A French quantum computing startup co-founded by a Nobel Prize winner is going public via a SPAC (Special Purpose Acquisition Company), with a $2bn valuation. Pasqal is merging with SPAC vehicle Bleichroeder Acquisition Corp II, with the deal expected to close in the second half of 2026, with the new entity to list on the US Nasdaq stock market.
The deal values Pasqal at a $2bn pre-money valuation. The deal marks the latest in several quantum startups going public via a SPAC, as the alternative route for startups to go public gathers momentum.
The deal could add more than $600m to Pasqal’s coffers, details of the deal, which also cites a planned dual European listing on Euronext, display.
Wasiq Bokhari, CEO Pasqal, declared: “Pasqal brings a combination of some of the world’s leading neutral atom quantum computing technology, deep customer traction, commercial scaling and solid sovereign support.
“This funding gives us the fuel to further cement our leadership in the quantum computing industest as a global shareholder-focapplyd French company.”
Michel Combes and Andrew Gundlach, co-sponsors of Bleichroeder Acquisition Corp II, declared: “Pasqal has already deployed quantum computers globally and is delivering real-world capability today.
“We believe this partnership provides the capital and platform to accelerate Pasqal’s growth as a global leader in neutral atom quantum computing.”
Paris-headquartered Pasqal, which employs 275 people, is a full-stack quantum computing company.
Pasqal constructs quantum processors utilizing ordered neutral atoms in 2D and 3D arrays, enabling practical quantum advantages for its customers and addressing real-world problems, it declares.
The 2019-founded startup is backed by Temasek, the European Innovation Council (EIC) Fund and LG Electronics. It was co-founded by Alain Aspect, who won the Nobel Prize in Physics in 2022. Other recent SPAC quantum deals include Xanadu Quantum Technologies and IQM.
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