Horizon Quantum secures oversubscribed funding ahead of dMY merger

Horizon Quantum Computing has secured more than double its original $50 million PIPE financing target as it prepares to complete its business combination with dMY Squared Technology Group (OTC: DMYY).

The quantum software company announced lead investors include IonQ, a Fortune 50 technology company, and several institutional investors. The additional funding will support research and development investments, strengthen Horizon's hardware testbed, and advance its Triple Alpha integrated development environment.

Horizon announced four appointments to its board of directors: Danielle Lambert, former Apple vice president of human resources; Peter Oey, chief financial officer of Grab; Jill Turner, chief human resources officer of Broadcom; and Harry You, chairman of dMY and Broadcom board member.

The Singapore-based company completed assembly of a quantum computer at its headquarters, becoming what it claims is the first quantum software company to own and operate such a system. Horizon also announced a collaboration with Alice & Bob to integrate cat qubit emulators with Triple Alpha and launched Beryllium, a hardware-agnostic programming language.

"Horizon has made great progress in recent months in strengthening our operations and governance and further advancing our mission to build software infrastructure for the quantum industry," said founder and CEO Joe Fitzsimons.

dMY stockholders will vote on the business combination proposals at a special meeting scheduled for March 17, 2026. The transaction is expected to close during the first quarter of 2026, subject to stockholder approval and other closing conditions.

The information is based on a company press release.

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