Paris-Based Startup C12 Quantum Electronics Raises $10M Led by 360 Capital
PARIS, June 9, 2021 -- C12 Quantum Electronics announces the closing of a $10 million seed round comprising funds from 360 Capital, Bpifrance (Digital Venture Fund), Airbus Ventures, BNP Paribas Développement, and Octave Klaba (OVHcloud), with additional grants from Bpifrance and the Ile-de-France Region.
Founded in January 2020 by Matthieu and Pierre Desjardins, alongside scientists - Takis Kontos, a Research Director at CNRS, Matthieu Delbecq and Jérémie Viennot - C12 Quantum Electronics has crystallized a team of the world’s most accomplished experts in quantum electronics and carbon nanotube science to materialize their vision of a revolutionary quantum computing processor.
“This round will help accelerate the development of the company’s unique quantum computing technology. The groundbreaking innovation of C12 Quantum Electronics uniquely uses carbon nanotubes as the fundamental building blocks of its quantum processor. The company’s high-purity material minimizes errors and radically improves performance. Our quantum processor will have an unlimited range of applications, from optimizing transportation and logistics to transforming healthcare,” note the company’s twin founders Matthieu and Pierre Desjardins.
This funding will be used to expand its world-class team with cutting-edge tech developers and engineers, as well as establish a high-tech pilot production line, designed to include nanotube growth facilities, nano-assembly equipment, quantum measurement hardware, and more. Building upon the achievement of these first milestones, the startup aims to grow a range of quantum accelerators ready to be integrated into classical supercomputers, as well as design application-specific processors within the next five years, for example for optimization and quantum chemistry needs.
C12 Quantum Electronics’ Unique Technology
At C12 Quantum Electronics, a qubit, the fundamental functional unit of a quantum computer, is built from an ultra-pure carbon nanotube (the vertical line in the image), suspended above a silicon chip containing control electrodes and a quantum communication bus (the horizontal lines in the image). C12 Quantum Electronics’ carbon nanotubes are uniquely composed of isotopically purified 12C carbon atoms, which have zero nuclear spin, thus minimizing qubit decoherence
About C12 Quantum Electronics
The start-up C12 Quantum Electronics develops reliable quantum processors to speed up highly complex computing tasks, thanks to a unique know-how developed at CNRS and the Physics Laboratory of the Ecole Normale Supérieure in Paris. The company is co-incubated at Agoranov and at PC'up of the ESPCI. To learn more about C12 Quantum Electronics, visit: www.c12qe.com
About 360 Capital
360 Capital is a Venture Capital firm investing in innovative deep-tech & digital enterprises across Europe. The firm has a 20-year track record of supporting talented tech entrepreneurs in developing ambitious & disruptive companies in a variety of sectors. Led by a diverse, and experienced team of professionals located in Paris and Milan, 360 Capital has over €400M of assets under management and an active portfolio of more than 50 companies. www.360cap.vc
About Bpifrance and the Digital Venture fund
Bpifrance's equity investments are carried out by Bpifrance Investissement. Bpifrance finances companies - at every stage of their development - in credit, collateral and equity. Bpifrance supports them in their innovation projects and internationally. Bpifrance also ensures their export activity through a wide range of products. Consulting, university, networking and acceleration programs for start-ups, SMEs and ETIs are also part of the offer proposed to entrepreneurs. Thanks to Bpifrance and its 49 regional offices, entrepreneurs benefit from a close, unique and efficient contact to help them face their challenges.
Bpifrance Digital Venture is the VC team within Bpifrance, dedicated to digital and tech companies aiming to become global leaders on their market. It focuses on Seed and Series A/B stages. With €700 million under management, the team backed 90+ companies and had 18 exits since 2011.
About Airbus Ventures
Headquartered in Silicon Valley, with offices in Toulouse and Tokyo, Airbus Ventures is a fast-moving, early-stage venture capital company that independently funds and supports startups impacting the aerospace industry. Airbus Ventures has helped aspiring innovators reach new dimensions of achievement since 2015. To learn more, visit: https://airbusventures.vc.
About BNP Paribas Développement
BNP Paribas Développement, a BNP Paribas Group subsidiary founded in 1988, invests its own capital directly in promising small and medium-sized enterprises and mid-cap companies. As a minority shareholder in these target companies, BNP Paribas Développement seeks to promote their growth and ensure their longer-term prosperity by facilitating ownership transfer.
In 2016, BNP Paribas Développement set up the WAI Venture Fund, which specialises in investing in innovation-oriented companies, from the provision of seed capital through all subsequent funding rounds, with the aim of supporting the growth of high-potential startups. www.bnpparibasdeveloppement.com
Source: C12 Quantum Electronics