Subscribe to our newsletter and stay informed

Check out our list of top companies

Check out our carefully compiled lists of the most relevant and impactful companies within their fields.

Check out our list of top unicorns

Read and learn about the biggest companies that various countries have produced, how they made it, and what the future looks like for them.

Alice & Bob Receive €16.5M Funding for Quantum Computing Advancement

Alice & Bob receive €16.5M from France 2030 to lead quantum computing innovation, aiming for cost-effective, market-ready solutions in just 36 months
March 27, 2024

Alice & Bob, the Parisian startup making waves in quantum computing, has been awarded a substantial €16.5 million funding from the France 2030 initiative, led by Bpifrance. This endorsement from Prime Minister Gabriel Attal's office underscores the nation's commitment to cutting-edge technology. In collaboration with academic giants ENS de Lyon and Mines Paris – PSL, Alice & Bob is at the helm of a groundbreaking 36-month project aimed at making quantum computing more efficient, cost-effective, and commercially viable.

CEO Theau Peronnin and his team are pioneering the use of cat qubits to navigate the complexities of quantum computing, focusing on reducing energy usage and lowering costs for end-users. This project, dubbed "Cat Factory," seeks to simplify quantum computation by addressing every facet from design and manufacturing to infrastructure, potentially making quantum computers ten times cheaper to produce and accelerating their market introduction by three years.

The partnership goes beyond Alice & Bob, encompassing a broad coalition aimed at addressing quantum computing's major hurdles. With the project's ambition to drastically reduce hardware requirements through innovations like the cat qubit, the team is set to revolutionize the field by aiming for 100 logical qubits with minimal cryostat use. This collaboration represents not only a significant technological leap but also a testament to France's proactive stance on fostering innovation in quantum computing.

Since its founding in 2020, Alice & Bob has made significant strides, securing over €30 million in funding, growing its team to over 95 professionals, and achieving results that stand toe-to-toe with tech behemoths like Google and IBM. The company's focus on cat qubits, which has attracted attention from industry leaders including Amazon, underscores its position as a pioneer in the quest for a universal, fault-tolerant quantum computer.

Alice & Bob's venture into the quantum computing arena, backed by robust government and academic partnerships, not only highlights the potential of quantum technology but also cements France's reputation as a frontrunner in the global tech innovation race. As the project advances, it promises to open up new frontiers in computing, marking a significant milestone in the journey towards harnessing the vast potential of the quantum world.

Last related articles

chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram