PASQAL has announced raising $100 million in a Series B funding round led by its investor Temasek. Well-known investors such as Quantonation (FR), the Defense Innovation Fund (FR), Daphni (FR) and Eni Next (IT) participated in the funding round. In addition, the European Innovation Council (EIC) Fund of the European Commission took the chance to become a new investor.
“We are very proud of this new milestone in PASQAL’s development that will make the company a world leader […] Quantonation has supported the company since its spin-off from Institut d’Optique. It is the first scale-up within Quantonation’s portfolio, and it truly illustrates the excellence of French research and the competitiveness of the French quantum ecosystem.” Christophe Jurczak, Managing Partner at Quantonation – PASQAL press release 24/01/2023
This funding reinforces PASQAL’s position as a worldwide leader in neutral-atom quantum computing. The company will dedicate the funding towards its efforts to build a 1,000-qubit quantum computer in the short term, and fault-tolerant architectures in the long term. In addition, in the funding will be used to allow PASQAL to expand its activity outside Europe, for example by opening offices in the Middle East and Asia.
“We are on a clear path to deliver a quantum computer capable of unlocking commercial advantage for our customers, and this latest investment round will help us reach this goal by 2024. […] This funding round validates that neutral atom technology is a premier platform for delivering real-world quantum applications, and we are proud to see its potential recognized by top investors.” Georges-Olivier Reymond, CEO and founder of PASQAL – PASQAL press release 24/01/2023
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