🏆 Deal of the Week · CW 4/2023
PASQAL raised EUR 100 million in a Series B round; the post-money valuation was not disclosed. The round closed in January 2023 and was supported by a syndicate of seven investors spanning public, corporate, and institutional capital. No single lead investor was identified in the verified deal data.
PASQAL — key deal facts
| Company | PASQAL |
| Founded | 2019 |
| Headquarters | Palaiseau, France |
| Amount raised | EUR 100M |
| Valuation | Valuation Remains Undisclosed |
| Round | Series B |
| Investors | Bpifrance (https://www.bpifrance.com/) Daphni (https://www.daphni.com/) EIC Fund (https://eic.ec.europa.eu/investment-opportunities_en) Eni Next (https://www.eni.com/eninext/en-US/home.html) Quantonation (https://www.quantonation.com/) Saudi Aramco Entrepreneurship Ventures (https://aramcoventures.com/) Temasek Holdings (https://www.temasek.com.sg/en/index) |
| Sectors | Information Technology |
Who invested in PASQAL?
The round attracted Bpifrance, Daphni, EIC Fund, Eni Next, Quantonation, Saudi Aramco Entrepreneurship Ventures, and Temasek Holdings. The investor mix is notable for its geographic breadth, combining French public backers with Gulf energy capital, a Singapore sovereign wealth fund, and European institutional venture support. The presence of Eni Next and Saudi Aramco Entrepreneurship Ventures signals early strategic interest from the energy sector, where quantum simulation has near-term application potential.
What does PASQAL do?
PASQAL is a quantum computing company founded in 2019 as a spinoff from Institut d'Optique in France. The company develops neutral-atom quantum processors and hybrid quantum-classical solvers targeting industrial optimization, simulation, and AI workloads. Its product portfolio includes commercial-grade quantum processing units alongside the open-source software platforms Pulser and Pulser Studio. PASQAL is headquartered in Palaiseau, France, and was co-founded by quantum physics researchers Thierry Lahaye, Antoine Browaeys, Georges-Olivier Reymond, and Christophe Jurczak, with Nobel laureate Alain Aspect having led the foundational research.
PASQAL valuation & multiples
No verified multiples analysis was provided for this deal. Because PASQAL's post-money valuation remains undisclosed, EV/Sales and EV/EBITDA ranges cannot be derived from the verified figures available. For sector-level benchmarks applicable to deep-tech and quantum computing ventures, see the relevant Information Technology sector multiples pages on DealMatrix.
Explore the benchmarks: Series B.
Frequently asked questions
How much did PASQAL raise in its Series B?
PASQAL raised EUR 100 million in its Series B round, announced in January 2023.
What is PASQAL's valuation?
PASQAL's post-money valuation was not disclosed in connection with this Series B round.
Who invested in PASQAL?
The Series B was backed by Bpifrance, Daphni, EIC Fund, Eni Next, Quantonation, Saudi Aramco Entrepreneurship Ventures, and Temasek Holdings.
When was PASQAL founded and where is it based?
PASQAL was founded in 2019 and is headquartered in Palaiseau, France.
Source: original announcement — read the full report.