French quantum computing company Pasqal has announced plans to enter a new phase of growth with expected financing of at least €340 million, a move designed to accelerate the company’s development ahead of a planned public listing.
The company disclosed in an official statement published in its newsroom that the financing includes €170 million raised through a private funding round and an additional €170 million in committed convertible financing linked to a planned business combination.
The transaction is part of Pasqal’s strategy to pursue a dual listing on the Nasdaq Stock Market and Euronext Paris, with an initial Nasdaq listing targeted for 2026 and a potential Euronext listing to follow in 2026 or 2027.
The planned listing is expected to occur through a business combination with Bleichroeder Acquisition Corp. II, a special purpose acquisition company (SPAC). The deal would value Pasqal at approximately $2 billion, reflecting growing investor interest in the emerging quantum computing industry.
According to the company’s announcement, the newly secured capital will primarily support research and development, expansion of industrial capabilities, and increased production capacity at Pasqal’s facilities in Palaiseau. The company also plans to double its production capacity within the next 24 months and expand its workforce by about 20%, adding around 50 new employees over the next 18 months.
Founded in 2019 and co-founded by Nobel Prize–winning physicist Alain Aspect, Pasqal develops neutral-atom quantum computing systems designed to solve complex problems in fields such as optimization, materials science, energy, and artificial intelligence. The company has already deployed quantum processors across multiple continents and works with industrial and research partners including Thales Group, BMW Group, and Capgemini.
With quantum technologies moving from laboratory research to industrial deployment, Pasqal says the new financing will help position the company as a global leader in scalable quantum computing systems.
Image: Pasqal
