News
Pasqal raises €25 M in series A Funding to Speedup Commercialization of Quantum Processors
June 2021 by Marc Jacob
Pasqal announced it has raised €25 M in Series A funding. The round was led by Quantonation and the Defense Innovation Fund, managed by Bpifrance on behalf of the Defense Innovation Agency (AID), with Runa Capital, Daphni and Eni Next participating and includes previously announced commitment by the European Innovation Council (EIC) Fund. The funding will be used to advance the development of Pasqal’s analog and digital quantum processors, strengthen its applications co-design approach, build its Quantum Computing as a Service hybrid cloud offer as well as initiate international expansion.
Building on the long-time excellence of the French academic research in the field of cold atoms physics, Pasqal is already strong of 25 quantum engineers and technicians at the forefront of the emerging quantum industry. In Pasqal’s processors, neutral atoms are manipulated with laser light with exquisite precision to realize quantum processors on-demand with high connectivity and at unprecedented scale, above 100 qubits and towards the 1000 qubits threshold. Pasqal has been developing the full computing stack from atomic qubits to software tools for efficient operation and incorporation into major 3rd party programming environment. One quantum computer is already in operation and 2 more are in construction. Pasqal has established partnerships for application co-design with High Performance Computing communities in Italy (CINECA) and France (GENCI), as well as with partner startups and end-users such as utility EDF and financial institutions
Florence Parly, French Minister of the Armed Forces, said : "The Ministry of the Armed Forces is pleased to support the development of Pasqal through the first investment of the new Defense Innovation Fund. This fund supports the growth of French technological champions with dual applications (civilian and military). With one of the world’s most renowned research teams, Pasqal will be among the leaders in Quantum Computing in the future. The applications of their technology in defense are multiple and some highly strategic.”
