Alice&Bob, a pioneering quantum startup in Europe, has raised €100 million ($104 million) in a Series B funding round to accelerate its mission to build a fault-tolerant quantum computer. The Paris-based company, which specializes in cat qubit quantum architecture, plans to use this investment to develop a commercial-scale quantum computer that can correct errors and work around them.

The funding round was co-led by Qatari-backed Future French Champions (FFC), AVP (AXA Venture Partners), and Bpifrance, which also co-led its Series A of $30 million in 2022. Although the startup is not disclosing its valuation, sources suggest it is comparable to Riverlane, a partner of Alice&Bob's, which was valued at around $400 million last year.

Alice&Bob's CEO and co-founder, Théau Peronnin, emphasized the importance of fault tolerance in quantum computing, stating that traditional computing architecture is unsustainable in the long run. He believes that quantum computers, with their promise of greater efficiency, will be the driver for more investment and innovation in the industry.

The startup's cat qubit architecture is a key differentiator, as it accepts some faults while correcting others. This approach is designed to simplify the total machine and make quantum computing more commercially viable. Peronnin expects Alice&Bob's first "useful" quantum computer to be available by 2030.

The investment comes at a time when the appetite for more computing power is at an all-time high, driven by projects like the $500 billion Stargate AI data center commitment in the U.S. and the growth of computing chip makers like Nvidia. The quantum computing industry is also seeing significant investment, with recent fundraises including Riverlane's $75 million, SEEQC's $30 million, and Quantum Machines' reported $100 million.

Notably, Google made a breakthrough in fault removal with its AlphaQubit AI system in November 2024, and Microsoft and Atom Computing have promised to release a commercial quantum computer this year. The race to develop a practical quantum computer is heating up, and Alice&Bob's investors believe the startup's cat qubit architecture could be the key to making quantum computing a commercial reality.

Francois Robinet, a partner at AVP, noted that while Alice&Bob has been working on its technology for years, the investment firm waited until the startup's architecture appeared capable of supporting 48 qubits before investing. Francois Charbonnier, a partner at Bpifrance, echoed this sentiment, stating that getting rid of one of two major errors, as Alice&Bob is doing, is a game changer for scaling.

As the quantum computing industry continues to evolve, Alice&Bob's €100 million funding round marks a significant milestone in the pursuit of a fault-tolerant quantum computer. With its innovative cat qubit architecture and ambitious goals, the startup is poised to play a leading role in shaping the future of computing.