KUALA LUMPUR, March 11 (Bernama) -- Horizon Quantum Computing Pte Ltd (Horizon Quantum), a pioneer of software infrastructure for quantum applications, has achieved several milestones as it moves closer to completing its proposed business combination with dMY Squared Technology Group Inc (dMY).
In a statement, Horizon Quantum Founder and Chief Executive Officer, Dr Joe Fitzsimons said the company has strengthened its operations and governance while advancing its mission to build software infrastructure for the quantum computing industry.
Among recent developments, Horizon secured an oversubscribed private investment in public equity (PIPE) financing round that more than doubled its original US$50 million target. Lead investors include quantum computing company IonQ, a Fortune 50 technology firm, and several institutional investors. (US$1=RM3.92)
The funds are expected to support research and development, enhance Horizon’s hardware testbed and further develop its web-based quantum software platform, Triple Alpha.
The company also announced expected appointments to the board of Horizon Quantum Holdings Ltd, which will become the holding company following the business combination. They include former Apple Vice President Danielle Lambert, Grab Chief Financial Officer Peter Oey, Broadcom Chief Human Resources Officer Jill Turner and dMY Chairman Harry You.
Horizon also completed the assembly and integration of a fully operational quantum computer at its Singapore headquarters, becoming the first quantum software company to own and operate such a system as a hardware integration testbed.
In addition, the company announced a strategic collaboration with Alice & Bob to integrate cat qubit emulators into its Triple Alpha platform, supporting the development of fault-tolerant quantum computing applications.
Horizon also launched Beryllium, a hardware-agnostic, object-orientated quantum programming language designed to support the development of more complex quantum applications.
dMY will hold a special meeting of its shareholders on March 17 to vote on proposals related to the business combination, which is expected to close in the first quarter of 2026, subject to approvals and customary conditions.
-- BERNAMA
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