Alice & Bob Raises $104M for Fault-Tolerant Quantum ComputingAlice & Bob Raises $104M for Fault-Tolerant Quantum Computing

Alice & Bob, a French quantum computing company, has secured $104 million in a series B financing round to support its aims of developing a practical quantum computer by 2030.

The funding round was led by Future French Champions, AXA Venture Partners and Bpifrance. Future French Champions is a partnership between QIA, the state of Qatar’s sovereign wealth fund, and Bpifrance.

Alice & Bob hardware uses cat qubits, a type of superconducting qubit developed by the company’s founders and later adopted by Amazon. A recent demonstration by the company suggested its architecture could reduce the hardware requirements for building a useful large-scale quantum computer by up to 200 times compared to competing approaches.

Cat qubits inherently suppress bit-flip errors, one of the two types of errors that plague quantum computers. This property makes them a candidate for enabling more efficient architecture that could lead to fault-tolerant quantum computers (FTQCs) for real-world applications.

“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 Alice & Bob CEO Théau Peronnin.

“Cat qubits are unique, as they make scaling quantum computers practical. Where conventional approaches would require millions of qubits, we would need only thousands.”

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Alice & Bob plans to use the funding to boost system performance, enhance error correction, and develop its first error-corrected logical qubit.

Nearly half of the funds would support the continued construction of a cutting-edge lab and production facility, while additional resources are targeted to expanding the team, which has doubled over the past year.

The scale of the funding reflects strong market confidence in Alice & Bob's approach and its potential to transform multiple industries.

“Quantum computing is poised to transform industries, but the engineering complexity has remained a major hurdle,” said Alice & Bob executive chair Elie Girard.

“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.”