Paris, Jan. 28, 2025 — Quantum computing company Alice & Bob announced a raise of €100 million in its Series B funding round, led by Future French Champions (FFC), AVP (AXA Venture Partners) and Bpifrance. FFC is a partnership between QIA and Bpifrance.
The funding will accelerate Alice & Bob’s goal of building the world’s first useful quantum computer by 2030.
“Having established performance records with our cat qubits, Alice & Bob now enters a new phase focused on building a quantum computer that can deliver valuable results,” said Théau Peronnin, CEO of Alice & Bob. “Cat qubits are unique, as they make scaling quantum computers practical: where conventional approaches would require millions of qubits, we would need only thousands.”
At the center of cat qubits’ hardware-efficiency is the inherent suppression of bit-flip errors, one of the two types of errors that plague quantum computers. This property is key to enabling more efficient architectures for Fault-Tolerant Quantum Computers (FTQCs) that resist errors and can be used in real-world applications. Alice & Bob is the only player developing quantum computers exclusively with this type of qubit, which the company has pioneered since its inception in 2020. To learn more about Alice & Bob’s technology, see its recently published white paper and roadmap.
All Series A investors, Elaia Partners, Breega, Supernova Invest and Bpifrance, returned for the Series B round, joined by new institutional investors, FFC, AVP, and the EIC (European Innovation Council), reflecting broad market confidence in Alice & Bob’s approach and future impact.
Alice & Bob will use the funding to enhance the performance of its system, improve error correction, and create its first error-corrected logical qubit. Nearly half of the funds will be used to finance the ongoing construction of a state-of-the-art lab and production facility, and additional funds will be used to further expand the team, which has doubled in the past year.
Elie Girard, Executive Chairman of Alice & Bob, added, “Quantum computing is poised to transform industries, but the engineering complexity has remained a major hurdle. Alice & Bob’s cat qubit innovation offers a clear path forward, combining efficiency and reliability to unlock quantum’s full potential. This funding allows for Alice & Bob to continue to grow as a company and leading player in the industry.”
Alice & Bob has already raised €130 million in funding, hired over 110 employees and demonstrated experimental results surpassing those of technology giants such as Google or IBM. Alice & Bob specializes in cat qubits, a pioneering technology developed by the company’s founders and later adopted by Amazon. Demonstrating the power of its cat architecture, Alice & Bob recently showed that it could reduce the hardware requirements for building a useful large-scale quantum computer by up to 200 times compared with competing approaches.
