PHOTO
Quantum computer concept photo. Image used for illustrative purpose. Getty Images
The Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar, along with French lender Bpifrance, has led a €100 million ($104.3 million) investment in quantum computing company Alice & Bob.
The capital raised in the Series B funding round will support the Paris and Boston-based firm’s plan to build the world’s first useful quantum computer by 2030.
Almost 50% of the fresh capital will go towards the construction of a state-of-the-art laboratory and production facility, and additional funds will be used to finance the hiring of new staff.
The company, which developed the technology called “cat qubit” that was later used by e-commerce giant Amazon, has already recruited more than 110 employees and raised €130 million in funding.
“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.
The latest investment round also drew support from other Series A investors, including Elaia Partners, Breega and Supernova Invest, as well as new institutional investors like Axa Venture Partners and the European Innovation Council.
(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com