A French quantum computing startup announced Friday it has secured new funding from Nvidia’s venture capital division, as competition intensifies in the rapidly evolving quantum technology sector.
Alice & Bob, the Paris-based company, received investment from NVentures but did not disclose the funding amount. The announcement follows the Trump administration’s recent commitment to invest $2 billion in equity across nine quantum computing firms as part of efforts to maintain American dominance in this emerging field.
Growing technological advances have sparked increased investor enthusiasm for quantum computing’s ability to accelerate processes in areas like pharmaceutical research, financial analysis, and encryption technology.
The surge in funding reflects growing recognition that “computing infrastructure is becoming more and more crucial in our economies,” Alice & Bob CEO Theau Peronnin explained to Reuters. He described the investment increase as “massive.”
The company, which maintains locations in Paris and Boston, specializes in “cat qubits” – a unique form of quantum bit engineered to better withstand errors compared to standard qubits. This addresses a fundamental challenge facing quantum computing development.
This latest funding supplements a €100 million Series B financing round the company completed last year. According to Peronnin, the new investment follows recent collaborative work between Alice & Bob and Nvidia on multiple projects that showcased the firm’s capabilities and innovations.
Peronnin emphasized that Alice & Bob’s approach enables the creation of “very compact, very cost-efficient” quantum systems, “positioning us really at the forefront of the race at the moment.”
The company is taking part in France’s PROQCIMA initiative, overseen by the Ministry of the Armed Forces, which targets completion of two French-developed universal quantum computer prototypes ready for commercial production by 2032.
“We hope for a strengthening of that public procurement programme,” Peronnin stated, noting that government backing of strategic sectors “forces companies to deliver and it helps create champions.”
