Alice & Bob secures €100m Series B funding

To revolutionise quantum computing

Alice & Bob, a pioneering company in the race for fault-tolerant quantum computing, has raised €100 million in its Series B funding round. The investment, led by Future French Champions (FFC), AXA Venture Partners (AVP), and Bpifrance, will accelerate the company’s efforts to build the world’s first practical and scalable quantum computer by 2030.

The funding will enable Alice and Bob to enhance their breakthrough cat qubit technology, which promises to drastically reduce the cost and complexity of creating a functional quantum computer. This innovation has already demonstrated the potential to simplify quantum computing architectures, reducing the qubits for scalable machines from millions to thousands.

Théau Peronnin, CEO of Alice & Bob, said: “Having set performance records with our cat qubits, we are now entering a new phase focused on developing a quantum computer capable of delivering tangible results. Cat qubits are revolutionary because they make quantum computer scaling practical, marking a critical step toward real-world applications.”

Alice and Bob’s cat qubits’ core advantage is their ability to suppress bit-flip errors, one of the key challenges hindering traditional quantum computers. This property is essential for building Fault-Tolerant Quantum Computers (FTQCs) that are reliable enough for energy, pharmaceuticals, and materials science industries. Alice and Bob’s approach is unique, as the company is the only player exclusively focused on developing quantum computers using cat qubits.

The funding will also enable Alice and Bob to continue expanding. Nearly half of the raised capital will go towards constructing a state-of-the-art laboratory and production facility. At the same time, the rest will enhance the performance of their quantum systems and advance the development of error-corrected logical qubits. The company’s team has doubled in size over the past year, and further recruitment will help meet the growing demands of this cutting-edge field.

Elie Girard, Executive Chair of Alice & Bob, highlighted the transformative potential of quantum computing, noting: “Quantum computing is set to revolutionise industries, but its engineering challenges have been a major barrier. Alice & Bob’s innovation with cat qubits presents a clear path forward by combining efficiency and reliability, unlocking quantum computing’s true potential.”

The Series B round saw the return of previous investors Elaia Partners, Breega, Supernova Invest, and Bpifrance, alongside the new participation of FFC, AVP, and the European Innovation Council (EIC). The diverse group of investors reflects the widespread confidence in Alice & Bob’s groundbreaking approach and its ability to lead the quantum computing industry.

Key investors from across the globe expressed their support for Alice & Bob’s vision. Antoine Emmanuelli, President of FFC, praised the company’s role as a leader in quantum computing. At the same time, François Robinet of AVP described the company’s progress as a pivotal step toward the industrialisation of quantum technology. Bpifrance’s François Charbonnier echoed these sentiments, emphasising France’s potential to become a global quantum leader.

With the successful completion of this funding round, Alice and Bob are well-positioned to continue pushing the boundaries of quantum computing and developing practical, large-scale quantum systems that will impact industries worldwide.

Founded in 2020, Alice & Bob is a Paris and Boston-based quantum computing company on a mission to build the world’s first universal, fault-tolerant quantum computer. The company has raised €130 million to date, with a focus on cat qubits—an innovative quantum technology developed by the company’s founders and now adopted by major tech players like Amazon. Alice & Bob’s technology promises to reduce the hardware requirements for practical quantum computing by up to 200 times compared to competing approaches.

Image: Alice & Bob’s technology promises to reduce the hardware requirements for practical quantum computing by up to 200 times compared to competing approaches. Credit: Alice & Bob

Last Updated on 2 days by News Desk 2