France's quantum computing start-up Pasqal raised $108 million from regional and international investors to fund its platform, which aims to deliver major commercial advantages over classical computers by next year.
The Series B funding round was led by Singapore's state-owned investor Temasek. New investors include Saudi Aramco's venture capital arm Wa’ed Ventures, European Innovation Council (EIC) Fund and Bpifrance's Large Venture Fund. Continuing investors include Quantonation, the Defense Innovation Fund, Daphni and Eni Next.
"Pasqal's engineers have transformed world-class fundamental research into a system that is easy to use and is expected to deliver tremendous benefit to the world," company co-founder Alain Aspect said in a statement on Tuesday.
Mr Aspect received the Nobel Prize in physics last year for experiments in quantum mechanics that laid the groundwork for quantum computing and Pasqal's technology was built on this research. Mr Aspect co-founded Pasqal in 2019 with Georges-Olivier Reymond, Antoine Browaeys, Thierry Lahaye and Christophe Jurczak. Pasqal recently sold two quantum computers to France and Germany, and announced a research collaboration with the University of Chicago, according to its website.
Quantum computing aims to overcome the limitations of classical computing and bring major processing power to solve real-world problems that could not be addressed before.
Investors are moving aggressively to increase the amount they allocate to quantum computing. Boston Consulting Group's research estimates that quantum computing will unlock new value across industries from aerospace to pharmaceuticals, creating up to $850 billion in annual value by 2040.
Pasqal will use the new funding to expand its global footprint. The company plans to open offices in the Middle East and Asia this year and grow its operations in Europe and North America, it said.
To support its growth, Pasqal also intends to double its team of 100 employees this year.
The start-up will also use the funding to accelerate the company’s research and development efforts to build a 1,000-qubit quantum computer in the short term. The number of qubits, or quantum bits, is a measure of the power of the computer.
The start-up plans to increase the production of its quantum systems for on-premise installations. It will also expand the development of proprietary algorithms for clients in key sectors including energy, chemistry, automotive, mobility, health care, finance and government, it 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,” said Mr Reymond, chief executive of Pasqal.
Pasqal's customers include Siemens, Airbus, LG Electronics, Johnson & Johnson and Thales.
The start-up is working with several Global Fortune 500 companies. Its research with Credit Agricole CIB showed that Pasqal's technology could solve complex financial optimisation problems as accurately as classical computers.
BASF, the world’s largest chemical company, is exploring how Pasqal's technology can be used to predict weather patterns, while BMW is using Pasqal's algorithms to simplify complex simulations that can be used for crash-testing and developing lighter parts and materials.
Wa'ed Ventures said its investment in Pasqal in the new funding round was in line with its strategy of backing cutting-edge technology.
"Quantum computing has the potential to solve incredibly important problems across different sector and we believe that Pasqal is well-positioned to be a leader in the industry, driving the localisation of advanced technologies in the Mena region for decades to come," it said.
Pasqal last year said it was working with the world’s leading energy players, on an initial agreement with Saudi Aramco and a collaboration for fast-tracking industrial applications with Italy's Eni.
UAE currency: the story behind the money in your pockets
UAE squad
Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.
The full list of 2020 Brit Award nominees (winners in bold):
British group
Coldplay
Foals
Bring me the Horizon
D-Block Europe
Bastille
British Female
Mabel
Freya Ridings
FKA Twigs
Charli xcx
Mahalia
British male
Harry Styles
Lewis Capaldi
Dave
Michael Kiwanuka
Stormzy
Best new artist
Aitch
Lewis Capaldi
Dave
Mabel
Sam Fender
Best song
Ed Sheeran and Justin Bieber - I Don’t Care
Mabel - Don’t Call Me Up
Calvin Harrison and Rag’n’Bone Man - Giant
Dave - Location
Mark Ronson feat. Miley Cyrus - Nothing Breaks Like A Heart
AJ Tracey - Ladbroke Grove
Lewis Capaldi - Someone you Loved
Tom Walker - Just You and I
Sam Smith and Normani - Dancing with a Stranger
Stormzy - Vossi Bop
International female
Ariana Grande
Billie Eilish
Camila Cabello
Lana Del Rey
Lizzo
International male
Bruce Springsteen
Burna Boy
Tyler, The Creator
Dermot Kennedy
Post Malone
Best album
Stormzy - Heavy is the Head
Michael Kiwanuka - Kiwanuka
Lewis Capaldi - Divinely Uninspired to a Hellish Extent
Dave - Psychodrama
Harry Styles - Fine Line
Rising star
Celeste
Joy Crookes
beabadoobee
Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
How to tell if your child is being bullied at school
Sudden change in behaviour or displays higher levels of stress or anxiety
Shows signs of depression or isolation
Ability to sleep well diminishes
Academic performance begins to deteriorate
Changes in eating habits
Struggles to concentrate
Refuses to go to school
Behaviour changes and is aggressive towards siblings
Begins to use language they do not normally use
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
'Saand Ki Aankh'
Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars
MATCH INFO
Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90' 4)
Man of the match Harry Kane
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Huroob Ezterari
Director: Ahmed Moussa
Starring: Ahmed El Sakka, Amir Karara, Ghada Adel and Moustafa Mohammed
Three stars
FIVE%20TRENDS%20THAT%20WILL%20SHAPE%20UAE%20BANKING
%3Cp%3E%E2%80%A2%20The%20digitisation%20of%20financial%20services%20will%20continue%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Managing%20and%20using%20data%20effectively%20will%20become%20a%20competitive%20advantage%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Digitisation%20will%20require%20continued%20adjustment%20of%20operating%20models%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Banks%20will%20expand%20their%20role%20in%20the%20customer%20life%20through%20ecosystems%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20The%20structure%20of%20the%20sector%20will%20change%3C%2Fp%3E%0A
World%20Food%20Day%20
%3Cp%3ECelebrated%20on%20October%2016%2C%20to%20coincide%20with%20the%20founding%20date%20of%20the%20United%20Nations%20Food%20and%20Agriculture%20Organisation%2C%20World%20Food%20Day%20aims%20to%20tackle%20issues%20such%20as%20hunger%2C%20food%20security%2C%20food%20waste%20and%20the%20environmental%20impact%20of%20food%20production.%20%0D%3C%2Fp%3E%0A
TO%20CATCH%20A%20KILLER
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EDamian%20Szifron%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Shailene%20Woodley%2C%20Ben%20Mendelsohn%2C%20Ralph%20Ineson%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
