Singapore's Horizon Quantum lists on Nasdaq after merger

Horizon Quantum Computing is a Singapore-based quantum software firm. It began trading on Nasdaq under ticker HQ on March 20, 2026, after completing a merger with dMY Squared Technology Group.

The deal closed on March 19 after shareholder approval, and Horizon said it received about US$120 million in gross proceeds before expenses.

Horizon said its US$110 million PIPE financing was oversubscribed against a US$50 million target, and it named IonQ and an unnamed Fortune 50 tech company among lead investors.

The listing comes as Singapore backs quantum research with S$300 million (US$233.79 million) over five years, and MAS has invested another S$100 million (US$77.93 million) for quantum and AI in finance.

Horizon also said it launched a hardware test bed in December 2025.

🔗 Source: Horizon Quantum

🧠 Food for thought

Implications, context, and why it matters.

Horizon is betting on software to unify a fragmented quantum hardware market

Horizon Quantum focuses on a practical hurdle. Quantum computers built with trapped ions or superconducting qubits rely on different tech and often need different programming methods 1.
Its Triple Alpha platform aims to be hardware-agnostic. Developers can write code without betting on a single hardware design 1.
The company sells the software layer that can sit on top of competing machines. That approach lets it gain value even if one hardware type pulls ahead 2.
Horizon runs a hardware testbed in Singapore to connect its software with low-level control systems. The setup also supports more advanced programming features 1.

The listing offers a blueprint for commercializing deep tech

The SPAC (special purpose acquisition company) deal offers a funding path for firms with long research cycles before meaningful revenue arrives 2.
Horizon’s CEO referenced an industry survey that, in his view, put commercial quantum applications three to five years away. He said his outlook is broadly aligned, though somewhat more optimistic 1.
The listing suggests the quantum sector is moving past early-stage experiments. More money is going into software plus infrastructure, not only hardware work 2.
Horizon announced expected board additions that include executives formerly of Apple, plus directors from Broadcom and Grab. The company framed the picks as part of preparing for public-company operations after the business combination closes 3.