Paris-based quantum computing scale-up Pasqal is set to begin trading on Nasdaq today after completing its business combination with Bleichroeder Acquisition Corp. II – marking the DeepTech company’s transition from a venture-backed scale-up to a publicly listed business.
The transaction leaves the company with approximately €309 million ($360 million) in cash at closing, which they plan to use to accelerate the deployment of its quantum computing technology, expand manufacturing capacity and advance its roadmap towards fault-tolerant quantum computing.
The listing follows Bleichroeder shareholders’ approval of the transaction on 25 August 2026. It completes a process first announced in March, when the proposed deal valued Pasqal at €1.7 billion ($2 billion) pre-money.
“Today is not a finish line; it is an acceleration point,” says Wasiq Bokhari, Chief Executive Officer of Pasqal. “Pasqal was built to take neutral-atom quantum computing from foundational science to industrial-scale deployment. We have deployed quantum systems in real operating environments, connected our processors to the computing infrastructure customers already use and established a roadmap built on a single hardware platform that delivers state-of-the-art analog quantum computing today and is designed to enable industry-leading fault-tolerant quantum computing in the future.”
Pasqal’s public outing comes amid substantial capital activity across Europe’s quantum computing sector in 2026.
EU-Startups has reported roughly €1.05 billion in announced financing across quantum computing and closely related quantum-enabling companies this year, including
EU-Startups previously covered Pasqal’s €100 million funding round in 2023 and, in February 2026, identified the company as part of the portfolio of Paris-based specialist investor Quantonation, which closed a €220 million quantum and deep-physics fund this year.
Against that backdrop, Pasqal’s move to the public markets adds another sizeable source of capital to a European quantum sector increasingly financing manufacturing, computing infrastructure and the development of fault-tolerant systems.
“Our systems operate in standard data centre environments and are built to scale with enterprise workloads. As a public company, we will have a stronger platform to move faster, serve customers around the world and build enduring value for shareholders,” adds Wasiq.
Founded in 2019, Pasqal develops quantum computers based on neutral-atom technology. The company was co-founded by Georges-Olivier Reymond, Christophe Jurczak, Antoine Browaeys, Thierry Lahaye and Alain Aspect, the French physicist who was awarded the Nobel Prize in Physics in 2022.
The company’s technology uses arrays of neutral atoms manipulated with lasers to perform quantum calculations. Pasqal is pursuing a platform capable of supporting analogue quantum computing applications today while developing towards fault-tolerant quantum systems, which are designed to detect and correct errors that currently limit the capabilities of quantum computers.
Longstanding backers include French public investment bank Bpifrance, which will also be represented on the newly formed nine-member board of directors by Nicolas Berdou. The board will be chaired in a non-executive role by co-founder Alain Aspect.
The company currently has seven quantum processing units, or QPUs, deployed and another three in production. Its systems are accessible through the cloud and are being used across more than 25 commercial and research applications, including projects in energy, financial services and materials science.
Pasqal plans to direct part of its new capital towards manufacturing and deploying more QPUs, including expanding its production capabilities in Palaiseau, where its main manufacturing facility is located.
Other priorities include developing its cloud and software platform, integrating its technology further with classical high-performance computing infrastructure and growing its commercial operations internationally.
“This $360 million gives us significant firepower and several years of runway to pursue our technological development. This positions us very well compared to other quantum computing companies,” says Stéphane Rougeot, Chief Financial Officer of Pasqal.
While Pasqal has chosen Nasdaq for its first public listing, it is keeping its headquarters in France and has also indicated plans to pursue a dual listing on Euronext Paris, adding another European dimension to its public-market ambitions.
Pasqal Holding SA’s ordinary shares and warrants are expected to trade under PSQL and PSQLW, respectively.
Source: EU-Startups
