Quobly Raises $21M to Advance Silicon Spin Technology

French semiconductor quantum company Quobly, formerly Siquance, has raised $21.3 million in a seed funding round to develop quantum processors based on silicon spin qubits. Quobly will use the funds to boost its R&D efforts, establish remote access interfaces for software development and recruit expertise. 

The funds raised in this round will enable Quobly to form technological partnerships, establish a reference partner ecosystem, and accelerate research and development for quantum bit quantity and quality. Quobly aims to hire 50 top international silicon technologies and quantum engineering experts by the end of 2024. This funding round represents the largest seed round ever achieved by a European quantum company in terms of private capital invested.

“This first fundraising will allow us to accelerate our technological developments: establishing links with industrial players in microelectronics and 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 deep tech,” said Quobly founder Maud Vinet.   

Vinet founded Quobly in 2022 to develop fault-tolerant quantum computing processors. The company aims to create quantum bits, the basic unit of quantum computing, using classical computing technologies. If successful, they plan to produce millions of quantum bits necessary for fault-tolerant computing. 

According to Quobly, “Europe’s semiconductor giants already know how to fabricate millions of identical objects. We now know how to apply these capabilities to qubits.”

The company believes that using established semiconductor-industry technologies, processes and production capacity in Europe presents the fastest and most cost-effective approach to bringing a universal quantum computer to the market.