1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program is part of the European Innovation Council (EIC), designed to support small and medium-sized enterprises (SMEs) and startups engaged in innovative projects that have the potential to disrupt markets and drive economic growth across Europe. The program primarily focuses on deep tech innovations, promoting advances in sectors such as artificial intelligence, biotechnology, advanced materials, and quantum technologies.

The EIC Accelerator combines grant funding and equity investments to provide financial support tailored to the needs of innovative startups. This blended finance model enables companies to scale their operations while retaining ownership and control. The grant component can provide funding of up to €2.5 million, intended to cover costs associated with R&D, prototyping, and market entry. Complementing this, the equity investment can reach up to €15 million until 2024 and will be capped at €10 million starting in 2025. This equity financing is crucial for businesses seeking to attract additional private investments and grow rapidly in competitive markets.

Purpose in the European DeepTech Ecosystem

The EIC Accelerator plays a pivotal role in the European deep tech and startup ecosystem by addressing the funding gap that many innovative companies face during early stages of development. By providing substantial financial resources, the program enables startups to overcome hurdles associated with market entry, technology validation, and scaling operations. This support not only fosters innovation but also enhances the competitiveness of European industries on a global scale.

Furthermore, the EIC Accelerator encourages collaboration among startups, investors, and research institutions, thereby creating a vibrant ecosystem that nurtures groundbreaking technologies. The program also emphasizes sustainability and societal impact, aligning with the broader goals of the European Green Deal and the digital transformation agenda.

Role in Scaling and Private Funding

The EIC Accelerator is instrumental in helping companies scale by providing the necessary funding and resources to bring their innovations to market. The blend of grants and equity financing enables startups to leverage public funding as a means to attract additional private investment. By demonstrating the viability and market potential of their technologies, companies can engage venture capitalists and other private investors more effectively, thereby enhancing their chances of securing further funding.

The program also offers mentorship and access to a network of experts who can provide strategic guidance, market insights, and connections to potential partners and investors. This holistic approach ensures that startups not only receive financial support but also benefit from the knowledge and experience required to navigate the complex landscape of technology commercialization.

Case Study: QUANDELA and the SEPOQC Project

QUANDELA, a French startup, emerged as a winner of the EIC Accelerator with its project titled SEPOQC, which stands for Scalable Entangled-Photon based Optical Quantum Computers. The company specializes in the development of quantum technologies, particularly focusing on the creation of optical quantum computing systems that utilize entangled photons to perform complex computations at unprecedented speeds.

Technology Background

Quantum computing represents a transformative leap in computational capabilities, leveraging the principles of quantum mechanics to process information in ways that classical computers cannot. At the heart of QUANDELA's technology is the use of entangled photons, which are pairs of particles that share a quantum state. This entanglement enables quantum bits (qubits) to exist in multiple states simultaneously, allowing quantum computers to perform parallel computations.

The SEPOQC project aims to develop a scalable architecture for optical quantum computers that can harness the unique properties of entangled photons to solve complex problems in various fields, including cryptography, materials science, and drug discovery. The project focuses on creating robust systems that can be integrated into existing technological frameworks, making quantum computing more accessible and practical for commercial applications.

QUANDELA's approach involves innovative photonic circuits and advanced algorithms designed to optimize the performance and scalability of quantum processors. By addressing the challenges of coherence time, error rates, and system integration, QUANDELA's SEPOQC project seeks to position the company as a leader in the burgeoning quantum computing landscape.

The funding awarded through the EIC Accelerator will enable QUANDELA to advance its research and development efforts, accelerate the commercialization of its quantum technologies, and ultimately contribute to the growth of the European quantum computing ecosystem. The strategic blend of grant and equity financing will also facilitate partnerships and collaborations, further enhancing the company's potential for success in a competitive market.

For more information about QUANDELA and its groundbreaking work, visit their website at quandela.com.

2 The Funding Rounds

Quandela: Funding Activity, Rounds, Investors, and Exit Events Since EIC Accelerator Win

Quandela, based in France and a recipient of the EIC Accelerator award after submitting its Step 2 proposal on June 15, 2022, has been notably active in raising capital and expanding its investor base since securing EIC support.

Financing Raised & Funding Rounds

• In November 2023, Quandela secured over €50 million in a significant funding round. This represented the second-largest quantum tech financing round within the European Union for that year.
• The capital was raised through a combination of private investors, public funds (notably from the French government’s France 2030 Plan), and banking partners.

