The round was led by Quantonation and the Defense Innovation Fund, managed by Bpifrance, with Runa Capital, Daphni and Eni Next participating and includes previously announced commitment by the European Innovation Council (EIC) Fund. The funding will be used to advance the development of Pasqal’s analog and digital quantum processors towards 1000 qubits by 2023, strengthen its applications co-design approach, build its Quantum Computing as a Service hybrid cloud offer as well as initiate international expansion. This is one the largest series A rounds in Europe for Deep Tech.
“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 ground breaking work on the applications side” said Christophe Jurczak, partner at Quantonation.