C12, a French quantum computing startup originating from the Physics Laboratory of the École Normale Supérieure, has successfully secured €18M ($19.341 million USD) in its latest funding round. This investment round, led by Varsity Capital along with EIC Fund and Verve Ventures, aims to propel C12’s development of carbon nanotube-based universal quantum computers. The funding will specifically support their research and development efforts towards achieving high-fidelity quantum operations between two distant spin qubits interconnected by a communication bus.
Additionally, C12 has been selected for France’s Proqcima program, launched in March 2024 by the Ministry of the Armed Forces and the French Secretary General for Investment. The initiative targets the creation of two French-designed prototypes of universal quantum computers by 2032.
Leading investors such as Varsity Capital, EIC Fund, and Verve Ventures, alongside previous supporters like 360 Capital, Bpifrance Digital Venture fund, and BNP Paribas Développement, have contributed to this round. Matthieu Desjardins, CTO of C12, highlighted their goal to demonstrate long-distance entanglement between qubits, a pivotal advancement in quantum technology.
Additional information about this funding can be seen here.
June 19, 2024