Irish-founded Horizon Quantum Computing today began trading on the Nasdaq stock exchange in New York.
It follows the completion of a previously announced partnership deal with dMY Squared Technology Group, a publicly traded special purpose acquisition company.
The closing of the deal provides Horizon Quantum with gross proceeds of around $120m, before transaction expenses.
The company said it will use the funds to accelerate its investments in research and development, strengthen its hardware testbed, and further advance its integrated development environment Triple Alpha.
Horizon builds software development tools to unlock the potential of quantum computing hardware.
Quantum computing uses quantum mechanics to solve problems too complex for traditional computers.
Quantum mechanics studies the behavior of nature at the scale of atoms and subatomic particles.
Irishman Dr Joe Fitzsimons is the founder and CEO of Horizon Quantum.
"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," Dr Fitzsimons said.
"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," he added.
Harry You, Chairman and CEO of dMY, said the tech companies that 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," he said.
