French quantum computing startup Alice & Bob has secured €100 million in Series B funding to accelerate the development of its fault-tolerant quantum computer, which the company aims to complete by 2030.
The round was co-led by Future French Champions (FFC)—a partnership between Bpifrance and Qatar Investment Authority (QIA)—along with AXA Venture Partners (AVP) and Bpifrance. Additional funding came from returning investors Elaia Partners, Breega, Supernova Invest, and Bpifrance, as well as new backers, including the European Innovation Council (EIC).
Advancing Quantum Computing with Cat Qubits
Founded in 2020, Alice & Bob is developing a universal, fault-tolerant quantum computer using its proprietary cat qubit technology. Unlike conventional quantum approaches that require millions of qubits, Alice & Bob’s architecture could achieve the same computational power with just thousands of qubits, thanks to its ability to suppress bit-flip errors—one of the main challenges in quantum computing.
CEO Théau Peronnin explained:
“Having established performance records with our cat qubits, we are now focused on building a quantum computer that can deliver real-world results.”
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How the Funding Will Be Used
The company plans to allocate the fresh capital toward:
- Developing its first error-corrected logical qubit, a critical milestone in fault-tolerant quantum computing.
- Constructing a new lab and production facility, which will receive nearly half of the funds.
- Expanding its team beyond its current 110+ employees in Paris and Boston.
Competitive Edge in the Quantum Race
Alice & Bob’s breakthrough technology has already attracted interest from major players like Amazon, which has integrated cat qubits into its own research. The company has also demonstrated that its approach could reduce hardware requirements by up to 200 times compared to traditional quantum methods.
Investors’ Perspective
Antoine Emmanuelli, President of FFC, emphasized the strategic importance of Alice & Bob:
“With this investment, we recognize Alice & Bob as a leader in quantum computing and a key player in making France a champion in the global quantum technology race.”
François Robinet, Managing Partner at AXA Venture Partners (AVP), added:
“We’ve been tracking quantum computing for years and believe Alice & Bob is now entering an ‘industrial phase’ where quantum computing can soon address real-world applications.”
A Strong Future for Alice & Bob
With a total of €130 million raised to date, Alice & Bob is well-positioned to challenge established quantum leaders such as Google and IBM. By pioneering a scalable, fault-tolerant quantum computing system, the company aims to transform industries including finance, pharmaceuticals, and cybersecurity, unlocking the full potential of quantum technology.
