Horizon Quantum Computing Pte. Ltd., a developer of software infrastructure for quantum applications, has completed its business combination with special purpose acquisition company dMY Squared Technology Group, Inc., securing approximately $120 million in gross proceeds and setting the stage for its public market debut.
The transaction was approved by dMY shareholders at a special meeting on March 17, 2026. The combined company is expected to begin trading on Nasdaq on March 20 under the ticker symbols “HQ” for its Class A ordinary shares and “HQWWW” for its warrants.
The capital raised will be used to accelerate Horizon Quantum’s research and development efforts, expand its hardware testbed, and further develop its integrated development environment, Triple Alpha. The company focuses on building hardware-agnostic software infrastructure designed to enable developers to harness quantum computing for complex computational challenges.
Horizon Quantum, founded in 2018, aims to bridge the gap between emerging quantum hardware and practical applications by offering advanced development tools that allow programming across multiple levels of abstraction.
The company positions itself to benefit from broader industry momentum in quantum computing, including advancements in hardware and error correction, which are bringing the field closer to real-world usability.
KEY QUOTES:
“Recent rapid progress in advancing quantum computing hardware and breakthroughs in error correction mean that the field is reaching an inflection point. With today’s closing and our Nasdaq listing, Horizon Quantum is positioned to deliver the software infrastructure that will power this next phase of computing and help enable broad quantum advantage across tough computational problems. While there is still much work needed before quantum computers reach their full potential, with more than 20 years in quantum computing research, I have never been more excited about the prospects and future of the technology.”
Dr. Joe Fitzsimons, Founder And CEO Of Horizon Quantum
“Over the tenure of my career, I have witnessed many technology companies triumph, and I have found that the ones who are most successful in building long-term shareholder value have been those that build software infrastructure and operating systems. Horizon Quantum is compelling because the company is approaching the quantum industry with hardware-agnostic software infrastructure that stands to benefit regardless of which way the market share ultimately falls across the competing quantum modalities, including the cloud.”
Harry You, Chairman And CEO Of dMY Squared Technology Group
