The leading players in the French quantum computing ecosystem continue to gain momentum. A prime example is Alice & Bob, a startup developing a universal and error-free quantum computer, which has announced a €100M Series B funding round led by Future French Champions (FFC), AVP (Axa Venture Partners), and Bpifrance.
As part of this operation, all Series A investors (€27M in March 2022), including Elaia Partners, Breega, Supernova Invest, and Bpifrance, have reinvested. Public investors have also contributed, including the European Innovation Council (EIC) and the Île-de-France region. “Alice & Bob’s work to reduce the hardware requirements of quantum calculations enables large-scale quantum computing and paves the way for crucial applications, such as molecule discovery and cryptography,” said Anne-Sophie Carrese, Partner at Elaia.
A step closer to a universal and error-free Quantum Computer
Founded in 2020 by Théau Peronnin and Raphaël Lescanne, the company is betting on the Schrödinger cat qubit to develop the first universal and fault-tolerant quantum computer. “Cat qubits are unique because they enable scalable quantum computing. While conventional approaches would require millions of qubits, we would only need a few thousand,” explains Théau Peronnin, co-founder and CEO of Alice & Bob. He adds: “After setting performance records with our cat qubits, Alice & Bob is entering a new phase focused on building a quantum computer capable of delivering real-world results.”
The deeptech company aims to use this new funding to create its first error-free logical qubit, a decisive step toward achieving its ultimate goal. The company states that half of the €100M raised will fund the ongoing construction of a laboratory and a production facility. The remaining funds will be used to expand Alice & Bob’s workforce, which currently consists of around 100 employees.
Alice & Bob is among the most prominent companies in quantum computing. Other notable players include Pasqal, which secured a €100M Series B in January 2023 before making another major move last year by securing a contract with Aramco, the Saudi Arabian oil giant. The French startup aims to develop a quantum computer with 10,000 qubits by the end of next year. Another key player, Quandela, delivered its first quantum computer to OVHcloud in the last quarter of 2023 and expanded internationally last year, particularly in North America and Asia. These developments highlight the growing global recognition of French expertise in quantum computing.