Pasqal Pitch Deck (2021): 20-Slide Series A Deck

See all 20 slides of the Pasqal pitch deck — a 2021 deck — with a slide-by-slide teardown of what the deck does well and where it falls short.

Pasqal’s 2021 deck is a masterclass in technical storytelling for DeepTech. The presentation moves swiftly from the macro problem—the slowing of Moore’s Law—to a specific hardware solution: Quantum Processing Units (QPUs) built with neutral atoms. The deck emphasizes a 'Co-Design Partnership Model,' showcasing early validation with heavyweights like EDF and various European HPC centers. While it lacks traditional startup metrics like CAC or LTV, it compensates with rigorous scientific citations and a concrete hardware roadmap, targeting 1,000 qubits by 2023. This technical depth, paired with…

Key takeaways

Introduction: The DeepTech Narrative

Pasqal’s 2021 pitch deck is a clinical, highly technical document designed for an audience that already understands the stakes of the quantum race. As a spin-off from the Institut d'Optique, the company relies heavily on scientific credibility rather than marketing fluff. The deck, used during a period where they raised a $29.3M Series A and moved toward a €100M Series B, focuses on one primary theme: Scalability .

Slide 1: Title and Positioning

The cover slide features a high-resolution image of the quantum hardware, immediately grounding the 'Quantum Advantage' claim in physical reality. It identifies the presenter as Georges-Olivier Reymond, CEO, and notes the occasion as an 'Investor day' for Quantonation, a prominent quantum-focused VC firm. The subtitle 'Quantum Advantage with Atoms Arrays' defines their specific niche in the market.

Slides 2-4: The Macro Problem and Mission

Slide 2 sets the stage by arguing that High-Performance Computing (HPC) is reaching its limits due to the slowing of Moore’s Law and unsustainable energy requirements. It identifies the 'Greatest Challenge' as the need to scale up quantum technology. Slide 3 introduces Pasqal as the solution, highlighting their 'Legacy' in the Paris-Saclay quantum hub and their 'Solution': multi-purpose, flexible QPUs with 100 to 1,000 qubits. Slide 4 emphasizes the 'Ecosystem,' showing a circular growth model involving research institutions (CNRS, University of Innsbruck), end-users (EDF), and software partners.

Slides 5-6: The Commercial Offer and Partnership Model

Slide 5 provides a concrete roadmap. It promises 100 qubits by end-2021 and 1,000 qubits by end-2023. This is a critical slide for investors because it attaches timelines to technical milestones. It also defines the two access modes: on-premise and cloud-based. Slide 6 details the 'Co-Design Partnership Model,' a three-phase approach (exploration, algorithm development, hardware implementation) with a typical schedule of 6 months per phase. This demonstrates a structured path to revenue and product-market fit.

Slides 7-9: Technical Deep Dive

Slide 8 is the heart of the technical pitch. It explains the use of trapped Rubidium atoms in optical tweezers. The slide includes diagrams of 1D, 2D, and 3D geometries, emphasizing the 'high flexibility' and 'high connectivity' of the platform. It cites a 2020 paper in Nature (Scholl et al.) to provide peer-reviewed validation. Slide 9 covers the 'Full-Stack Software Offer,' showing layers from hardware control to cloud services and end-user applications. This suggests that Pasqal is not just a hardware shop but a platform company.

Slides 10-14: Applications and Use Cases

After establishing the 'how,' the deck moves to the 'why.' Slide 11 lists applications in quantum simulation (physics, material science, chemistry) and hard computational problems (optimization, machine learning). Slides 12-14 focus on a specific use case: smart charging of electric vehicles (EVs) in partnership with EDF. Slide 14 shows 'Promising early results' with a graph indicating convergence towards large approximation ratios using a Quantum Approximate Optimization Algorithm (QAOA). This is a vital proof point, showing the technology working on real-world data provided by a major utility company.

Slides 15-16: Conclusion and Outlook

Slide 15 summarizes the value proposition: mature technology, established collaborations, and upcoming cloud/on-premise availability. Slide 16 is a simple 'Thank you' slide with the CEO’s email address. Notably, there is no slide detailing the amount of money being raised or the valuation, which is common for 'Investor Day' decks that serve as part of a broader fundraising process rather than a cold-outreach tool.

