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The French startup Alice & Bob, specializing in quantum computing, has announced the closing of a Series B funding round of 100 million euros, led by Future French Champions (FFC), AVP (AXA Venture Partners), and Bpifrance. This investment will allow the company to accelerate the development of its “cat” qubits technology, with the goal of building the first useful quantum computer by 2030.
A Disruptive Advance in Quantum Computing
Since its founding in 2020, Alice & Bob has been working on developing fault-tolerant quantum computing, based on the use of “cat” qubits, a technology that minimizes bit-flip errors, one of the main challenges in quantum computing.
According to Théau Peronnin, CEO of Alice & Bob, the key advantage of their approach is that it allows scaling quantum computers more efficiently:
“While conventional approaches would require millions of qubits, our technology only needs thousands to achieve useful quantum computing.”
This advancement could significantly reduce the costs and complexity of quantum computers, enabling practical applications in industries such as energy, healthcare, and advanced manufacturing.
The Backing of Strategic Investors
The new funding round saw participation from key Series A investors, including Elaia Partners, Breega, Supernova Invest, and Bpifrance, who have renewed their confidence in the company. Additionally, new institutional investors such as FFC, AVP, and the European Innovation Council (EIC) have joined the round.
From FFC, its president Antoine Emmanuelli emphasized Alice & Bob’s role in establishing France as a leader in quantum technology:
“We recognize Alice & Bob as a benchmark in quantum computing and are excited to see how they progress toward fault tolerance in this highly competitive field.”
Meanwhile, François Robinet, managing partner at AVP, highlighted that quantum computing is entering an industrial phase, moving beyond its purely experimental stage:
“The technology that Alice & Bob is developing is key to reducing the hardware requirements needed to build a practical large-scale quantum computer.”
Strategic Investments: Laboratory, Expansion, and Error Correction
The funding raised will be allocated to:
✔ Optimizing qubit performance and improving error correction.
✔ Building the first logical qubit with error correction.
✔ Expanding the team, which has doubled in size over the past year.
✔ Completing the construction of a state-of-the-art laboratory and production facility, which will receive nearly half of the funds.
According to Elie Girard, chairman of Alice & Bob, the great challenge of quantum computing has always been its engineering complexity.
“Our ‘cat’ qubit technology offers a clear path to an efficient and reliable quantum computer. This funding will allow us to continue our expansion and leadership in the industry.”
A Growing Ecosystem with High Expectations
Since its launch, Alice & Bob has raised 130 million euros, hired over 110 employees, and achieved experimental advances that have even surpassed the results of tech giants like Google and IBM.
The company offers access to its technology through the cloud, allowing researchers and businesses to test its qubits. Additionally, its focus on energy efficiency and hardware reduction has attracted interest from investors with a strong ESG (environmental, social, and governance) orientation.
Quantum computing continues to position itself as one of the most disruptive sectors of the next decade, with Alice & Bob emerging as a key player in the global race toward useful and fault-tolerant quantum computing.