Quantum computing company Alice & Bob have raised €100 million ($104 million) in a Series B funding round. The funds will serve to accelerate the company’s development of a scalable fault-tolerant quantum computer, targeted for 2030. Alice & Bob founders Théau Peronnin (left) and Raphael Lescanne. Courtesy of Alice & Bob. Alice & Bob will use the funding to enhance the performance of its system, improve error correction, and create its first error-corrected logical qubit. Nearly half of the funds will be used to finance the ongoing construction of a state-of-the-art lab and production facility, and additional funds will be used to further expand the team, which has doubled in the past year, the company said. The company’s proprietary “cat qubits” are based on coherent states of light — specific patterns of electromagnetic waves in a superconducting cavity. According to the company, the photon parity and resilience against photon loss of these qubits helps to reduce errors during computation. Adding photons significantly decreases bit-flip errors while slightly increasing phase-flip errors. This overall reduction in errors means that fewer physical qubits will be needed for fault-tolerant computation.