Orrick advised PASQAL on its €100 million Series B funding

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Orrick has advised PASQAL, a leader in neutral atoms quantum computing, on its €100 million Series B funding.

PASQAL was co-founded in 2019, out of the Institut d’Optique, by Georges-Olivier Reymond, Christophe Jurczak, Professor Dr. Alain Aspect, Nobel Prize Laureate Physics, 2022, Dr. Antoine Browaeys, and Dr. Thierry Lahaye. The start-up develops quantum processors using laser-manipulated neutral atoms.

After a €25M Series A funding in 2021, this round was led by Temasek, followed by the European Innovation Council (EIC) Fund, Wa'ed Ventures and Bpifrance's large venture fund, as well as historical investors Quantonation, Bpifrance's Defence Innovation fund, Daphni and Eni Next.

The funding will accelerate the company's production, research and development, recruitment and international expansion efforts according to Georges-Olivier Reymond, CEO and founder of PASQAL, who said " We are on a clear path to deliver a quantum computer capable of unlocking commercial advantage for our customers, and this latest investment round will help us reach this goal by 2024”.

Orrick advised PASQAL on this transaction with a team led by Yves Lepage, partner (Energy & Infrastructure), and Olivier Jouffroy, partner (M&A Private equity), including:

• Julien Beloeil, senior associate, Coline Berthe de Pommery and Sarah Rachedi, associates for the corporate aspects,
• Carine Mou Si Yan, partner, and Diana Harapu, associate for the Banking & Finance aspects,
• Julia Apostle, partner, and Rami Kawkabani, senior associate, for IP, IT and Data,
• Jessie Gaston, partner, and Maiten Le Brishoual, senior associate, for tax matters, and
• Nadège Owen, partner, and Chek-Lhy Luu, senior associate, for the employment law aspects.