France’s Quobly lands €19 million in seed funding from Quantonation, others
Quobly, a French quantum computing start-up formerly known as Siquance, has closed an initial €19 million ($21.3 million USD) fundraising round led by Paris-based Quantonation, Bpifrance via the Deep Tech 2030 fund managed on behalf of the State as part of France 2030, Supernova Invest and Innovacom.
Other investors included Crédit Agricole Alpes Développement and CEA Investissement, Caisse d’Epargne Rhone Alpes, and BNP Paribas.
The company is developing fault-tolerant quantum processors using silicon spin qubits and silicon computing techniques, and the money will be used to help “double the company’s research and development and set up the remote access interfaces necessary for software development,” according to an English translation of the Quobly’s original French press release. Quobly also is aiming to recruit actively and have 50 employees by the end of 2024.
Quobly was founded in Grenoble, France in 2022 as Siquance by computing veteran Maud Vinet (CEO), quantum engineering expert Tristan Meunier (Technology Director), and François Perruchot (Strategy Director), a veteran of advanced technology marketing programs. The company’s new name is inspired by the words “quantum” and “Grenoble.”
Vinet stated in a press release, “This first fundraising will allow us to accelerate our technological developments: both by establishing links with industrial players in microelectronics and by carrying out scientific demonstrations that will position us as a technological leader. We are delighted to be able to rely on Quantonation, Bpifrance, Supernova Invest and Innovacom, which have recognized sector expertise in the field of quantum, semiconductors and deeptech.”
Olivier Tonneau, partner of Quantonation, added, “With an exceptional scientific and technological expertise, the Quobly team also takes advantage of its strong links with the ecosystem of semiconductor technologies, in order to exploit the full potential of their technology. We are convinced that their spin qubit platform in silicon will allow the scaling up of quantum processors and the achievement of regimes inaccessible to classical processors. The Quantonation team is proud to support Quobly through its Quantonation I fund.”
Dan O’Shea has covered telecommunications and related topics including semiconductors, sensors, retail systems, digital payments and quantum computing/technology for over 25 years.