Alice & Bob, a company specializing in fault-tolerant quantum computing, has announced the successful closure of a €100 million Series B funding roundled by Future French Champions (FFC), AVP (AXA Venture Partners), and Bpifrance. The investment will advance Alice & Bob’s cat qubit technology, which significantly reduces the number of qubits required to achieve error-corrected quantum computations.
Scaling Quantum Computing with Cat Qubits
Alice & Bob’s cat qubits offer hardware-efficient error correction, suppressing bit-flip errors—a major challenge in quantum computing. This efficiency allows for practical scalability, requiring only thousands of qubits instead of the millions needed with conventional architectures.
“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. “Cat qubits are unique, as they make scaling quantum computers practical: where conventional approaches would require millions of qubits, we would need only thousands.”
Alice & Bob is the only company known to be exclusively developing quantum computers with cat qubits, a technology it has pioneered since its 2020 founding. The company has outlined its roadmap and recent research findings in a white paper, demonstrating the potential impact of cat qubits on fault-tolerant quantum computing (FTQC).
Investment to Expand R&D and Manufacturing Capabilities
All Series A investors—Elaia Partners, Breega, Supernova Invest, and Bpifrance—have returned for the Series B round, alongside new institutional investors, including FFC, AVP, and the European Innovation Council (EIC). The investment reflects broad market confidence in Alice & Bob’s approach and technological differentiation.
Alice & Bob will use the funding to enhance system performance, improve error correction, and create its first error-corrected logical qubit. Nearly half of the funds will be used to finance the ongoing construction of a state-of-the-art lab and production facility, while additional funds will be allocated to expanding the team, which has doubled in size over the past year.
Elie Girard, Executive Chairman of Alice & Bob, added, “Quantum computing is poised to transform industries, but the engineering complexity has remained a major hurdle. 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.”
Investor Perspectives on Alice & Bob’s Potential
Antoine Emmanuelli, President, FFC
“In investing in Alice & Bob, Future French Champions recognizes the company as a French leader in quantum computing. We are eager to see Alice & Bob achieve fault-tolerant quantum computing in this highly competitive, evolving field using unique and innovative technology to make France a champion in quantum tech.”
François Robinet, Managing Partner, AVP
“We have been following the field of quantum computing for a long time at AVP and we are now convinced that quantum computing is leaving the pure R&D space and is entering into an ’industrial’ phase to soon address ’real-life’ use cases, thanks to the technology that Alice & Bob has been developing. AVP is therefore proud to support the company in their mission to reduce the hardware requirements for building a practical, large-scale quantum computer.”
François Charbonnier, Investment Director, Bpifrance
“We are thrilled to once again contribute to the groundbreaking work that Alice & Bob is doing to scale quantum computers for real-world applications. Bpifrance’s continued investment in Alice & Bob reflects our goal to establish France as an international leader in quantum computing and bolster the growth of the French economy by investing in technology that will disrupt industries and solve problems globally.”
Maximilien Bacot, Co-founder & COO, Breega
“For the past four years, we’ve had the privilege of collaborating with Alice & Bob’s founders, whose remarkable vision, determination, and expertise continue to inspire us. Together, we’re driving a big leap in technology, redefining the limits of what’s possible with scalable and sustainable quantum computing—an ambition perfectly aligned with Breega’s mission to support transformative innovation.”
Anne-Sophie Carrese, Partner, Elaia
“Since Alice & Bob’s inception, Elaia Partners has been proud to stand behind the company as it strives to achieve energy and hardware-efficient fault-tolerant quantum computers using cat qubits. Alice & Bob’s work in reducing the energy required for quantum computations aligns closely with our ESG goals, and we look forward to seeing how their technology can solve even greater energy problems in other sectors.”
Etienne Moreau, Partner, Supernova Invest
“Supernova Invest strengthens its commitment to quantum and to Alice & Bob by participating in this Series B as the company has built a clear roadmap towards the delivery of the first fault-tolerant quantum computer. This funding will propel the company into a new era of computing power, far exceeding existing capacity for generational change in critical applications in energy, healthtech, or industry.”
About Alice & Bob
Alice & Bob is a quantum computing company based in Paris and Boston with the goal of developing the first universal, fault-tolerant quantum computer. Founded in 2020, the company has raised €130 million, hired over 110 employees, and demonstrated experimental results surpassing technology giants such as Google and IBM.
Alice & Bob specializes in cat qubits, a technology pioneered by its founders and later adopted by Amazon. The company has demonstrated that its approach can reduce hardware requirements for large-scale quantum computing by up to 200 times compared with conventional methods. The Alice & Bob cat qubit system is available for cloud access.
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Source/Photo Credit: Alice & Bob
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