C12 Quantum Electronics, a startup that manufactures quantum processors to speed up complex computing tasks and improve classical supercomputers, has raised $10 million (approximately €8.2 million) in a seed round led by 360 Capital, alongside Bpifrance (Digital Venture Fund), Airbus Ventures, BNP Paribas Développement, and business angels including Octave Klaba (founder of OVHCloud).
The company was founded in January 2020 by Matthieu and Pierre Desjardins and renowned scientists Takis Kontos (Research Director at CNRS), Matthieu Delbecq, and Jérémie Viennot. C12 Quantum Electronics' innovation is to use only carbon nanotubes as the basic elements of its quantum processor, which can be adapted to many industries such as logistics and healthcare.
The objective of this funding is to continue product development, expand the team with technological profiles (physicists, microwave engineers, developers, etc.), and set up a high-tech pilot production line. The company aims to produce a quantum processor that can revolutionize the computing industry.
360 Capital is a French venture capital firm that invests in early-stage technology companies. Bpifrance is a French public investment bank that supports French companies in their growth and international expansion. Airbus Ventures is the venture capital arm of Airbus, the European multinational aerospace corporation. BNP Paribas Développement is the investment arm of BNP Paribas, a French multinational bank.
C12 Quantum Electronics' quantum processor technology has the potential to transform the computing industry, and this funding round will help the company to further develop this technology and bring it to market.