Pasqal lists on Nasdaq with €309M
French quantum computing company Pasqal has begun trading on Nasdaq after a merger, securing €309 million in cash to fund its expansion and technology
Pasqal, a Paris-based quantum computing scale-up, started trading on Nasdaq on 26 August 2026. The company completed a business combination with Bleichroeder Acquisition Corp. II, leaving it with approximately €309 million ($360 million) in cash.
Chief Executive Officer Wasiq Bokhari framed the listing as a strategic acceleration. "Pasqal was built to take neutral-atom quantum computing from foundational science to industrial-scale deployment," he said. The company plans to use the new capital to speed up technology deployment, expand manufacturing, and advance its roadmap toward fault-tolerant quantum computing.
The deal, first announced in March 2026, valued Pasqal at €1.7 billion pre-money. It was approved by Bleichroeder shareholders on 25 August.
European Quantum Funding Surge
Pasqal's public debut occurs during a year of significant capital activity in Europe's quantum sector. According to EU-Startups, roughly €1.05 billion in financing has been announced across quantum computing and related companies in 2026. The publication listed several major deals.
| Company | Country | Amount (€ million) |
|---|---|---|
| Oxford Quantum Circuits | UK | 301 |
| QuantWare | Netherlands | 152 |
| IQM Quantum Computers | Finland | 127 |
| Quobly | France | 115 |
| ColibriTD | France | 4 |
| Alice & Bob | France/US | 3.4 |
Against this backdrop, Pasqal's move adds a sizable new source of public capital to the sector. The company is part of the portfolio of specialist investor Quantonation, which closed a €220 million fund this year.
Technology and Deployment
Founded in 2019, Pasqal develops quantum computers using neutral-atom technology, a field pioneered by its Nobel laureate co-founder Alain Aspect. The technology uses arrays of neutral atoms manipulated by lasers to perform calculations.
The company is pursuing a single hardware platform designed to deliver analog quantum computing now and fault-tolerant systems in the future. Fault-tolerant systems aim to detect and correct the errors that currently limit quantum computers.
Pasqal currently has seven quantum processing units (QPUs) deployed, with three more in production. Its systems are cloud-accessible and are used in over 25 commercial and research applications, spanning energy, finance, and materials science.
Capital Allocation and Governance
Chief Financial Officer Stéphane Rougeot stated the $360 million provides "significant firepower and several years of runway" for technological development. He said this positions the company well against competitors.
Funds will be directed toward manufacturing more QPUs, including expanding its main facility in Palaiseau. Other priorities are developing its cloud software, integrating with classical high-performance computing, and growing international commercial operations.
The new nine-member board will be chaired non-executively by co-founder Alain Aspect. Nicolas Berdou of longstanding backer Bpifrance will also have a seat. While listed on Nasdaq, Pasqal will keep its French headquarters and plans a future dual listing on Euronext Paris. The company's ordinary shares and warrants will trade under the symbols PSQL and PSQLW.
