Pasqal, a Paris, France-based neutral atoms quantum computing company, raised €100M in Series B funding.
The round was led by Temasek, with participation from the European Innovation Council (EIC) Fund, Wa’ed Ventures, Bpifrance, Large Venture Fund, Quantonation, the Defense Innovation Fund, Daphni and Eni Next.
Founded in 2019, out of the Institut d’Optique, by Georges-Olivier Reymond, Christophe Jurczak, Professor Dr. Alain Aspect, Nobel Prize Laureate Physics, 2022, Dr. Antoine Browaeys, and Dr. Thierry Lahaye, Pasqal builds quantum computers from ordered neutral atoms in 2D and 3D arrays to bring a practical quantum advantage to its customers and address real-world problems. The company is currently engaged with many Global Fortune 500 companies, including Crédit Agricole CIB, BASF, Aramco, Eni, and BMW. Other customers include Siemens, Airbus, LG Electronics, Johnson & Johnson and Thales, among many others.
Pascal, which has secured more than €140M in financing to date, intends to use the funds to:
- accelerate its research and development efforts to build a 1,000-qubit quantum computer in the short term and fault-tolerant architectures in the long term,
- increase the production of its quantum systems for on-premise installations,
- expand the development of proprietary algorithms for customers across key verticals including energy, chemistry, automotive, mobility, healthcare, enterprise technology, finance and government,
- expand its global footprint, opening offices in the Middle East and Asia this year in addition to growing its existing operations in Europe and North America.
The technology was built upon research of company co-founder Alain Aspect.
Pasqal plans to double its current team of 100 employees this year.
FinSMEs
25/01/2023