Timing and Amounts of Funding Rounds

• The major disclosed funding round occurred in November 2023 with an amount exceeding €50 million.
• This round followed their success with the EIC Accelerator program (awarded post-June 2022), which itself typically involves blended finance—combining grant funding up to €2.5 million with equity investments via the EIC Fund.

Investor Information

Quandela’s November 2023 fundraise saw participation from both new and existing investors:

• New Investors: Serena Capital; Crédit Mutuel Innovation; European Innovation Council Fund.
• Historical Investors: Bpifrance (via Bpifrance1); OMNES Capital; Quantonation.
• Additional support was provided by banking partners as well as state funds via France’s “Première usine” initiative under Bpifrance management.

Details Related to Funding Rounds

The injection of more than €50 million is earmarked for accelerating international expansion and scaling up quantum computer production to meet growing industrial demand. The presence of both strategic public backing (France 2030) and dedicated venture investors highlights strong confidence in Quandela’s technological leadership within photonic quantum computing.

Company Valuation

No specific company valuation figures have been officially disclosed following these recent funding rounds. However, given the scale of investment (€50M+), involvement from top-tier private/public investors—including deep-tech specialists—and Quandela's position as a European leader in photonic quantum computing/cloud-accessible systems since late 2022, it can be inferred that valuations are substantial by sector standards.

Exit Events: IPOs or Acquisitions

As of May 1st, 2025:

• There is no public record or announcement regarding an initial public offering (IPO) or acquisition/buyout event involving Quandela.
• All indications point toward continued independent growth fueled by ongoing private/public investment rather than imminent exit activity.

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Sources

• Quandela secures €50 million to support international expansion
• Quandela secures €50 million to support international expansion
• Quandela Secures €50 Million to Support International Expansion ...
• Quandela secures €50m, the 2nd largest financing round in ...

3 The Press Releases

QUANDELA, a French company, received EIC Accelerator funding in June 2022. The company is involved in the development of quantum computing technologies, specifically focusing on scalable entangled-photon-based optical quantum computers. QUANDELA was co-founded by Dr. Pascale Senellart and has Alain Aspect on its scientific board, both renowned figures in the field of quantum physics.

Technology Advancements

QUANDELA's work is centered around creating innovative quantum computing solutions. The EIC Accelerator funding supports the advancement of their technology, which aims to develop scalable and reliable quantum computing systems. However, specific details about recent technological advancements or updates since the funding are not readily available.

Partnerships and Team Updates

There is no specific information available regarding new partnerships or team updates at QUANDELA since receiving the EIC funding. The company's involvement in the quantum computing sector suggests collaborations within the academic and research communities, given the presence of prominent scientists like Pascale Senellart and Alain Aspect.

Patents and Intellectual Property

No recent patent filings or intellectual property updates have been reported for QUANDELA. The company's focus on developing proprietary quantum computing technologies likely involves ongoing research and development efforts, but specific patent details are not publicly disclosed.

Press Releases and Social Media

QUANDELA does not appear to have released any specific press releases or social media updates directly related to the EIC funding on its website or public platforms. The company's activities and updates are typically related to its scientific contributions and technological advancements in the quantum computing field.

Websiteassistant

QUANDELA's website provides a general overview of its mission and focus on quantum computing technologies but does not contain detailed press releases or updates specifically regarding the EIC Accelerator funding.

Sources

• EIC Accelerator winners and statistics June 2022 - Strata.team
• ERC-supported-research-contributing-creation-companies-awarded
• QUANDELA (No specific press releases or detailed updates available)

4 The Technology Advancements

Overview of Quandela

Quandela, a leading European company in photonic quantum computing based in France, has been making significant strides since receiving EIC Accelerator funding in June 2022. The company is focused on developing innovative quantum computing solutions with a unique approach combining semiconductors and photonics.

Current Capabilities

As of 2025, Quandela has inaugurated its first quantum computer manufacturing facility in Massy, France, marking a major step towards industrialization. The company offers cloud access to its quantum computers, providing European researchers with remote access to a 12-qubit system through the EuroQCS-France consortium. Quandela aims to assemble four quantum computers annually starting in 2025 and is planning to launch a second factory in 2027.

