FRANCE – Pasqal, a Paris, France-based neutral atoms quantum computing company, raised €100M in Series B funding.
The round was led by Temasek, with participation from the European Innovation Council (EIC) Fund, Wa’ed Ventures, Bpifrance, Large Venture Fund, Quantonation, the Defense Innovation Fund, Daphni and Eni Next.Founded in 2019, out of the Institut d’Optique, by Georges-Olivier Reymond, Christophe Jurczak, Professor Dr. Alain Aspect, Nobel Prize Laureate Physics, 2022, Dr. Antoine Browaeys, and Dr. Thierry Lahaye, Pasqal builds quantum computers from ordered neutral atoms in 2D and 3D arrays to bring a practical quantum advantage to its customers and address real-world problems. The company is currently engaged with many Global Fortune 500 companies, including Crédit Agricole CIB, BASF, Aramco, Eni, and BMW. Other customers include Siemens, Airbus, LG Electronics, Johnson & Johnson and Thales, among many others.Pascal, which has secured more than €140M in financing to date, intends to use the funds to: The technology was built upon research of company co-founder Alain Aspect. Pasqal plans to double its current team of 100 employees this year. 25/01/2023Quantum computing aims to overcome the limitations of classical computing and bring unprecedented processing power to solve highly valuable computational problems that could not be addressed previously. According to BCG research, quantum computing will unlock new value across many industries, creating up to $850 billion in annual value by 2040.Orrick served as legal counsel and Perella Weinberg Partners (PWP) served as financial advisor to PASQAL.
