Quantum computing promises solutions to problems beyond the capabilities of classical computers. However, the field of quantum computing still faces major obstacles, particularly regarding error correction and scalability. Alice & Bob, founded in 2020, is pushing the boundaries forward with its qubit design in a unique way.

Company Description

Alice & Bob is a company dedicated to designing and building fault-tolerant quantum computers. The proprietary “cat qubit” technology developed and engineered by the company suppresses particular types of errors and enables more scalable and reliable quantum computations. Since its inception, Alice & Bob has accomplished tremendous work in quantum research and development.

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Key Achievements

• Year of Founded: 2020
• Total Fund Raised: €130 million so far
• Team Expansion: More than 110 employees as of January 2025
• Technical Successes: Published experimental evidence that confirmed the functionality of cat qubits

Funding detail

Led by Series B funding from €100 million was Future French Champions (FFC), AXA Venture Partners, (AVP) and Bpifrance; the fundraising had also contributed input from early backers Elaia, Partners, Supernova Invest & Breega & European innovation Council EIC in addition, further backing. A cash injection targeted accelerating its mission into realizing the worlds very first use of a helpful quantum computer as such, through year 2030.

• Research and Development: Most of the money will be spent on the development of the company’s cat qubit technology, targeting the first error-corrected logical qubit.
• Industrial Development: Around €50 million will be used for a new industrial site of 4,000 square meters in the vicinity of Paris. The site will focus on the development of larger prototypes and improvement of the performance of quantum devices.

Team Size will be doubled within the next 18 months to reach 200 employees, strengthening domain expertise in quantum computing areas such as quantum computing, quantum software, and superconducting materials.

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The Cat Qubit Advantage

Traditional qubits are prone to errors, notably bit-flip errors, that compromise the fidelity of quantum information. Cat qubits constructed by Alice & Bob are such that they should natively cancel out these errors, thus reducing overhead associated with conventional error correction.
This may usher in fault-tolerant quantum computers with vastly fewer qubits compared to the standard method.

Error Correction Efficiency

• Standard Method: Needs roughly 1,000 physical qubits to create a single logical qubit.
• Cat Qubit Approach: Theoretically, only five cat qubits are required to build one logical qubit, which is a tremendous efficiency improvement.

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Post-Funding Strategic Initiatives

Alice & Bob has identified several strategic initiatives with the new funding to send the company on its journey toward building a practical quantum computer. These include:

• Development of Logical Qubits: Firstly the creation of the first error-corrected logical qubit with cat qubit technology, which may prove to be a crucial step toward scalable quantum computing.
• Scaling Quantum Chips: Develop a quantum chip with 48 cat qubits within the next two years, which translates to four logical qubits.
• Infrastructure Development: Establish a high-tech industrial campus to enable large-scale and complex quantum prototypes’ production.
• Talent: Scale up by hiring the best talent in various disciplines, including quantum physics, engineering, and computer science.
• Collaborative Partnerships: Seek partnerships with academic institutions, research organizations, and industry leaders to foster innovation and accelerate development.

The Quantum Computing Landscape

The competition to develop usable quantum computers has been heating up, with not just the tech giants but also many startups contributing in a big way. Quantum computers can revolutionize industries by solving some of the hardest problems that no classical computer is known to solve currently.

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Market Potential

• Economic Impact: Quantum computing will potentially create an economic value of up to $850 billion through 2040, as estimated by Boston Consulting Group.
• Industry Applications: General domains include cryptography, material science, pharmaceuticals, and optimization of complex systems.

Challenges and Opportunities

The vast promise of quantum computing can be very hard to realize only if there are a few challenges overcome to achieve this goal:

• Error Correction: There is the need for developing efficient methods of correcting qubit errors for reliable quantum computations. 
• Scalability: The main engineering challenges are producing systems that contain enough qubits, yet which remain coherent and controlled. Commercialization: Moving from experimental prototypes to commercially viable products requires a tremendous investment of development.

Alice & Bob’s innovative approach to qubit design positions the company to effectively tackle these challenges, offering a promising path toward practical quantum computing solutions.

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Future Outlook

With this hefty funding, Alice & Bob is now ready to make landmark strides in quantum computing. In this context, the strategic focus of the company’s primary work in R&D, infrastructure building, and team building determines a clear intent on the way forward to surpass the current state of affairs. In progress, Alice & Bob looks forward to playing a leading role in ushering