Alice & Bob, a quantum computing startup based in Paris and Boston, has secured €100 million ($104.3 million) in a Series B funding round led by the Qatar Investment Authority (QIA) and Bpifrance. The capital will support the company’s goal to develop the world’s first practical quantum computer by 2030.
Approximately half of the funds are allocated for constructing a new laboratory and production facility, with the remainder designated for expanding the company’s workforce. Alice & Bob, known for its “cat qubit” technology, has already recruited over 110 employees and raised a total of €130 million to date.
The “cat qubit” approach aims to reduce errors in quantum computing by leveraging a design that inherently protects against certain types of computational faults. This technology has garnered attention for its potential to simplify the development of fault-tolerant quantum computers.
The latest funding round also saw participation from existing investors, such as Elaia Partners, Breega, and Supernova Invest, as well as new institutional backers, including Axa Venture Partners and the European Innovation Council.
The investment reflects a broader interest in quantum computing advancements, with sovereign wealth funds and public investment banks recognising the transformative potential of this technology across various industries.
