Funding Rounds

Alice & Bob Secures $104M Series B Funding to Advance Quantum Computing

  • Alice & Bob secured $104 million in Series B funding, led by Qatar Investment Authority (QIA) and Bpifrance, to advance its cat qubit technology and accelerate the development of fault-tolerant quantum computing.
  • Cat qubits reduce hardware complexity, requiring only thousands of qubits instead of millions, making large-scale quantum computing more feasible and scalable.
  • Gulf investors, particularly Qatar, are increasing investments in quantum computing and other advanced technologies, aligning with economic diversification strategies and supporting next-generation innovations.

Paris, France – January 2025 – Quantum computing company Alice & Bob has successfully raised $104 million in a Series B funding round led by a joint investment venture between the Qatar Investment Authority (QIA) and Bpifrance. This significant investment will accelerate the development of the company’s quantum computing platform, leveraging its proprietary “cat qubit” technology to advance fault-tolerant quantum computing.

Pioneering Quantum Computing with Cat Qubits

Quantum computing, a field poised to revolutionize industries, has faced major engineering challenges due to the complexity of quantum systems. Alice & Bob’s cat qubit technology, inspired by Schrödinger’s Cat thought experiment, aims to reduce errors and simplify hardware complexity, offering a promising solution.

“Alice & Bob’s approach to quantum computing presents a clear path forward in overcoming these technical hurdles,” said Elie Girard, Executive Chairman of Alice & Bob. He emphasized that the new funding round will drive critical advancements in quantum computing technology.

Reducing Hardware Complexity for Scalable Quantum Computing

Traditional quantum computing approaches require millions of qubits to achieve fault tolerance. However, Alice & Bob’s cat qubits reduce the need for such a vast number of qubits, significantly simplifying the scaling process.

“Cat qubits make quantum computing more practical,” explained Théau Peronnin, CEO of Alice & Bob. “While conventional methods demand millions of qubits, our technology requires only thousands, drastically reducing the complexity of quantum hardware.”

Strategic Investment from Future French Champions

The investment from Future French Champions (FCC)—a partnership between QIA and Bpifrance—demonstrates the growing role of Gulf investors in supporting deep tech innovations.

Antoine Emmanuelli, President of Future French Champions, stated, “Alice & Bob is a leader in French quantum computing. We are eager to support their journey towards fault-tolerant quantum computing, a field that is evolving rapidly and demands cutting-edge innovation.”

The funding will enable Alice & Bob to expand its team and invest nearly half of the funds into building a new lab and production facility.

Gulf Investment in Deep Tech & Quantum Computing

The Middle East is increasingly investing in quantum computing, aligning with its broader economic diversification strategies. Qatar, in particular, has been actively funding global tech ventures, including Elon Musk’s xAI, to strengthen its expertise in artificial intelligence, quantum computing, and renewable energy.

François Robinet, Managing Partner at AXA Venture Partners, highlighted that quantum computing is shifting from pure research to industrial applications, positioning Alice & Bob at the forefront of this transition.

“Quantum computing is moving beyond the R&D stage and entering real-world applications. Alice & Bob’s innovative approach is paving the way for industrial-scale quantum solutions,” he said.

The Future of Quantum Computing in the Gulf Region

With Gulf nations increasing their investment in advanced technologies, quantum computing is expected to play a critical role in tackling region-specific challenges such as energy optimization and water resource management.

As Alice & Bob accelerates its quantum computing breakthroughs, the Gulf’s commitment to cutting-edge innovation underscores the region’s ambition to lead the next wave of technological transformation.

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