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C12 Secures €18 million funding For Advancing Universal Quantum Computing


C12, a French spin-off from the Physics Laboratory of the École Normale Supérieure in Paris, has secured €18M in its second funding round to develop a carbon nanotube-based universal quantum computer.

This new financing will enable C12 to expedite its R&D efforts to achieve the first high-fidelity quantum operation on two distant spin qubits connected by a communication bus.

C12 has also been selected for the Proqcima program, initiated in March 2024 by the French Ministry of the Armed Forces and the French Secretary General for Investment. The program aims to produce two French-designed prototypes of universal quantum computers by 2032.

Leading investors such as Varsity Capital, EIC Fund, and Verve Ventures joined the round, along with historical investors including 360 Capital, Bpifrance through its Digital Venture fund, and BNP Paribas Développement.

Matthieu Desjardins, CTO and co-founder of C12, commented: “Our goal is to demonstrate long-distance entanglement between 2 qubits. This entanglement is at the heart of the quantum leap that will one day allow us to compute in a few seconds what today takes several years. This long-distance 2Q gate is therefore a major step forward in quantum technology.”

Didier Valet, Founding Partner at Varsity, commented: “We are proud at Varsity to lead the new C12 round
with a clear objective to build a large-scale, fault-tolerant quantum computer and to strengthen France’s position as a leading force in quantum space.”

Pierre Desjardins, CEO and cofounder at C12, said: “I am very happy to have prestigious investors on board to speed up our development. I am proud that C12 can count on an extraordinary team. Our ambition is the same as on day one: to become one of the quantum computing leaders of tomorrow.”

In 2021, C12 raised $10M and demonstrated both theoretically and empirically that its architecture—closely resembling a single spin in a vacuum—mitigates noise affecting qubit quality. In October 2023, the company inaugurated the Quantum Fab, a unique first production line for quantum processors in the heart of Paris. This facility, equipped with several production workshops including a cleanroom for semiconductor chips, will enable C12 to produce its initial quantum products.

“Much like silicon laid the foundation for modern digital computing in the 1950s, we believe
carbon holds the key to unleashing the extraordinary potential of quantum computing. We are immensely proud of C12’s pioneering achievements to date and are committed to support their
efforts to turn quantum computing into a tangible reality.” said Nader Sabbaghian, Partner at
360 Capital.

“We are delighted to renew our support for C12, a company whose potential we are convinced
of. Since we first invested in 2021, this startup has continuously enhanced its value proposition,
unveiling last October their Quantum Fab, the first production line for quantum processors in
central Paris. This round of new investors will enable it to accelerate its development” stated
Clémentine Cazenave, Senior Investor at Bpifrance.

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