Pasqal Raises €25M Series A to Speed Up Commercialization of Quantum Processors
(HPCWire) Pasqal announced it has raised €25M in Series A funding. The round was led by Quantonation and the Defense Innovation Fund, managed by Bpifrance on behalf of the Defense Innovation Agency (AID), 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, strengthen its applications co-design approach, build its Quantum Computing as a Service hybrid cloud offer as well as initiate international expansion.
In Pasqal’s processors, neutral atoms are manipulated with laser light with exquisite precision to realize quantum processors on-demand with high connectivity and at unprecedented scale, above 100 qubits and towards the 1000 qubits threshold. Pasqal has been developing the full computing stack, from atomic qubits to software tools for efficient operation and incorporation into major third-party programming environments. One quantum computer is already in operation and 2 more are in construction. Pasqal has established partnerships for application co-design with High Performance Computing communities in Italy (CINECA) and France (GENCI), as well as with partner startups and end-users such as utility EDF and financial institutions.
Dmitry Galperin, partner at Runa Capital, said: “Pasqal’s Quantum Processor is based on the arrays of neutral atoms interacting in a Rydberg state. This approach is different from the ones pursued by incumbent players like IBM or Google, but we believe it provides the fastest path for scaling to thousands of high fidelity qubits and achieving quantum advantage for a variety of practical applications.”
Florence Parly, French Minister of the Armed Forces, said : “The Ministry of the Armed Forces is pleased to support the development of Pasqal through the first investment of the new Defense Innovation Fund. This fund supports the growth of French technological champions with dual applications (civilian and military).