Pasqal banked €95M ($100M+) in a Series B round led by Temasek. The capital injection includes participation from the European Innovation Council Fund, Wa’ed Ventures, and BPI France. The deal marks one of the largest private funding events in the European quantum sector to date.
The Paris-based company builds quantum processors using "neutral atom" technology. Unlike competitors using superconducting circuits, Pasqal uses optical tweezers—lasers—to manipulate atoms into 2D and 3D configurations. This approach allows the hardware to operate at room temperature and aims to reach a 1,000-qubit threshold by 2024, a milestone for achieving practical industrial utility.
The company is already collaborating with corporate partners including TotalEnergies, Airbus, and BMW to apply its computational power to complex logistics and chemistry simulations. This raise follows a period of intensifying competition in the deeptech space, where European firms are increasingly securing "megarounds" to compete with US-based incumbents in the race for quantum advantage.
Data suggests a maturing ecosystem where hardware startups are moving beyond academic proof-of-concepts toward commercial scale. Pasqal’s ability to attract international sovereign wealth and institutional backers signals that European quantum infrastructure is now viewed as a critical strategic asset rather than a speculative laboratory venture.
Originally reported by Sifted.