UGGC Avocats supported BPI France and Future French Champions in raising €100 million for start-up Alice & Bob

French startup Alice & Bob has announced a €100 million round of funding from Future French Champions (FFC), AVP (Axa Venture Partners), Bpifrance, as well as public and private investors. Founded in 2020, Alice & Bob develops quantum computers based on chat qubit technology, overcoming the challenges of bit-flip errors and offering a more reliable and efficient solution for quantum computing.

With this round of funding, Alice & Bob aims to accelerate the construction of its first error-tolerant quantum computer, by perfecting its technology and expanding its production facilities. This marks a key step in the company’s ambition to make quantum computing truly useful by 2030.

Supported by UGGC Avocats, the Bpifrance fund’s mission is to support innovative French companies by providing them with strategic financing to accelerate their development, particularly in disruptive technology sectors.

Future French Champions is the partnership between QIA and Bpifrance, initiated in 2014. Its shareholders are QIA and Bpifrance. QIA is the sovereign wealth fund of the State of Qatar and was founded in 2005 to invest and manage the state’s reserve funds. QIA is one of the world’s largest and most active sovereign wealth funds.

Legal advice

The UGGC Avocats team that supported Bpifrance in this fundraising was made up of partner Charles-Emmanuel Prieur, associate Bernard de la Vallée Poussin, associate Pauline Somon and associate Raphael Colin.