The French start-up has announced that its latest round of funding raised 25 million euros in a Series A round led by Quantonation and the Defense Innovation Fund. The aim is to fund further development towards commercialisation of their technology and quest for ever more qubits under control, in addition to building out Quantum Computing as a service. The technology behind the qubits differs from those of IBM, Google, and Xanadu, and the hope is that this can mean a faster route to scaling thousands of high fidelity qubits.
Based around cold atom physics the company has around 25 employees pushing the boundaries of what can be done with cold atoms – manipulated by light. The technology can allow high degrees of connectivity and can scale towards the 1,000 qubit level. Already one machine is operating and there are a further two more in the works. Of course with qubits the more the merrier, provided that they can offer a level of connectivity.
“We are thrilled to lead this round and continue to support Pasqal in the next phase of their development. They have shown over the last two years an amazing capacity to turn a highly sophisticated technology into a product, while continuing to do ground breaking work on the applications side”
Dr. Christophe Jurczak, partner at Quantonation
Building out the Quantum Stack
Pasqal has been building out the Quantum stack, with the aim to offer an integrated service and has partnerships with CINECA in Italy and GENCI in France as well as EDF, the power company and financial institutions. As Quantum computers find more use cases there will be growing interest in the nascent technology and this news comes got on the heels of a partnership between Cambridge Quantum Computing and Honeywell to co-develop technologies around Ion Traps and CQC’s expertise in Quantum Machine Learning.
“We are very excited to have amazing investors backing us up in our journey to materialize commercial quantum computing advantage in real life applications. This is a wonderful recognition for our highly talented team.”
Georges-Olivier Reymond, CEO of Pasqal
Read more about the funding from Pasqal.