Alice & Bob, a Paris-based quantum computing startup, has secured €100M in Series B funding to accelerate its ambitions of creating a fault-tolerant quantum computer by 2030. The firm, known for its innovative cat qubit technology, aims to tackle the long-standing challenges of quantum computing by reducing hardware complexity and enhancing error correction capabilities. This funding round highlights growing confidence in Alice & Bob’s unique approach, as it continues to emerge as a key player in the competitive quantum technology sector.
How does Alice & Bob plan to use the funds?
Alice & Bob plans to allocate nearly half of the funding towards establishing a new laboratory and production facility, which will bolster its manufacturing and research capabilities. The remaining resources will be directed at team expansion and developing the company’s first error-corrected logical qubit. CEO Théau Peronnin emphasized the importance of this next stage, stating,
“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.”
What distinguishes Alice & Bob’s cat qubits from others?
Alice & Bob specializes in cat qubits, a technology exclusive to the company since its inception in 2020. Cat qubits are designed to suppress bit-flip errors, significantly reducing the hardware requirements for scaling quantum computers. This efficiency has led to the technology being tested through cloud access and even adopted by industry giants like Amazon (NASDAQ:AMZN). According to Peronnin,
“Cat qubits are unique, as they make scaling quantum computers practical: where conventional approaches would require millions of qubits, we would need only thousands.”
This innovation positions Alice & Bob as a frontrunner in creating fault-tolerant quantum architectures.
When compared to earlier reports, Alice & Bob’s trajectory reveals a steady expansion in both funding and scope. In previous funding rounds, the company raised smaller amounts and primarily focused on foundational research. Now, with total funding reaching €130M and a workforce exceeding 110 employees, Alice & Bob is transitioning from research to industrial-scale development. The company’s recent experimental results have even outpaced those of prominent players like Google (NASDAQ:GOOGL) and IBM, underscoring its growing influence in the field.
Leading the Series B round were Future French Champions (FFC), AVP, and Bpifrance, joined by previous investors such as Elaia Partners and Breega, along with newcomers like the European Innovation Council (EIC). Investor representatives highlighted Alice & Bob’s potential, with Antoine Emmanuelli from FFC remarking,
“Future French Champions recognises 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.”
François Robinet from AVP added,
“We are now convinced that quantum computing is entering an ‘industrial’ phase to soon address ‘real-life’ use cases, thanks to the technology that Alice & Bob has been developing.”
Alice & Bob’s focus on fault tolerance and scalability aligns with the broader industry’s shift toward practical applications of quantum computing. By mitigating traditional challenges such as error rates and resource demands, the company aims to develop systems that can eventually be deployed across industries like healthcare, finance, and logistics. However, the competition remains intense, with global firms vying to achieve similar results, emphasizing the need for Alice & Bob to sustain its technological edge and scale efficiently.
Quantum computing stands at a critical juncture, with companies like Alice & Bob leading the charge toward making the technology viable for real-world applications. While still years away from full-scale adoption, the firm’s €100M funding milestone indicates both the potential and challenges of this field. Cat qubits, in particular, have shown promise in addressing scalability concerns, but significant engineering hurdles remain. For readers interested in the quantum sector, Alice & Bob’s progress provides a snapshot of how innovation and investment can shape technological advancements in a rapidly evolving industry.