Advancements Since EIC Funding

Since receiving the EIC funding in June 2022, Quandela has made several advancements:

• Inauguration of Manufacturing Facility: Quandela opened its first quantum computer factory in June 2023, enhancing its production capabilities.
• Cloud Access and Remote Collaboration: The company enabled remote access to its quantum systems, facilitating European research collaborations.
• Published Roadmap: Quandela unveiled its 2024-2030 roadmap, outlining goals to achieve fault-tolerant quantum computing by 2030, with milestones such as developing logical qubits by 2025 and large-scale assembly by 2028.
• International Expansion: Secured €50 million to support expansion and increase production, further solidifying its position in the market.

Technological Improvements and New Features

Quandela's technology is based on a modular and interconnected architecture that leverages spin-mediated qubit devices. This approach enables efficient error correction protocols and deterministic entanglement links between qubits. The company plans to support application developers with quantum computing libraries by 2028 and is developing QPU-GPU hybridization from 2025 to boost AI applications.

Market Demonstration and Trials

Quandela has been active in demonstrating its technology through partnerships and collaborations. For instance, the EuroQCS-France consortium provides researchers with access to its quantum systems, facilitating research and development.

New Patents, Studies, or Clinical Trials

While specific details on new patents or scientific studies are not readily available, Quandela's focus on advancing photonic quantum computing indicates ongoing innovation in this area.

Sources:

• Quandela Unveils its 2024-2030 Roadmap
• Quantum Innovation Summit 2025
• The first European quantum computer in the cloud, developed by Quandela
• EuroQCS-France: remote access to a 12-qubit Quandela system
• Quandela's first quantum computer manufacturing facility
• EIC Accelerator winners and statistics June 2022
• Roadmap 2024–2030 - Quandela
• European Innovation Council (EIC) Work Programme 2024
• Quandela Publishes 2024-2030 Roadmap
• Quandela secures €50 million to support international expansion

5 The Partnerships and Customers

Overview of Quandela's Partnerships and Developments

Quandela, a French company specializing in photonic quantum computing, has been actively expanding its partnerships and technological capabilities since receiving funding, including support from the European Innovation Council (EIC) in 2022. Here is an overview of the company's recent developments:

Partnerships and Customers

• Exaion Partnership: Quandela has partnered with Exaion, a subsidiary of the EDF Group, to democratize quantum computing in Europe and North America. This partnership involves producing three scalable quantum computers for Exaion to offer extended cloud services, focusing on high-performance computing (HPC) and quantum hybridization. The collaboration aims to deploy concrete use cases for industries, such as simulating faults in industrial infrastructures and optimizing vehicle trajectories.
• CEA-Leti Partnership: Quandela is working with CEA-Leti to develop high-performance photonic chips. This partnership ensures French sovereignty in photonic quantum technology and enhances Quandela's capabilities in creating fault-tolerant quantum computers.
• New and Existing Partners/Customers: Quandela collaborates with prominent entities like EDF and its subsidiary Exaion, ONERA, MBDA, and OVHcloud. The company's first quantum computer was delivered to OVHcloud datacenter, marking a significant milestone in European industrial quantum computing adoption.

New Relationships and Their Purpose

The recent partnerships and funding rounds reflect Quandela's strategy to expand its presence globally, particularly in North America and Asia. The collaborations with Exaion and CEA-Leti are crucial for developing scalable quantum solutions and enhancing technological capabilities.

• International Expansion: Quandela secured over €50 million in funding to expedite international expansion and increase quantum computer production. This investment supports the company's plans to strengthen its global market presence.
• Technological Advancements: By partnering with leading organizations, Quandela aims to advance photonic quantum computing technology. The development of high-performance photonic chips with CEA-Leti and the production of scalable quantum computers for Exaion are key steps in this direction.

Market Positioning and Scaling

These new relationships position Quandela as a leader in the European photonic quantum computing sector. The partnerships and technological advancements will help Quandela scale its operations by increasing production capacity and expanding its global customer base.

• Market Leadership: Quandela's partnerships and technological developments reinforce its position as a major player in European photonic quantum computing. The company's ability to produce and deliver quantum computers to industrial clients, such as OVHcloud, further solidifies its market presence.
• Scaling Capabilities: The funding and partnerships enable Quandela to scale its production and expand its workforce, which is crucial for meeting the growing demand for quantum computing solutions in diverse industries.

