Quobly (former Siquance) raises €19m led by Quantonation & Bpifrance

NewsPortfolio13 July 2023

Paris, July 12, 2023 – Quobly, formerly known as Siquance, announces the closing of its €19M Seed round. The company is developing quantum processors based on silicon spin qubits which can leverage the current semiconductor production capabilities to reach scalability and in the long run implement a fault tolerant Quantum Computing paradigm.

Led by Quantonation, Bpifrance via the Deep Tech 2030 fund, Supernova Invest, and Innovacom, and complemented by Crédit Agricole Alpes Development, CEA Investment, Caisse d’Epargne Rhone Alpes, and BNP Paribas, the operation aims to double the company’s Research & Development efforts and establish necessary remote access interfaces for software development.

Established in 2022 in Grenoble, Quobly focuses on developing fault-tolerant quantum computing processors. The groundbreaking innovation involves using standard computing technologies to define quantum bits, the basic units of quantum computing. It aims to become a global leader in quantum computing.

The fundraising round will allow Quobly to form technological partnerships, establish a reference partner ecosystem, and accelerate its R&D in the quest for quantity and quality of quantum bits. Quobly is now recruiting top international experts in silicon technologies and quantum engineering with the ambition of employing 50 people by the end of 2024. The fundraising round represents the largest “seed” funding round ever achieved by a European quantum company in terms of private capital invested.

Quobly aims to leverage this first fundraising round to accelerate its technological developments and establish itself as a technology leader. It has the support of renowned sectoral experts from Quantonation, Bpifrance, Supernova Invest, and Innovacom. Other partners, including the State-managed Deep Tech 2030 fund, Quantonation I fund, and Bpifrance, have also expressed their strong support for Quobly’s ambitious projects.

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