Quantum computing is advancing rapidly, and Qatar is taking a leading role in its future. Qatar Investment Authority (QIA) and Bpifrance have spearheaded a $104 million Series B funding round for Alice & Bob, a Paris-based quantum computing startup. The investment will accelerate the development of the company’s proprietary “cat qubit” technology, a breakthrough designed to reduce errors in quantum systems.
Quantum computing, which processes data using qubits rather than traditional bits, has the potential to transform industries by performing complex calculations at unprecedented speeds. Unlike conventional bits that store values as either zero or one, qubits exist in a state of superposition, allowing them to represent multiple values at once. Alice & Bob’s cat qubits, named after Schrödinger’s famous thought experiment, offer a unique advantage by minimizing errors and significantly reducing the number of qubits required to scale the computers.
“Quantum computing is poised to transform industries, but engineering complexity has remained a major hurdle,” said Elie Girard, Executive Chairman of Alice & Bob. “This funding offers a clear path forward to addressing these challenges.”
The funding will support Alice & Bob’s expansion, with nearly half allocated toward constructing a new laboratory and production facility. CEO Théau Peronnin emphasized the scalability of their approach, stating that while conventional quantum systems require millions of qubits, cat qubits could enable functional quantum computers with just thousands.
The investment by Future French Champions (FFC), a joint initiative between QIA and Bpifrance—reinforces the Gulf region’s increasing role in high-tech investments. “Alice & Bob is a French leader in quantum computing, and we are eager to see them achieve fault-tolerant quantum computing,” said FFC President Antoine Emmanuelli.
For the Middle East, this move aligns with a broader strategy to establish itself as a hub for next-generation technologies. Qatar has been actively backing global tech companies, including Elon Musk’s xAI, to diversify its economy and strengthen expertise in artificial intelligence, quantum computing, and renewable energy.
As quantum computing moves from theoretical research to real-world application, investors are betting on its transformative potential. “Quantum computing is shifting beyond pure R&D into an industrial phase,” said François Robinet, managing partner at AXA Venture Partners, who also participated in the funding round.
With the Gulf region deepening its investment in cutting-edge technology, quantum could soon play a pivotal role in solving critical regional challenges, from optimizing energy grids to managing scarce water resources.
