Horizon Quantum, a Singapore-based pioneer in quantum software, has made history by becoming the first pure-play public quantum software company to trade on the Nasdaq stock exchange under the ticker “HQ”. This milestone follows the completion of its business combination with dMY Squared Technology Group, which was finalised on 19 March after receiving shareholder approval.
The transaction has brought Horizon Quantum approximately $120m in additional revenue, which the company plans to invest in research and development, enhancing its hardware testbed, and advancing its integrated development environment, Triple Alpha. The company’s PIPE investment was significantly oversubscribed at $110 million, highlighting the growing interest in quantum computing as it approaches practical application.
This listing is a significant step for Singapore’s ambitions in the global quantum race. The Singaporean Government has committed S$300m to quantum computing over five years, with the Monetary Authority of Singapore investing an additional S$100m in quantum and AI for finance. Horizon Quantum further solidified its position by launching its own hardware testbed in December 2025, becoming the first quantum software company to own and operate a quantum computer.
Dr Joe Fitzsimons, Founder and CEO of Horizon Quantum, expressed optimism about the future of quantum computing, stating, “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.”
The quantum sector is anticipated to be the next major disruptive technology, with McKinsey estimating the market could reach $100b within the decade. As Horizon Quantum begins its journey on Nasdaq, it sets a precedent for future developments in the quantum computing industry.
