$100m for Alice & Bob cat qubits
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French quantum technology developer Alice & Bob has raised €100m to build a fault tolerant quantum computer.
The Series B funding round, led by Future French Champions (FFC), AVP (AXA Venture Partners) and Bpifrance. FFC is a partnership between QIA and Bpifrance.
The funding will accelerate Alice & Bob’s path to build the world’s first useful quantum computer by 2030. This will be used to enhance the performance of its quantum cat technology, improve error correction, and create its first error-corrected logical qubit. The company has already produced a 16 qubit device with its quantum cat technology with increased stability and is working with Riverlane in the UK on error correction algorithms.
Alice & Bob tape out 16 qubit quantum processor
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.
The Paris-based company is named after the shorthand for quantum systems that communicate between A and B, or Alice and Bob.
“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.”
The key to the hardware-efficiency of the cat qubit 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 computers.
All the Series A investors, Elaia Partners, Breega, Supernova Invest and Bpifrance, returned for the Series B round, joined by new institutional investors, FFC, AVP, and the EIC (European Innovation Council).
“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,” said François Robinet, Managing Partner at AVP.
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