Quobly Raises €115M for Quantum Computing Advancement

French quantum computing startup Quobly has successfully closed a substantial Series A funding round, raising €115 million. This significant capital injection is earmarked to accelerate the industrialization of its quantum computer, which leverages established semiconductor technologies. The round saw participation from prominent international industrial players, including semiconductor giant STMicroelectronics and industrial gas leader Air Liquide, through its venture arm Aliad. This funding positions Quobly to compete effectively within the capital-intensive quantum hardware sector.

The investment round was also bolstered by contributions from SealSQ, a Swiss cybersecurity specialist, the European Innovation Council, and Blast. Existing investors, including Quantonation, Supernova Invest, Innovacom, and Bpifrance, also participated, underscoring continued confidence in Quobly's technological approach. CEO and co-founder Maud Vinet highlighted the significance of this funding, noting it places the company on par with its domestic rivals in terms of capital accessibility.

Quobly differentiates itself by building quantum computers based on silicon, a technology deeply integrated with existing microelectronics manufacturing processes. This approach aims to produce machines that are more cost-effective to deploy and directly compatible with current data center and supercomputing infrastructures. According to Vinet, this compatibility offers clients considerable savings in both time and financial outlay, a crucial advantage in the nascent quantum computing market, which is projected for significant growth driven by advancements in AI and complex simulations.

The newly acquired capital will fuel Quobly's research and development efforts, support the delivery of its first quantum computer by 2027, and drive international expansion. The company, founded in 2022 by researchers from CEA and CNRS, has already established a presence in Paris, Taiwan, Singapore, and Sherbrooke, Canada. This funding aligns with a broader French national strategy to bolster its quantum sector, recently reinforced by a €1 billion government initiative aimed at public procurement, research, and training.

Quobly is already generating revenue, with a €10 million contract from the French army under the "Proqcima" program, which aims to equip the French state with domestically produced quantum prototypes. Furthermore, the company is set to provide its first cloud-accessible quantum computer to OVHcloud this year, eliminating the need for physical infrastructure on the client's end. Future targets include major cloud providers like AWS and Google Cloud, as well as sovereign entities such as banks and governments.

The strategic involvement of new investors is expected to provide critical expertise. STMicroelectronics will lend its semiconductor manufacturing prowess, Air Liquide will ensure the supply of essential raw materials, and SealSQ will contribute to cybersecurity aspects. Notably, discussions for SealSQ to acquire Quobly were previously explored but ultimately paused in favor of a strategic minority investment, allowing Quobly to pursue its growth trajectory independently for now. The company plans to significantly expand its workforce, aiming to triple its current headcount of approximately 100 employees within the next two years.