Alice and Bob Secure €100 Million for Quantum Computing

Alice and Bob Secure €100 Million for Quantum Computing
Alice and Bob Secure €100 Million for Quantum Computing

Alice & Bob, a Paris-based quantum computing startup, has secured €100 million in its Series B funding round to accelerate the development of what promises to be the first truly useful quantum computer by 2030.

The investment round was led by Future French Champions (FFC), AVP (AXA Venture Partners), and Bpifrance, with participation from Series A investors, including Elaia Partners, Breega, Supernova Invest, and Bpifrance. Additionally, new institutional investors, such as the European Innovation Council (EIC), also joined the round.

This latest funding brings Alice & Bob’s total investment to €130 million and represents a major milestone in the company’s journey to build a fault-tolerant quantum computer capable of performing complex computations without the errors that currently hinder the advancement of this technology.

Alice & Bob’s groundbreaking innovation lies in the use of “cat qubits,” a technology that significantly reduces the hardware requirements for large-scale quantum computing. While conventional approaches require millions of qubits for a functional system, Alice & Bob’s technology can cut that need by up to 200 times, making quantum computing more feasible and accessible.

According to the company’s CEO, Théau Peronnin, Alice & Bob has already set performance records with its cat qubits and is now focused on building a quantum computer that delivers real-world value. One of the key advantages of this technology is its ability to suppress bit-flip errors, one of the biggest challenges faced by quantum computers. This natural resistance to errors enables more efficient architectures for fault-tolerant quantum systems, making real-world applications of quantum computing possible.

With this new investment, Alice & Bob plans to accelerate system development, enhance error correction, and build its first error-corrected logical qubit. Nearly half of the funds will go toward constructing a state-of-the-art lab and production facility, while the remainder will be used to expand the team, which has doubled in size over the past year.

Antoine Emmanuelli, President of Future French Champions, emphasized Alice & Bob’s importance in the quantum computing landscape and the impact of its innovation in positioning France as a global leader in this emerging technology. Elie Girard, Executive Chairman of Alice & Bob, highlighted the potential of quantum computing to transform industries but acknowledged that engineering challenges have long been a major obstacle. He stated that Alice & Bob’s cat qubit technology provides a viable path to overcoming these challenges by combining efficiency and reliability.

For years, quantum computing was confined to experimental projects by major tech companies. However, it is now moving closer to industrial applications. François Robinet, Managing Partner at AVP, noted that the sector is transitioning from pure research to a more mature phase where practical applications are becoming a reality. He also pointed out that Alice & Bob’s technology has the potential to significantly reduce the hardware requirements for large-scale quantum computers, which is essential for commercial adoption.

With over 110 employees and research that has already demonstrated experimental results surpassing those of tech giants like Google and IBM, Alice & Bob is emerging as a key player in the advancement of quantum computing. As the company continues to innovate and expand its operations, the next decade could mark a major breakthrough in processing capabilities, impacting industries such as pharmaceuticals, finance, and artificial intelligence, and forever changing the future of computing.