Pasqal, a Paris-based quantum computing startup, announced that it has raised €100 million in a Series B funding round led by Singapore’s Temasek. This funding round saw participation from existing investors Quantonation, the Defense Innovation Fund, Daphni, and Eni Next, as well as new investors like the European Innovation Council Fund, Wa’ed Ventures and Bpifrance.
What sets Pasqal apart in the increasingly crowded field of quantum computing startups is that the company is betting on neutral atoms quantum computing. This is a relatively new and potentially game-changing approach to building quantum processors, which uses lasers to hold atoms in place with an optical tweezer. By using this method, Pasqal can create a dense matrix of qubits and reshuffle them in 3D space as needed for a given algorithm, all at room temperature. This makes the technology more akin to Field-Programmable Gate Arrays (FPGAs) than traditional quantum processors.
Pasqal has already demonstrated that it can control more than 300 atoms at a time, and is now working on building a quantum control system to implement quantum algorithms. The company’s CEO, Georges-Olivier Reymond, believes that the team will be able to demonstrate a “quantum business advantage” to potential customers in 2024, using a system with 200 to 300 qubits. Pasqal is currently working with companies like Crédit Agricole CIB, BASF, BMW, Siemens, Airbus, Johnson & Johnson, and Thales to help them understand where its technology can solve their business needs.
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