Alice & Bob secures €100M for fault-tolerant quantum computer

Alice & Bob, a pioneering startup in quantum computing, has secured €100 million in a Series B funding round led by Future French Champions, AXA Venture Partners, and Bpifrance. This funding will propel the company's goal of developing the world's first useful quantum computer by 2030 through its innovative 'cat qubit' technology, which is designed to suppress errors and enhance scalability compared to traditional qubit systems. CEO Théau Peronnin emphasized that cat qubits allow for fault tolerance with significantly fewer qubits, making the technology more practical for real-world applications. The investment round also included returning backers from the Series A round, indicating strong market confidence in Alice & Bob's approach. The funds will be utilized to improve error correction systems and begin construction of a state-of-the-art lab and production facility. This strategic move positions Alice & Bob as a key player in the competitive landscape of quantum computing.