Slides 17-19: Technical Appendix

The deck includes three 'bonus' slides. Slide 17 explains the difference between Analogue and Digital control modes, positioning Pasqal as a versatile player that can offer better near-term performance via analogue while remaining universal via digital. Slide 18 provides further mathematical mapping for the MIS (Maximum Independent Set) problem. Slide 19 is perhaps the most practical slide in the deck, listing the physical specs of the QPU: 330cm width, The deck excels at technical substantiation . In a field as speculative as quantum computing, Pasqal avoids vague promises by citing specific academic papers and showing real data from their collaboration with EDF. The focus on 'Neutral Atoms' provides a clear differentiator from the 'Superconducting' (IBM/Google) or 'Ion Trap' (IonQ/Honeywell) approaches. By showing that their hardware can operate in a standard HPC environment without specialized cooling (Slide 19), they lower the perceived barrier to adoption for enterprise customers.

What is Missing

From a traditional venture capital perspective, the deck has several glaring omissions:

Team Slide: While the CEO is mentioned, the deck does not highlight the broader scientific team or their pedigree, which is usually a cornerstone of DeepTech pitches. · Competitive Landscape: There is no mention of how Pasqal’s 1,000-qubit roadmap compares to the roadmaps of competitors. · Financials: There are no projections for revenue, hardware costs, or burn rate. · The Ask: The deck does not state how much capital is being raised or how it will be allocated.

Founder Lessons

Founders in highly technical fields should take note of Pasqal’s 'Co-Design' narrative . Instead of claiming they have a finished product, they invite partners to build the use cases with them. This 'QCaaS' model (Slide 6) is a brilliant way to de-risk the technology while building a moat of proprietary algorithms. Furthermore, the inclusion of physical hardware specifications (Slide 19) is a powerful way to make 'spooky' technology feel like a manageable infrastructure asset for institutional investors.

Frequently asked questions

What is Pasqal's core technological advantage according to the deck?
Pasqal utilizes neutral atoms (specifically trapped Rubidium atoms) in arrays of optical tweezers. As shown on Slide 8, this allows for unique scalability and flexibility, enabling the arrangement of atoms in 1D, 2D, or 3D geometries. This approach is presented as superior for reaching high qubit counts (1,000+) with high connectivity compared to competing quantum modalities.
How does Pasqal plan to generate revenue?
The deck outlines two primary access modes on Slide 5: 'Directly,' where QPUs are installed at client premises or High-Performance Computing (HPC) centers, and 'Online,' through a cloud infrastructure. They refer to this as 'QCaaS' (Quantum Computing as a Service) on Slide 6, targeting end-users in sectors like pharmaceuticals, energy, and finance.
Which major partners are mentioned in the deck?
Pasqal highlights several high-profile collaborations to validate their use cases. Slide 6 and Slide 13 specifically mention EDF (Électricité de France) for smart-charging electric vehicle optimization. Other partners include world-class HPC centers like GENCI (France), Jülich (Germany), and CINECA (Italy), as well as software partners like Qu&Co and Multiverse Computing.
What are the physical requirements for Pasqal's quantum computer?
Unlike many quantum computers that require massive dilution refrigerators, Pasqal’s QPU has relatively modest requirements. Slide 19 specifies that the system requires 'None' for cooling requirements (beyond standard ambient conditions), consumes less than 10 kW of power, and fits within a footprint of 330 cm in width, weighing less than 750 kg.
What is missing from this pitch deck?
The deck is heavily focused on technology and roadmap. It notably lacks a dedicated 'Team' slide (though the CEO is named on the cover), a 'Competition' slide comparing them to IBM or IonQ, and any 'Financials' or 'Ask' slide. It functions more as a technical 'Investor Day' presentation than a traditional venture capital seed deck.
Cover slide of the Pasqal pitch deck — Series A / Series B 2021
Pasqal pitch deck, slide 1 (2021)

Pasqal pitch deck: the facts

Company
Pasqal
Year
2021
Stage
Series A / Series B
Slides
20
Sector
Quantum Computing / Software
Deck type
Investor Day / Growth Deck
Outcome
Raised €100M Series B led by Temasek
Headquarters
Paris, France

Pasqal pitch deck PDF

The full Pasqal deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Pasqal pitch deck was used for

This deck is Pasqal’s 2021 investor presentation used to raise its Series A round, as confirmed by coverage that describes it as the pitch deck used to raise $29.3M in Series A funding in June 2021. Pasqal is a Paris-based neutral-atom quantum computing startup, and in this deck it argues for the need to "scale up" quantum technology to achieve quantum advantage and positions its hardware and full‑stack software offering (including the Pulser library and joint algorithm development) as the way to do so. The capital from this Series A was intended to advance the development of Pasqal’s processors and applications and to build a cloud service for accessing its quantum computing solutions. Subsequent announcements show that after this deck, Pasqal went on to raise about €100M in a Series B in January 2023 and later larger rounds and a planned public listing, but those outcomes were not yet realized at the time of the deck.

