Alice&Bob Raises $104M for Cat Qubit Quantum Computers

Quantum computing, often described as the “holy grail” of technology, promises unprecedented computing power. However, high fault rates have kept the technology from scaling effectively. Paris-based startup Alice&Bob aims to tackle this challenge head-on. The company has secured €100 million ($104 million) in a Series B funding round to accelerate its work on building a fault-tolerant quantum computer based on its innovative "cat qubit" architecture.

What Makes Alice&Bob Unique?

Alice&Bob’s approach focuses on fault tolerance—accepting and correcting errors at the hardware level to simplify the overall quantum system. Their “cat qubit” design, inspired by Schrödinger’s cat, leverages the principle of being in two states simultaneously. This innovation corrects half of the errors directly at the hardware level, paving the way for more scalable and practical quantum machines.

According to CEO and co-founder Théau Peronnin, the industry is aligning with Alice&Bob’s vision of fault tolerance. The startup anticipates delivering its first “useful” quantum computer by 2030.

The Growing Need for Quantum Computing

With computing power becoming a critical resource, quantum computers offer the potential to outperform traditional processors in efficiency and speed. The surge in demand for high-performance computing—highlighted by projects like the $500 billion Stargate AI data center—is driving significant investment in quantum technologies.

“Computing is becoming the core resource for productivity, and quantum is a potential game changer here,” Peronnin said.

Major Backers and Industry Momentum

The funding round was co-led by Future French Champions (FFC), AXA Venture Partners (AVP), and Bpifrance, which had previously co-led Alice&Bob’s $30 million Series A in 2022. The startup’s valuation is estimated to be between $300 million and $400 million, comparable to partners like Riverlane.

This is one of the largest funding rounds for a quantum computing startup in Europe. It reflects growing investor confidence in quantum technology as other notable players like Riverlane, Quantinuum, and Quantum Machines secure significant investments.

A Shift in Quantum Development

Alice&Bob’s progress comes at a time when major players like Google, Microsoft, and startups worldwide are racing to overcome quantum computing’s limitations. Google’s AlphaQubit achieved a breakthrough in error identification, while Microsoft and Atom Computing are gearing up to release commercial quantum computers.

Alice&Bob’s investors believe the startup is uniquely positioned to turn quantum computing into a commercial reality. “Getting rid of one of two major errors, as Alice&Bob is doing, is a game changer,” said Francois Charbonnier, partner at Bpifrance.

What's Next

While Alice&Bob’s quantum computer is still a long-term project, its innovative approach is capturing attention. With its focus on fault-tolerant architecture, the startup aims to simplify quantum machines and make them viable for real-world applications.

The race for quantum supremacy is heating up, and Alice&Bob appears ready to lead the charge. As Peronnin put it, “The game is on.”