Pasqal has been awarded more than € 7M in funding from the European Commission EIC Accelerator program. Over 4200 applications were submitted to this last funding round of 2020, but only 38 projects were selected.
Funding will support the development of high fidelity, industry grade, quantum processors and the deployment of their computational power on the cloud. Pasqal will develop a first generation of multi-100 qubit processors, out of the neutral atom technology, as well as a full software stack including application-specific libraries.
Georges-Olivier Reymond, CEO of Pasqal: “We feel very proud to have been selected through such an ultra-competitive instrument, that concludes an exceptional year of success for our young company. It is the vivid evidence that Europe is seriously engaged in the support to its Deep Tech Innovators. In the race for building the world’s first commercial quantum computers, this funding will speed up our developments and will ensure we remain in the lead. Pasqal will bring Europe to the forefront of the quantum computing industry.”
The project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement n° 968614.