Temasek leads €100m seed round in atomic-level quantum processor maker Pasqal

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Royebisin22#
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Temasek leads €100m seed round in atomic-level quantum processor maker Pasqal

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Paris-based approach to neutral atoms Quantum computing startup Pasqal has actually raised €100 million in a Series B funding round. The quantum processor maker will use the brand new capital to develop further its research and development efforts to develop short-term 1,000-qubit quantum computer and long-term fault-tolerant architectures. Since 2019, the startup has raised more than 125 million euros. In addition to Temasek's advance, Pasqal's €100m Series B funding round saw participation from the European Innovation Council (EIC) Fund, Wa'ed Ventures and, naturally. Bpifrance, through its Big Venture fund. Existing financiers that have actually continued to help are.

Quantonation, the Defense Innovation Fund, Daphni and Eni Next. Based on the Nobel Prize-winning research of co-founder Alain Aspect, we first covered Pasqal all the way through their €25m Series A announced in June 2021. At the time, the company was using the €25 million to further establish its analog and digital quantum processors, strengthen Pakistan Phone Number List its application co-design technique, develop a QCaaS (Quantum Computing as a Service), and begin global growth. Fast forward about 18 months, and it looks like Pasqal is now making the huge leap in time, quadrupling the size of this Series A investment and ramping up production of its quantum systems for on-premises setups as well as l expanding proprietary algorithm development for clients in key verticals including energy, chemicals, automotive, motion, healthcare, business innovation, finance and government.

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We are on track to deliver an efficient quantum computing system by unlocking an industrial advantage for our customers, and this new round of financial investment will help us achieve that goal. goal by 2024,” said Pasqal CEO and co-founder Georges-Olivier Reymond. “This funding round confirms that neutral atom innovation is a leading platform for delivering real-world quantum applications, and we are pleased to see its prospect identified by top financiers. » As for those customers Reymond mentioned, the lineup reads of a Fortune 500 who's who. The company recently published research with the world's largest cooperative banks, Credit Agricole CIB, demonstrating that Pasqal's technology could solve complex financial optimization problems as accurately as classical computers Huge chemistry.
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