Insider Brief
- Pasqal is in talks to raise €200 million in a funding round that would value the French quantum computing startup at more than $1 billion pre-money, according to Bloomberg.
- The Paris-based company builds neutral atom quantum processors and provides both hardware and software, positioning itself as a full-stack quantum computing firm.
- The potential raise comes amid a surge in quantum investment activity, with recent large funding rounds by IQM, Multiverse Computing and a new €220 million fund from Quantonation.
Pasqal SAS is in discussions to raise €200 million in new financing at a valuation exceeding $1 billion before the investment, according to media reports.
Bloomberg reported that the French startup is negotiating the funding round, which would value the company at more than $1 billion pre-money, citing people familiar with the matter. The deal has not been finalized and terms could change, indicating that the discussions are private and fluid.
Pasqal did not immediately respond to Bloomberg’s request for comment.
The potential round would mark a significant step for the Paris-based company, which was co-founded by Alain Aspect, a winner of the 2022 Nobel Prize in Physics. Pasqal positions itself as a full-stack quantum computing company, developing both hardware and software designed to run on its machines.
Pasqal builds quantum processors using neutral atom technology. Unlike classical computers, which use bits that are either zero or one, quantum computers rely on qubits, which can theoretically exist in multiple states at once. Neutral atom systems use individual atoms as qubits, trapping and arranging them with lasers. Researchers say this approach offers flexibility in how qubits are organized and may scale more easily to larger systems.
Rising Capital in Quantum
The fundraising talks come as investor interest in quantum technology appears to be accelerating, with several large financial stories about quantum just this week. According to Bloomberg, the sector is drawing growing commitments from venture capital firms, large technology companies and governments.
While practical applications are still expected to take years to mature, quantum computers could eventually tackle certain calculations far more efficiently than today’s machines. Potential use cases include complex simulations for artificial intelligence, drug discovery and advanced materials, as well as cryptography. Governments have also increased spending on quantum research due to its potential implications for national security and encryption.
Recent funding activity underscores that trend. Bloomberg noted that Paris-based deep tech venture firm Quantonation, an existing Pasqal investor, announced a new €220 million fund focused on quantum technologies this week. Finnish startup IQM raised €275 million in a Series B round in September. Spanish AI software company Multiverse Computing, whose team includes quantum physicists, is reportedly in talks to raise about €500 million. Meanwhile, fellow neutral-atom company Infleqtion started to trade on the New York Stock Exchange this week.
Pasqal has previously raised €100 million. Bloomberg reported that earlier investors include Temasek, Bpifrance and Wa’ed Ventures, the venture arm of Saudi Aramco. In November, LG Electronics Inc. said it was acquiring a stake in Pasqal to collaborate on quantum algorithms aimed at improving product design and performance.
