This work may not be reproduced or distribu

54、ted in any form or by any means without express written permission of the publisher.19There are a total of 30 quantum quasi-unicorn enterprises globally,with aconcentration in Europe.Globally,there are 30 quantum quasi-unicorn enterprises,distributed across North America,Asia,Oceania,and Europe.Euro

55、pe isthe most concentrated region for these enterprises,with 18 of them,accounting for 60%of the total number of quantumquasi-unicorn enterprises worldwide.The distribution of quantum quasi-unicom enterprises by country and region globally17%20%4%20%17%3%3%7%3%3%3%59%North AmericaEuropeAsiaOceaniaFr

56、anceUKFinlandSwitzerlandGermanyIrelandNetherlandsSpain|Version Aug.2024Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.The total valuation of global quantum quasi-unicorn enterprises is$7.466bil

57、lion.The top three countries are the United Kingdom,France,and theUnited States,with China accounting for 10%of the global total.20Ranking of countries by the number of global quantum quasi-unicorns and their share of the total valuationThe total valuation of global quantum quasi-unicorn enterprises

58、 is$7.466 billion.The United Kingdom,France,and theUnited States each have valuations exceeding$1.5 billion,making them the top three countries.The UK leads with a valuation of$1.678 billion,followed by France with$1.578 billion and the U.S with$1.5 billion.Chinas valuation is approximately half tha

59、t of the United States,accounting for 10%of the global total.Other countrieshave valuations of less than 10%each.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.446522211112USAFranceChinaUKFinla

60、ndGermanyIsraelNeitherlandsIrelandAustraliaSpainSwitzerland19%20%10%21%7%4%3%2%1%2%3%8%|Version Aug.202421The average valuation of quantum quasi-unicorns is highest in Switzerlandat$600 million,with the UK and the US next.Chinas average is$188million,highlighting a need for better growth and market

61、recognition.0.110.130.130.150.150.170.190.260.270.300.340.600.000.100.200.300.400.500.600.70IrelandIsraelNeitherlandsAustraliaFinlandGermanyChinaFranceSpainUSAUKSwitzerlandAverage valuation of quantum quasi-unicorn enterprises by country(Unit:USD Billion)Switzerland leads with$600 million,followedby

62、 the United Kingdom with$336 million andthe United States with$300 million.Spains single enterprise is valued at$273 million,ranking fourth.France is fifth with$256 million,and other countries have notexceeded$200 million.China averages$188 million,and needs toenhance growth potential and market rec

63、ognition.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.|Version Aug.202422Distribution of the total valuation of globalquasi-unicorn enterprises across various quantum fieldsAverage valuation

64、of quantum unicorn enterpriseswithin the technology routes of the quantumcomputing field(Unit:USD Billion)Global quantum quasi-unicorn enterprises are primarily concentrated in thequantum computing field.Quantum computing has a total valuation of$7.145 billion,representing90%of the market.Within thi

65、s,hardware enterprises are valued at$4.967billion,and software enterprises at$2.178 billion.Quantum communicationand security have a valuation of$920 million,accounting for 10%of the market,with fewer enterprises in this sector.Despite significant differences in total valuations across fields,the av

66、eragevaluation of enterprises within each sector(including technology routes)ranges between$200 million and$300 million,with no notable differencesobserved.11%62%27%89%Average valuations of quantum unicornenterprises across different fields(Unit:USD Billion)0.240.26quantum computing hardwarequantum

67、computing softwareCopyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.Quantum Communication&SafeQuantum Computing HardwareQuantum Computing SoftwareQuantum Computing|Version Aug.20240.260.31Quantum

68、ComputingQuantum Communication&Safe23Most quantum quasi-unicorn enterprises are in the early stages ofdevelopment,with 66.7%of their funding occurring at the Series A roundor earlier.Out of a total of 30 funding rounds for quantumquasi-unicorn enterprises,19 rounds occurredat the seed stage or Serie

69、s A,accounting for approximately 66.7%of the total.Most quantum quasi-unicorn enterprises arestill in the early stages of development,withrelatively low levels of social capital investment.In the quantum computing field,about 25%ofenterprises,whether in quantum computing hardware or software,have ad

70、vanced to SeriesB funding rounds.In contrast,quantum communication sector enterprises largely remain at the Series A funding stage.The funding round situation for global quantum quasi-unicorn enterprises14$420MA4$230MB5$76MOthers$81M5Seed10%29%9%Funding rounds and number of roundsSeedABOthersNote:A2

71、 and Pre-A rounds are merged into Series A;Pre-B and B+rounds are merged into Series B.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.|Version Aug.2024|Version Aug.202452%Leading enterprises At

72、om Computing and Quandela have valuations of$600million and$545 million,respectively,placing them at the forefront of quantum quasi-unicorn enterprises.Both have demonstrated significant growth within a span of approximately five years.24Copyright 2024 by ICV TAnK.This work may not be reproduced or

73、distributed in any form or by any means without express written permission of the publisher.CompanyCompany OverviewTechnical AdvantagesCore TeamKey DevelopmentsFounded in 2018,this American startup focuses on developing neutral atom quantum computers.Based on neutral atom qubits,This technology offe

74、rs the advantages of long coherence times and room temperature operation,ensuring high performance and precision.CEO:Ben Bloom Chief Scientist:Jonathan King Chief Product Officer:Justin GingIn October 2023,the company created a 1,180-qubit,1,225-site atomic array.In August 2023,it partnered with NRE

