With the rapid development of quantum technology, more and more quantum startups are emerging globally. Recently, c12 Quantum Electronics, a French quantum computing startup focusing on carbon nanotube qubits, has just announced a new round of financing to accelerate its technology development and build a pilot production line. This highlights the promising prospect and growing investor confidence in this emerging field. In this article, we will take a close look at c12, its latest fundraising news, and plans to establish trial production lines. The development trajectory of c12 represents an important direction in the quantum race.
c12 Has Raised $10 Million in Seed Funding to Build Pilot Production Lines
In early June 2022, the French quantum computing startup c12 Quantum Electronics announced it had secured $10 million in seed funding. The round was led by 360 Capital, with participation from Bpifrance, the investment arm of Airbus, and several other French institutional investors. Founded in 2020 and based in Paris, c12 is developing quantum processors based on carbon nanotube qubits. This emerging qubit modality features superior coherence times and performance potential. c12 aims to use its devices to provide a range of quantum accelerators integrated with classical supercomputers for specialized applications. The newly raised capital will help c12 expand its team, set up a pilot production line for its quantum tech, and further its technology roadmap.
c12’s Funding Underscores the Promise of Carbon Nanotube Qubits
c12’s sizable seed round highlights the promising potential of carbon nanotubes as a qubit implementation. Carbon nanotubes are tiny cylinders of graphene that exhibit useful electronic and optical properties. Their small size, ability to operate at room temperature, and compatibility with modern semiconductor manufacturing processes make them an exciting avenue for scalable qubits. Companies like c12 leverage expertise in material science and nanofabrication to develop carbon nanotube-based qubits and control electronics. While still at an early stage, this approach has shown encouraging progress in prototype devices. The funding and vote of confidence in c12 indicates that investors see long-term value in backing a diversity of qubit modalities, including emerging options like carbon nanotubes.
Investor Interest Growing in Quantum Computing Hardware Startups
c12’s seed round comes on the heels of other notable hardware startup fundraises in 2021, highlighting growing investor appetite in this space. For example, Pasqal, a French startup using neutral atoms, raised €25 million to accelerate its roadmap for neutral atom quantum processors. QuEra Computing, a startup focused on developing fault-tolerant logical qubits using trapped ions, raised $17 million. Large strategic investments have also flowed to the industry’s leading startups, like ColdQuanta and IonQ. Establishing production capacity and scaling qubit count are critical milestones on the quantum computing roadmap. By supporting companies like c12, investors are betting on the future potential of emerging qubit modalities andtheir role in the quantum ecosystem.
Startups Establishing Pilot Production Critical for Commercialization
A key use of proceeds for c12’s latest raise is establishing a pilot production line for its qubit devices. Building out manufacturing expertise and capacity is essential as quantum hardware companies mature from pure R&D to producing commercial products. Having passed early technical milestones, many startups are now at the stage where they need capital to scale up fabrication, testing, and assembly processes. Establishing these beachhead production lines will generate invaluable learning, capabilities, and prototypes to attract customers and justify further expansion. Just as classical computing startups evolve from custom fabrication to volume manufacturing, expect more quantum startups to follow this trajectory supported by investor capital.
c12’s notable seed funding round highlights rising investor interest in emerging quantum computing hardware companies, especially those innovating on qubit modalities beyond the initial few options. Supporting the buildout of pilot production infrastructure will be critical to help ambitious startups like c12 progress on their technology roadmaps and commercialization plans. As hardware performance ramps up, investors are making big bets in hopes of claiming stakes in future leaders of the quantum computing industry.