News
Mar 9, 2026
News
Startups
Europe
Pasqal Secures €340 Million Funding and Plans Dual Listing to Scale Quantum Computing
NewDecoded
3 min read
Image by Pascal
Pasqal, the French pioneer in neutral atom quantum computing, has announced a significant financial milestone with expected funding of at least €340 million. This capital injection comes through a business combination with Bleichroeder Acquisition Corp. II, a transaction that values the company at $2 billion. The announcement represents a defining moment for the European deep tech sector as the firm prepares for its debut on public markets. The deal structure includes a €170 million private funding round alongside a committed €170 million convertible financing arrangement. This strategic move serves as a precursor to a planned dual listing on the Nasdaq Stock Market and Euronext Paris. By listing in both New York and Paris, Pasqal aims to bridge the gap between American capital and French technological roots.
A primary focus of this investment is the expansion of industrial capabilities within France. The company expects to double its production capacity over the next 24 months and increase its workforce by 20 percent. These resources will directly support the development of a fault tolerant quantum computer, which is a critical target for the end of the decade.
The funding round attracted a diverse group of global strategic partners including LG Electronics, Quanta Computer, and Saudi Aramco Entrepreneurship Ventures. Existing institutional backers like Bpifrance and the European Innovation Council Fund have also reaffirmed their long term commitment. This broad support highlights the growing confidence in neutral atom technology as a scalable path for industrial applications.
Despite its global ambitions, Pasqal remains firmly anchored in its home territory. The company will continue to operate as a French legal entity with its headquarters in Palaiseau. Future governance will include the appointment of a French non-executive Chair to ensure the firm remains aligned with national strategic interests while expanding its international footprint.
This move marks the transition of quantum technology from experimental research to industrial scale on a global stage. By pursuing a dual listing, Pasqal is performing a delicate balancing act between accessing deep American capital markets and maintaining European technological sovereignty. The timing is critical as it follows similar public moves by European rival IQM, signaling a high-stakes race to dominate the emerging quantum hardware market. For the industry, this validates the neutral atom approach as a commercially viable path toward fault tolerant computing, backed by industrial giants like CMA CGM and LG Electronics.
Related Articles