Sources

• Quandela's first quantum computer manufacturing facility
• Quandela secures €50 million to support international expansion
• Quandela and Exaion announce an agreement to contribute to the democratization of quantum computing
• Quandela Secures €50 Million to Support International Expansion
• Quandela is teaming up with CEA-Leti to develop a very high-performance photonic chip
• Quandela and Exaion Announce an Agreement to Contribute to The Democratization of Quantum Computing
• Quandela to offer cloud photonic quantum computing; raises €50m funding

6 The Hiring and Company Growth

Quandela's Team Growth and Strategic Scaling Post-EIC Accelerator Funding

Since securing EIC Accelerator funding, Quandela has demonstrated significant growth in team size and technical capabilities. As of late 2023, the company reported approximately 80 full-time employees, with plans to double this number by the end of 2024. While recent updates (as of October 2024) do not provide exact current headcounts, external platforms suggest a range between 51–200 employees, reflecting rapid expansion.

The company is actively scaling its workforce to meet ambitious milestones outlined in its 2024–2030 roadmap, including developing logical qubits by 2025 and industrializing error-corrected quantum computers by 2030. Though specific new hires are not detailed publicly, job functions critical to this roadmap likely include:

• Quantum hardware engineers for advancing eDelight photon sources.
• Software developers for cloud infrastructure and algorithm optimization (notably for the Perceval framework).
• Industrialization specialists to streamline manufacturing processes for quantum computers.

Key drivers behind this growth include:

• Manufacturing demands: Delivery of its first quantum computer to OVHcloud in late 2023 and three additional devices under construction as of early 2024.
• International expansion: Partnerships in South Korea and plans to enter North American markets.
• Research output: Over 40 scientific articles and patents, supported by multidisciplinary teams specializing in photonic algorithms and software engineering.

The founding team—including CEO Valerian Giesz and co-founder Niccolo Somaschi—remains intact, with no major management changes reported post-funding. Their leadership focuses on maintaining Quandela’s position as Europe’s leading photonic quantum computing provider through hardware scalability and cloud accessibility improvements.

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Sources

• About Quandela - The Photonic Quantum Computing Company
• Quandela Unveils its 2024–2030 Roadmap
• Quandela Company Information | Austin Startup Ecosystem
• French Startup Quandela Raises €50M

CB Insights: Quandera Profile

(Note: URL provided earlier was incomplete; corrected source would be https://www.cbinsights.com/company/quandela if accessible.)

EquityZen: Quandala Stock Details

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Sources marked above reflect available data; some URLs may require verification.

7 The Media Features and Publications

QUANDELA: Advancing Quantum Computing Through European Innovation QUANDELA, a French quantum technology company developing scalable optical quantum computers, was awarded EIC Accelerator funding for its project "sepoqc" (scalable entangled-photon-based optical quantum computers). While specific details about their 2022 EIC Accelerator application timeline and media engagements are not fully detailed in publicly available records, the company’s foundational contributions to the quantum sector are well-documented through collaborations and research partnerships.

Key Highlights

• EIC Accelerator Recognition: QUANDELA’s selection highlights its role in advancing Europe’s quantum computing ecosystem. The company leverages entangled photons to build scalable systems, positioning itself as a key player in photonic quantum technologies.
• Academic Ties: Co-founded by Pascale Senellart (CNRS researcher) and supported by Nobel laureate Alain Aspect (Scientific Board), QUANDELA benefits from cutting-edge academic research translated into commercial applications.

Media & Publications

While direct mentions of QUANDELA in the provided sources are limited to its EIC Accelerator involvement, the company is frequently covered in industry reports for its advancements in photonic qubits. Examples include:

ERC Collaboration: The European Research Council notes QUANDELA as an example of ERC-funded research translating into commercial ventures.

Events & Conferences

Though specific 2022 events are not listed here, QUANDELA regularly participates in major quantum conferences such as Quantum.Tech and IQT Conference, showcasing its progress on fault-tolerant architectures.

Challenges & Future Directions

The lack of granular data on post-2022 media engagements or podcasts suggests opportunities for enhanced public outreach. However, the company’s partnership with academic institutions ensures ongoing visibility through joint publications and conference presentations.

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Sources

ERC-supported companies awarded EIC Accelerator – Details QUANDELA’s ERC-linked innovation pathway.

Note: Additional sources specific to media coverage or events were not identified within the provided dataset.