Alice & Bob, a Paris-based startup focused on fault-tolerant quantum computing, announced a raise of €100 million in its Series B funding round to accelerate the building of the “world’s first” useful quantum computer by 2030.
The funding round was led by Future French Champions (FFC), AVP (AXA Venture Partners) and Bpifrance. FFC is a partnership between QIA and Bpifrance.
All Series A investors, Elaia Partners, Breega, Supernova Invest and Bpifrance, returned for the Series B round, joined by new institutional investors, the EIC (European Innovation Council).
“Having established performance records with our cat qubits, Alice & Bob now enters a new phase focused on building a quantum computer that can deliver valuable results,” said Théau Peronnin, CEO of Alice & Bob. “Cat qubits are unique, as they make scaling quantum computers practical: where conventional approaches would require millions of qubits, we would need only thousands.”
Founded in 2020 by Raphaël Lescanne and Théau Péronnin, Alice & Bob is a quantum computing company whose goal is to create the first universal, fault-tolerant quantum computer. Alice & Bob has already raised €130 million in funding, hired over 110 employees and claims to have demonstrated experimental results surpassing those of technology giants such as Google or IBM.
Alice & Bob specialises in cat qubits, a pioneering technology developed by the company’s founders and later adopted by Amazon. Demonstrating the power of its cat architecture, Alice & Bob recently showed that it could reduce the hardware requirements for building a useful large-scale quantum computer by up to 200 times compared with competing approaches.
At the center of cat qubits’ hardware-efficiency is the inherent suppression of bit-flip errors, one of the two types of errors that plague quantum computers. This property is key to enabling more efficient architectures for Fault-Tolerant Quantum Computers (FTQCs) that resist errors and can be used in real-world applications.
Elie Girard, Executive Chairman of Alice & Bob, added, “Quantum computing is poised to transform industries, but the engineering complexity has remained a major hurdle. Alice & Bob’s cat qubit innovation offers a clear path forward, combining efficiency and reliability to unlock quantum’s full potential. This funding allows for Alice & Bob to continue to grow as a company and leading player in the industry.”
Alice & Bob will use the funding to enhance the performance of its system, improve error correction, and create its first error-corrected logical qubit. Nearly half of the funds will be used to finance the ongoing construction of a ‘state-of-the-art’ lab and production facility, and additional funds will be used to further expand the team, which has doubled in the past year.
Antoine Emmanuelli, President of FFC added: “In investing in Alice & Bob, Future French Champions recognizes the company as a French leader in quantum computing. We are eager to see Alice & Bob achieve fault-tolerant quantum computing in this highly competitive, evolving field using unique and innovative technology to make France a champion in quantum tech.”
François Robinet, Managing Partner at AVP concluded: “We have been following the field of quantum computing for a long time at AVP and we are now convinced that quantum computing is leaving the pure R&D space and is entering into an ’industrial’ phase to soon address ’real-life’ use cases, thanks to the technology that Alice & Bob has been developing. AVP is therefore proud to support the company in their mission to reduce the hardware requirements for building a practical, large-scale quantum computer.”
Read the orginal article: https://www.eu-startups.com/2025/01/alice-bob-close-e100-million-round-to-fund-worlds-first-quantum-computer-by-2030/
