Insider Brief
- Alice & Bob announced a raise of €100 million in its Series B funding round.
- The funding round was led by Future French Champions (FFC), AVP (AXA Venture Partners) and Bpifrance.
- Alice & Bob leadership says the funding will accelerate Alice & Bob’s path to build the world’s first useful computer by 2030.
- Image: Alice & Bob’s Co-founders, left to right: Co-founder/CEO Dr. Théau Peronnin & Co-founder/Chief Technology Officer Dr. Raphaël Lescanne.
PRESS RELEASE — Alice & Bob, a global frontrunner in the race for fault-tolerant quantum computing, today announced a raise of €100 million in its Series B funding round, led by Future French Champions (FFC), AVP (AXA Venture Partners) and Bpifrance. FFC is a partnership between QIA and Bpifrance.
The funding will accelerate Alice & Bob’s path to build the world’s first useful quantum computer by 2030.
“Having established performance records with our cat qubits, Alice & Bob now enters a new phase focused on building a quantum computer that can deliver valuable results,” said Théau Peronnin, CEO of Alice & Bob. “Cat qubits are unique, as they make scaling quantum computers practical: where conventional approaches would require millions of qubits, we would need only thousands.”
At the center of cat qubits’ hardware-efficiency is the inherent suppression of bit-flip errors, one of the two types of errors that plague quantum computers. This property is key to enabling more efficient architectures for Fault-Tolerant Quantum Computers (FTQCs) that resist errors and can be used in real-world applications. Alice & Bob is the only player developing quantum computers exclusively with this type of qubit, which the company has pioneered since its inception in 2020. To learn more about Alice & Bob’s technology, see its recently published white paper and roadmap.
All Series A investors, Elaia Partners, Breega, Supernova Invest and Bpifrance, returned for the Series B round, joined by new institutional investors, FFC, AVP, and the EIC (European Innovation Council), reflecting broad market confidence in Alice & Bob’s approach and future impact.
Alice & Bob will use the funding to enhance the performance of its system, improve error correction, and create its first error-corrected logical qubit. Nearly half of the funds will be used to finance the ongoing construction of a state-of-the-art lab and production facility, and additional funds will be used to further expand the team, which has doubled in the past year.
Elie Girard, Executive Chairman of Alice & Bob, added, “Quantum computing is poised to transform industries, but the engineering complexity has remained a major hurdle. Alice & Bob’s cat qubit innovation offers a clear path forward, combining efficiency and reliability to unlock quantum’s full potential. This funding allows for Alice & Bob to continue to grow as a company and leading player in the industry.”
Quotes From Investors
Antoine Emmanuelli, President, FFC
“In investing in Alice & Bob, Future French Champions recognizes the company as a French leader in quantum computing. We are eager to see Alice & Bob achieve fault-tolerant quantum computing in this highly competitive, evolving field using unique and innovative technology to make France a champion in quantum tech.”
François Robinet, Managing Partner, AVP
“We have been following the field of quantum computing for a long time at AVP and we are now convinced that quantum computing is leaving the pure R&D space and is entering into an ’industrial’ phase to soon address ’real-life’ use cases, thanks to the technology that Alice & Bob has been developing. AVP is therefore proud to support the company in their mission to reduce the hardware requirements for building a practical, large-scale quantum computer.”
François Charbonnier, Investment Director, Bpifrance
“We are thrilled to once again contribute to the groundbreaking work that Alice & Bob is doing to scale quantum computers for real-world applications. Bpifrance’s continued investment in Alice & Bob reflects our goal to establish France as an international leader in quantum computing and bolster the growth of the French economy by investing in technology that will disrupt industries and solve problems globally.”
Maximilien Bacot, co-founder & COO, Breega
“For the past four years, we’ve had the privilege of collaborating with Alice & Bob’s founders, whose remarkable vision, determination, and expertise continue to inspire us. Together, we’re driving a big leap in technology, redefining the limits of what’s possible with scalable and sustainable quantum computing—an ambition perfectly aligned with Breega’s mission to support transformative innovation.”
Anne-Sophie Carrese, Partner, Elaia
“Since Alice & Bob’s inception, Elaia Partners has been proud to stand behind the company as it strives to achieve energy, and hardware-efficient fault-tolerant quantum computers using cat qubits. Alice & Bob’s work in reducing the energy required for quantum computations aligns closely with our ESG goals, and we look forward to seeing how their technology can solve even greater energy problems in other sectors.”
Etienne Moreau, Partner, Supernova Invest
“Supernova Invest strengthens its commitment to quantum and to Alice & Bob by participating in this Series B as the company has built a clear roadmap towards the delivery of the first faut-tolerant quantum computer. This funding will propel the company into a new era of computing power, far exceeding existing capacity for generational change in critical applications in energy, healthtech or industry.”
