Yunqi Capital Joins Taiwei Quantum's Angel Round Series to Secure Position in Quantum Computing's Upstream Core Components | Yunqi Partners

Quantum computing's march toward engineering maturity depends on a supply chain of core components that are stable enough, precise enough, and manufacturable at scale.

Recently, MQTEK, a platform-level core supplier for neutral-atom quantum computing, completed consecutive angel and angel+ funding rounds, with the Yunqi–SJTU AI Angel Fund participating. MQTEK positions itself as the "pick-and-shovel player" of the quantum computing ecosystem — it doesn't build full systems, but instead supplies standardized, highly stable, mass-producible core components to quantum system builders, research platforms, and national labs. Read on with this issue's Yunqi Partner spotlight.

Yunqi Capital's Investment Thesis

Neutral cold-atom technology has advanced rapidly in recent years, and we've been closely tracking upstream core device opportunities along this path. With downstream technology still evolving quickly, upstream suppliers like MQTEK that can continuously iterate products and build capabilities around industry needs play a critical role in ecosystem development. What particularly impressed us: the MQTEK team entered through teaching and research instruments back in 2021 — before neutral cold-atom became an industry hotspot — and has since put in the long, steady work to accumulate expertise, positioning them right at the inflection point as the industry takes off.

The following is adapted from Hard Kr

Hard Kr has learned that MQTEK, a platform-level core supplier for neutral-atom quantum computing, has completed consecutive angel and angel+ funding rounds. Investors include Inno Angel Fund, Orient Capital, Xiaomiao Langcheng, Yunqi Capital, Shuimu Investment, Yuandong Yuanzhi, and other notable institutions, with Mushi Capital serving as exclusive financial advisor. Proceeds will primarily fund scaling and R&D across three core product matrices.

Founded in 2021, MQTEK focuses on upstream core components for both neutral-atom and ion-trap quantum computing routes. Team members hail from the University of Science and Technology of China, Tsinghua University, Zhejiang University, and other leading institutions at home and abroad, bringing together frontier talent in quantum, AI, optics, mechanical engineering, and hardware. Founder and CEO Xuankai Wang holds a PhD in quantum information and quantum physics from USTC, and has previously developed multiple precision instruments including microscopes, current sources, and lasers.

Wang told Hard Kr that the company positions itself as the "pick-and-shovel player" of the quantum computing ecosystem — rather than building full systems, it supplies standardized, highly stable, mass-producible key components to downstream system builders and research platforms.

The company has established three product lines:

First, the quantum gas microscope (QGM) for single-atom imaging and manipulation. Compared to overseas competitors, MQTEK's objective lenses tolerate higher power, cover a wider imaging band (313–1700 nm), and achieve millimeter-scale fields of view supporting arrays of over 10,000 atoms. The product has already been deployed at more than ten domestic quantum startups and research groups.

Quantum Gas Microscope (Image/Source: Company)

Second, high-precision current sources for generating stable magnetic fields. MQTEK's products are analog-signal-controlled, with noise levels as low as <1 ppm — just one-fifth of overseas competitors — priced at roughly two-thirds, with delivery within two months.

Third, measurement and control systems, currently in R&D, which will enable low-noise, generalized control compatible with current sources, lasers, and other equipment. The system features synchronized concurrent control of dozens of channels of analog and digital signals, with integrated feedback and measurement capabilities supporting real-time closed-loop feedback and high-precision measurement.

MQTEK's customers currently span universities and research institutes (such as Tsinghua University), quantum startups (such as Liangyi Wanxiang), and national laboratories.

On performance: the company formally focused on its core business in the second half of 2023, with 2025 revenue in the millions of RMB and 2026 expected revenue in the tens of millions — 5–10x growth — as it rapidly ramps production capacity.

On product iteration: MQTEK will continue optimizing the QGM's thermal management structure, reducing light absorption rates, and improving coating processes to standardize objective lens products and establish robust testing systems. It will also complete its current source product matrix, developing higher-power supplies and advancing modular design. Additionally, the company is developing an ultra-low-noise, generalized measurement and control system based on customer demand, improving performance while enhancing cross-equipment compatibility.

Wang told Hard Kr that MQTEK aims to let scientists build quantum experimental platforms as modularly as assembling Lego, dramatically shortening R&D cycles.

The following is an excerpt from Hard Kr's conversation with Wang:

Hard Kr:

The company doesn't build full systems but instead focuses on upstream core components. What led to this positioning?

Wang:

Quantum computing is a long-term scientific endeavor with extremely demanding specifications, and often the bottleneck isn't system design but instrument performance. My PhD lab previously purchased overseas equipment with delivery times up to five years, or in some cases the supplier simply wouldn't ship. I did a lot of instrument work during my doctorate and realized no one domestically was building these key components — I wanted to fill that gap.

Moreover, there are already quite a few companies building full systems now, but many upstream directions have virtually no mature commercial suppliers. As a "pick-and-shovel player," we benefit from overall industry growth while also injecting momentum back into the industry's development. At this stage of rapid quantum industry expansion, meeting demand for upstream core component procurement is the most certain, highest-margin, longest-runway position to hold.

Hard Kr:

The quantum computing industry hasn't achieved large-scale commercialization overall. Is upstream market demand large enough? Has demand changed in recent years?

Wang:

Demand has indeed increased noticeably in the past two years. A core reason is that beyond traditional superconducting quantum computing teams, China now has many more neutral-atom-oriented teams. And our products don't just serve quantum computing — they also support quantum communication and quantum precision measurement teams; the same technical system enables many applications.

From a technology push perspective, performance improvements in core components like objective lenses and lasers have directly enabled qualitative leaps in atomic array scale. For example, as field of view expanded from tens of microns to over a millimeter, manipulable atom counts jumped from hundreds to over ten thousand. Plus, the 15th Five-Year Plan has ranked quantum technology first among future industries, so policy support is very strong. This direction will continue developing, and industry demand for upstream core components will keep growing.

Hard Kr:

Your current source products outperform overseas competitors on noise, price, and delivery time. How was this achieved? Where does the technical moat lie?

Wang:

Our current source noise levels reach below 1 ppm; the best overseas product is 5 ppm. Our price is roughly two-thirds of theirs, and delivery time is compressed from 15 months to under two months.

The barriers behind this are multifaceted. First, fundamental circuit design and noise suppression capabilities built up over years during our PhD work. Second, deep understanding of use cases — quantum experiments demand extreme magnetic field stability, and it's not enough to simply build a "low-noise power supply"; you must also address low latency, long-term drift, thermal management, and other issues. Domestic mainstream manufacturers build industrial power supplies controlled via serial port, with noise and long-term drift exceeding 1000 ppm, failing to meet core quantum control requirements.

We're not just building specs, we're building products that "just work." Our 5A/10V, 20A/20V, and 100A/20V bipolar current sources are already shipping in volume, with 500A/30V undergoing engineering iteration. Higher-power current sources also serve major scientific facilities such as particle colliders, controlled nuclear fusion, and synchrotron light sources.