PASQAL raises €100M in Series B, neutral atom quantum tech for real-world applications gaining traction.
Paris-based quantum computing startup PASQAL has recently raised €100 million in a Series B funding round, led by a new investor, Singapore-based Temasek. This brings PASQAL’s total funding to date to more than €140 million. Founded in 2019 as a spin-off from Institut d’Optique, PASQAL develops quantum processors based on ordered neutral atoms in 2D and 3D arrays. The company’s technology is based on research conducted by Alain Aspect, its co-founder and the winner of the 2022 Nobel Prize in Physics.
The company plans to accelerate the research and development efforts to build a 1,000-qubit quantum computer in the short term and fault-tolerant architectures in the long term. It also plans to increase the production of its quantum systems for on-premise installations as well as expand the development of proprietary algorithms for its customers across key verticals.
The interest in finding out where and how quantum computing can make a difference is growing and so is the investment in this emerging technology by enterprises worldwide. Surveys have found increased experimentation with quantum computing by companies in a wide range of industries, testing a variety of applications. PASQAL’s work with its customers illustrates this rising enterprise movement.
The potential of quantum computing to decode real-world challenges is tremendous and the search is on for a practical, working quantum computer that can better decode real-world challenges than classical computers. PASQAL’s recent funding round validates that neutral atom technology is a premier platform for delivering real-world quantum applications. The company hopes to deliver major commercial advantages over classical computers by 2024.
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