75、L(National Renewable Energy Laboratory)to optimize power grid operations.Founded in 2017 and headquartered in Paris,FranceThe company specializes in single-photon quantum computing and communication technology.Quantum dot single-photon source technology produces high-purity,high-efficiency single ph

76、otons,enhancing quantum information processing performance.Its modular design helps reduce development costs.CEO:Valrian Giesz CTO:Niccolo Somaschi Co-founder:Pascale Senellart In May 2024,the company launched Quandela Cloud 2.0.In July 2024,it collaborated with EDF and others to optimize the energy

77、 consumption of quantum computers.|Version Aug.2024Conclusions and OutlookCopyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.26Conclusions and Outlook（1/5）Compared to cutting-edge fieldslike AI,the

78、 total valuation ofquantum unicorn enterprises isrelatively low.As of July 2024,the total valuation of global quantum unicorn and quasi-unicorn enterprises is approximately$27.2 billion,significantly lower than the$3.8 trillionvaluation of the 1,229 unicorn enterprises worldwide.Although the average

79、 valuationof quantum enterprises is$2.173 billionbelow the global average of$3.092 billionthe average growth time is only 4.4 years,much faster than the 7.1 years for other industries.This rapid growth is attributed to cutting-edge innovations in quantum technology,technological barriers,capital inv

80、estment,and policy support.However,quantum technology faces constraints such as technical challenges,commercializationhurdles,and talent shortages,which impact commercialization andinvestor willingness.Despite the valuation and quantity gap compared to frontier technologies like artificial intellige

81、nce,the rapid growth and technological innovationpotential of quantum technology indicate significant future development opportunities.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.|Version Au

82、g.2024Whether it isquantum unicornenterprises or quasi-unicorn enterprises,they are all concentrated in thefield of quantumcomputing.|Version Aug.202427Conclusions and Outlook（2/5）Among the 37 unicorn and quasi-unicorn enterprises in the quantum field,over 90%are involved in quantum computing,indica

83、ting a high concentration in this area.Quantum computing encompasses various technology routes,including superconducting,neutral atoms,ion traps,photonic,and cold atoms,providing numerous opportunities fordevelopment.In contrast,quantum communication and quantum precision measurementare more limited

84、 in scope and high in cost,primarily serving government,financial institutions,and high-precision research sectors,which restricts participation from smalland medium-sized enterprises.In the future,quantum computing enterprises are expected to remain at the forefront,while improvements in infrastruc

85、ture and policy support could expand the applicationscope of quantum communication and quantum precision measurement,potentially increasing the number of enterprises in these areas.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express w

86、ritten permission of the publisher.|Version Aug.202428Conclusions and Outlook（3/5）Quantum unicornenterprises areprimarilyconcentrated inChina and the U.S,while quasi-unicorn enterprisesare distributedacross 12 countries.Quantum unicorn enterprises are primarily distributed across five countries:the

87、United States,China,Finland,France,and Australia.Among these,the United States and Chinaeach have 3 enterprises,accounting for a total of 66.7%.These two countries lead intechnological innovation,R&D investment,and government policy support,withinvestments of$380 billion and$9.2 billion in the quant

88、um computing field,respectively.The latter represents 42.1%of global investment.Quantum quasi-unicorn enterprises are more widely distributed,spanning 12 countries,with France leading with 6 enterprises,and the UK and the US each having 5.These countries are emerging as significant players in the qu

89、antum technology field through policy and financial support,such as the UKs plan to invest$1.3 billion and Frances planto invest$2 billion over the next five years.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission

90、 of the publisher.Some quasi-unicornenterprises havedemonstratedsignificantgrowth potential.|Version Aug.2024Conclusions and Outlook（4/5）29Terra Quantum and Atom Computing are two quasi-unicorn enterprises with high growthpotential,both established approximately 5 years ago.Terra Quantum focuses on

91、quantumcomputing and quantum communication,with a broad scope in these fields.In November2022,it completed a$60 million Series A funding round,achieving a valuation of$600million,making it the highest-ranked among quasi-unicorn enterprises.Atom Computing specializes in neutral atom quantum computing

92、 and completed a$60million Series B funding round in January 2022,also reaching a$600 million valuation,reflecting strong market recognition of its technology and future prospects.Both enterprises are expected to become quantum unicorns within the next two years.Copyright 2024 by ICV TAnK.This work

93、may not be reproduced or distributed in any form or by any means without express written permission of the publisher.|Version Aug.2024Conclusions and Outlook（5/5）30Over-aged unicorn enterprises stillhave significantgrowth potential.As of July 2024,there is one“over-aged”unicorn company in the global

94、 quantum field,Infleqtion.Established in 2007,the company focuses on cold atom quantum computingand quantum precision measurement.After completing a$110 million Series B fundinground in 2022,its valuation reached$1.1 billion,representing approximately a 15-fold increase from the$68 million valuation

95、 in July 2018.Despite fluctuations in its valuation over the past four years,the overall trend has beenupward,reflecting strong capital market recognition of its technological capabilities andfuture potential.This also indicates the core position and extensive commercialization prospects of quantum

96、technology in the global tech competition.Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.Contact UsTechnology Advisory&KnowledgebaseCanada5250 Fairwind Dr.Mississauga,Ontario.L5R 3H4.CanadaSingapore101 Upper Cross Street,#04-17.Peoples Park Centre,Singaporehttps:/Copyright 2024 by ICV TAnK.This work may not be reproduced or distributed in any form or by any means without express written permission of the publisher.