French Quantum startup Quobly bags $133M in major funding round
Quobly has raised €130 million in one of Europe's largest quantum computing funding rounds, adding momentum to a sector attracting billions in public and private investment. The financing comes as governments and technology companies increase spending on next-generation computing platforms viewed as strategically important for future industries.
Quobly secured €130 million to develop silicon-based quantum processors as governments and investors worldwide increase spending on quantum computing technologies and advanced semiconductor capabilities.
Key Highlights
- Quobly raised €130 million in a Series A financing round.
- Funding will support silicon-based quantum processor development and production.
- The company originated from research conducted at CEA-Leti in France.
- Global government commitments to quantum technologies exceed $40 billion, according to McKinsey.
- Quantum computing investment continues to grow across Europe, China and North America.
French quantum computing startup, Quobly, has raised €130 million ($133 million) in a Series A investment round for its silicon-based quantum processors.
The funds will include those for research, engineering and industrial production, the company said. CEA-Leti's founder, Quobly, is working on quantum chips where the approach is based on silicon manufacturing processes that are widely used among the semiconductor industry.
The funding round is one of the biggest private Quantum Computer Funding announcements by the European Quantum Computer Company this year.
Silicon Chips Draw Industry Attention
Unlike certain other quantum technologies, Quobly's approach involves a silicon that is the same used in traditional computer chips.
Those in favor of the technology say the ability to integrate with today's semiconductor manufacturing systems may make the process easier for the future. The funding will be put toward bringing its technology closer to the marketplace for industrial use.
The announcement follows a sustained surge in investments by large technology companies and startups in quantum computers, which are still in the process of being developed and are designed to perform calculations that today's computers can't.
Investment Expands Across Key Markets
The investment is a part of the growing trend of quantum technology investment in the world.
The latest Quantum Technology Monitor by McKinsey & Company indicates that governments around the world have invested more than $40 billion in quantum technologies. The United States and China are still the top providers of public investment, and Europe has ramped up investment via national programmes in France, Germany, the United Kingdom, the Netherlands and Finland.
In addition, a report by the World Economic Forum projected that quantum computing would be in the top 10 emerging technologies that are gaining more public and private investment as countries invest in their computing and semiconductor capabilities in 2025.
In the context of that backdrop, Quobly's funding round is part of a growing number of investments to advance the next steps of scaling quantum hardware and development in the industry more broadly.
FAQs
Q1. Why is Quobly's €130 million funding round attracting attention?
The funding ranks among the largest recent investments in a European quantum computing company and comes as global spending on quantum technologies continues to increase.
Q2. What technology is Quobly developing?
Quobly is building silicon-based quantum processors, using manufacturing methods that are closer to those used in the semiconductor industry.
Q3. How does Quobly fit into the global quantum computing race?
The company is part of a growing group of quantum hardware developers competing to build practical quantum computers as governments and investors increase funding worldwide.
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