France-based Quobly (formerly, Siquance), a company building a quantum computer using proven semiconductor processes for a better digital future, announced that it has raised €19M in a seed round of funding.
Besides the funding, the company also announced its rebranding from Siquance to Quobly earlier this month.
Investors in this round
The investment was led by Quantonation, Bpifrance (through the Deep Tech 2030 fund managed on behalf of the State as part of France 2030), Supernova Invest, and Innovacom.
The round also saw participation from Crédit Agricole Alpes Développement, CEA Investissement, Caisse d’Epargne Rhone Alpes, and BNP Paribas.
Damien Bretegnier, investment director at Supernova Invest, says, “By developing a quantum computer on a semiconductor process, Quobly is opening up an exciting and relevant path towards truly high-performance quantum computers.”
“The company’s approach will trigger a major technological and industrial revolution, the fruit of many years of research by the CEA and the CNRS. Supernova Invest is very proud to support this pioneering team, by investing with our new Supernova Innovation 3 fund in this new Grenoble-based nugget with global potential,” adds Bretegnier.
Building a quantum computer
Founded in 2022 by Maud Vinet, Tristan Meunier and François Perruchot, Quobly is an error-tolerant quantum computing processor developer. It aims to develop and commercialise a large-scale quantum computer using proven semiconductor-industry processes.
In comparison to early quantum computer prototypes, the technological innovation is based on the usage of normal classical computing methods to define quantum bits, the fundamental units of quantum computing.
This paves the way for the production of the millions of quantum bits necessary for fault-tolerant computing.
This is where Quobly comes in. The company’s research led to a major advance: turning transistors into quality quantum bits.
Quobly says, “Europe’s semiconductor giants already know how to fabricate millions of identical objects. We now know how to apply these capabilities to qubits.”
Quobly believes that using established semiconductor-industry technologies, processes, and production capacity in Europe is the quickest and most cost-effective method to bring a universal quantum computer to market.
The company leverages existing production capacities, particularly French and European semiconductor factories. Its goal is to make a positive impact on the digital future through quantum-enabled computing solutions for energy distribution, drug discovery, and more.
Quobly is a spinoff of the CEA, a major RTO, and the CNRS, a centre for academic research. The company will continue to develop silicon spin qubit technology that has been cultivated via two decades of scientific collaboration between these organisations.
In July 2023, the company changed its name from Siquance to Quobly. The new name stands for “Quantum” and “Grenoble”, and represents the historically strong links between quantum research and development, and the Grenoble semiconductor sector.
Capital utilisation
Quobly says it will use the money to forge technological alliances and build a “leading” partner ecosystem, accelerating its research and development in the race for both quantity and quality of quantum bits.
Through partnerships and licence agreements, Quobly gains access to CEA and CNRS’ knowledge, R&D skills, and intellectual property. The company also gains from their ecosystems, which address all issues related to quantum technology, from basic study to industrialisation.
With the goal of having 50 employees by the end of 2024, Quobly is currently hiring the “best” international professionals in silicon technologies and quantum engineering.
Co-founder Maud Vinet says, “This first fundraising round will allow us to accelerate our technological developments by establishing links with industrial players in microelectronics and conducting scientific demonstrations that will position us as a technological leader.
We are delighted to rely on Quantonation, Bpifrance, Supernova Invest, and Innovacom, who have recognised sector expertise in the quantum, semiconductor, and deep tech fields,” adds Vinet.
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