Paris-Based Startup C12 Quantum Electronics Raises $10M, Led by 360 Capital

PARIS, June 8, 2021 /PRNewswire/ -- C12 Quantum Electronics today announces the closing of a $10 million seed round comprising funds from 360 Capital, Bpifrance (Digital Venture Fund), Airbus Ventures, BNP Paribas Développement, and Octave Klaba (OVHcloud), with additional grants from Bpifrance and the Ile-de-France Region.

Founded in January 2020 by Matthieu and Pierre Desjardins, alongside scientists - Takis Kontos, Matthieu Delbecq and Jérémie Viennot - C12 Quantum Electronics has crystallized a team of the world's most accomplished experts in quantum electronics and carbon nanotube science to materialize their vision of a revolutionary quantum computing processor.

"This round will help accelerate the development of the company's unique quantum computing technology. The groundbreaking innovation of C12 Quantum Electronics uniquely uses carbon nanotubes as the fundamental building blocks of its quantum processor. The company's high-purity material minimizes errors and radically improves performance. Our quantum processor will have an unlimited range of applications, from optimizing transportation and logistics to transforming healthcare," note the company's twin founders Matthieu and Pierre Desjardins.

This funding will be used to expand its world-class team with cutting-edge tech developers and engineers, as well as establish a high-tech pilot production line. Building upon the achievement of these first milestones, the startup aims to grow a range of quantum accelerators ready to be integrated into classical supercomputers, as well as design application-specific processors within the next five years, for example for optimization and quantum chemistry needs.

C12 Quantum Electronics' Unique Technology

At C12 Quantum Electronics, a qubit, the fundamental functional unit of a quantum computer, is built from an ultra-pure carbon nanotube, suspended above a silicon chip containing control electrodes and a quantum communication bus. C12 Quantum Electronics' carbon nanotubes are uniquely composed of isotopically purified 12C carbon atoms, which have zero nuclear spin, thus minimizing qubit decoherence.

"The quantum industry is still looking for the 'ideal qubit,' and there is a notable consensus across the scientific community that material science breakthroughs will be needed to build a scalable quantum computer," explained Matthieu and Pierre Desjardins. "Carbon nanotubes will help scale quantum computing, in the vein of what silicon meant for classical computing. The continuing evolution of materials will help cultivate the emergence of this new industry," they concluded.

Praise for C12 Quantum Electronics

"We believe C12 Quantum Electronics has a real chance to overcome the significant productization challenges that have held back the revolutionary promise of Quantum Computing," Nader Sabbaghian, General Partner of 360 Capital, www.360cap.vc.

"Airbus Ventures is inspired by the C12 Quantum Electronics team's extraordinary innovations. Our investments in their unique technology and in the field they are helping to pioneer with new materials holds wide and immense potential across the aerospace, sustainable aviation, and adjacent industry sectors. We expect even greater achievements ahead for Matthieu, Pierre and the team," comments Airbus Ventures Partner Mathieu Costes, https://airbusventures.vc.

"The quantum computer will answer some of the most challenging questions mankind is facing and that the binary computer cannot answer today. In this race for quantum innovation, we must continue to explore new ideas. C12 Quantum Electronics, a European startup, offers a different & very promising approach that needs to be explored and developed," Octave Klaba, Founder of OVHcloud.

"The quantum computer will be a major revolution and we are confident that C12 Quantum Electronics has unique strengths to play a leading role in it. We particularly appreciate the ambition and the quality of the founders as well as their ability to bring together key players," BNP Paribas Développement, www.bnpparibasdeveloppement.com.

"We invested in C12 Quantum Electronics because we believe that the path to scalable QC lies in materials science breakthrough. We have been impressed by the team's expertise, their ability to solve complex problems, and their keen understanding of what it takes to turn innovation into a promising business," Olivier Rameil, Investment Director within the Digital Venture fund of Bpifrance.

About C12 Quantum Electronics

The start-up C12 Quantum Electronics develops reliable quantum processors to speed up highly complex computing tasks, thanks to a unique know-how developed at CNRS and the Physics Laboratory of the Ecole Normale Supérieure in Paris. To learn more about C12 Quantum Electronics, visit: www.c12qe.com

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SOURCE C12 Quantum Electronics

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