A ‘Dark Horse’ In The Quantum Computing Race Raises €100 Million

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A ‘Dark Horse’ In The Quantum Computing Race Raises €100 Million
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PASQAL’s technology is based on research conducted by the winner of the 2022 Nobel Prize in Physics, and it plans to deliver major commercial advantages over classical computers by 2024.

The company also plans to increase the production of its quantum systems for on-premise installations as well as expand the development of proprietary algorithms for its customers across key verticals. Current customers include Crédit Agricole CIB, Siemens, BMW, Airbus, LG Electronics, Johnson & Johnson, Thales and BASF.

PASQAL announced recently the release of its Pulser Studio, the first no-code development platform for neutral atoms quantum computers; and a collaboration agreement with Professor Hannes Bernien at the University of Chicago to develop new techniques for enabling high-fidelity qubit control. This was the first collaboration for PASQAL with an American university. observed, the first nine funding rounds for quantum startups in 2023 all happened outside of the U.S.

The search is on for a practical, working quantum computer that can better decode real-world challenges than classical computers. The interest in finding out where and how quantum computing can make a difference is growing and so is the investment in this emerging technology by enterprises worldwide.

PASQAL’s work with its customers illustrates this rising enterprise movement of let’s-see-what-this-mysterious-technology-can-do-for-us. BASF, the world’s largest chemical company, is exploring how PASQAL’s technology can be used to predict weather patterns, while BMW is leveraging PASQAL’s algorithms to simplify complex simulations that can be used for crash testing and development of lighter parts and materials.

“This funding round validates that neutral atom technology is a premier platform for delivering real-world quantum applications, and we are proud to see its potential recognized by top investors,” Georges-Olivier Reymond, CEO and co-founder of PASQAL, said in statement.

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