Palaiseau-based atomic-level quantum processor builder Pasqal raises €25 million in Series A round

Just south of Paris, Palaiseau-based quantum processor maker Pasqal has raised €25 million in Series A round in a round led by go-to quantum computing fund Quantonation and the Defense Innovation Fund, managed by Bpifrance on behalf of the Defense Innovation Agency (AID). The round also saw participation from Runa Capital, Daphni and Eni Next, as well as the European Innovation Council (EIC) Fund. The startup has slated the fund to be utilised to further develop their analog and digital quantum processors, beef up its applications co-design approach, develop a QCaaS (Quantum Computing as a Service) hybrid cloud offer, and begin international expansion.

Founded in 2019 by Christophe Jurczak, Georges-Olivier Reymond, Prof. Alain Aspect, Dr. Antoine Browaeys, and Dr. Thierry Lahaye, Pascal is a spin-off from Institut d’Optique and builds on research in the field of cold atoms physics. The startup builds quantum processors from neutral atoms ordered in 2D and 3D arrays. Atoms are manipulated with laser light with unprecedented precision, and are capable of achieving above 100 qubits and are now pushing 1000 qubits levels.

Let me state that again: Pascal is building processors at the atomic level.

One quantum computer is already in operation, with 2 more already in construction. The company has partnerships for application co-design with computing communities in Italy (CINECA) and France (GENCI), as well as EDF and undisclosed financial institutions.

“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 groundbreaking work on the applications side,” concludes Dr. Christophe Jurczak, partner at Quantonation.