Business model: Pasqal develops and commercializes neutral-atom quantum processors and a full-stack quantum computing offering (hardware plus software libraries, tools, and applications teams) for enterprise and research customers.

Round
Series A
Year
2021
Lead investor
Quantonation and Defence Innovation Fund (co‑leading the 2021 Series A)
Investors
Quantonation (lead Series A investor), Defence Innovation Fund managed by Bpifrance/AID (lead Series A investor), Runa Capital (Series A participant), Daphni (Series A participant), Eni Next (Series A participant)
Founded
2019
Founders
Alain Aspect, Antoine Browaeys, Christophe Jurczak, Georges-Olivier Reymond, Thierry Lahaye
Headquarters
Paris, France
Industry
Quantum computing / Information technology

Raising: Series A equity financing round to advance neutral‑atom quantum computing hardware and applications and to build a cloud service for customer access.

Raised: Business Insider reports $29.3M raised in the June 2021 Series A; the European Patent Office case study states the Series A was €25M.

Total funding: Pasqal has raised at least €25M in a 2021 Series A and about €100M in a January 2023 Series B, plus subsequent strategic and equity investments (e.g., additional €30M from the EIC Fund), bringing total private funding above €140M and more than USD 300M by 2026.

Use of funds as presented: To advance the development of Pasqal’s neutral-atom quantum processors and applications, and to build a service allowing customers to access its quantum computing capabilities via the cloud.

What happened after the Pasqal deck

The 2021 Pasqal deck successfully supported a $29.3M/€25M Series A, which funded further development of its neutral‑atom quantum processors, applications, and cloud service; the company subsequently raised a large €100M Series B in 2023 and continued to secure substantial private funding while moving toward a public listing.

What the Pasqal deck got right

What could have been stronger

How an investor would read this deck

What draws attention

Risks that stand out

Questions this deck invites

What founders can take from the Pasqal deck

Pasqal pitch deck: common questions

What does Pasqal do, and what technology does it focus on?

Pasqal is a French quantum computing startup that builds neutral-atom quantum processors and a full-stack software stack (including the Pulser library and applications team) to deliver quantum advantage for complex optimization, materials discovery, and other high-performance computing use cases.

What fundraise was this Pasqal deck used for?

According to Business Insider, this deck is the pitch deck Pasqal used to raise a $29.3M Series A round in June 2021. The deck outlines the need to scale up neutral-atom quantum technology, emphasizes hardware scalability, and presents a full-stack software offering (Pulser libraries, tutorials, and joint algorithm development) as part of its commercial strategy.

How much did Pasqal raise with this deck, and who invested?

Business Insider reports that Pasqal raised $29.3M in Series A funding in June 2021, led by the Defence Innovation Fund and Quantonation; it notes this was the deck used for that round. A European Patent Office case study further specifies that the 2021 €25M Series A was led by Quantonation and the Defence Innovation Fund managed by Bpifrance, with participation from Runa Capital, Daphni and Eni Next.

What did Pasqal plan to use the Series A funds for according to the deck and related coverage?

In 2021, Pasqal stated in its pitch materials and coverage that it would use the Series A funding to advance the development of its neutral-atom quantum processors and applications, and to build a cloud service allowing customers to access its quantum computing capabilities.

What happened after this Pasqal Series A deck in terms of funding and company trajectory?

Later funding news shows that after this 2021 Series A deck, Pasqal raised a roughly €100M Series B in January 2023 led by Temasek with participation from the EIC Fund, Wa’ed Ventures, Bpifrance Large Venture and existing investors, and subsequently announced larger private rounds and plans for a dual public listing on Nasdaq and Euronext. These later developments are outcomes following the deck, not claims within it.

Sources

Funding and outcome facts on this page were researched on 2026-08-21 from the pages below.

Pasqal pitch deck slides

Pasqal pitch deck slide 1 of 20
Pasqal pitch deck — slide 1 of 20
Pasqal pitch deck slide 2 of 20
Pasqal pitch deck — slide 2 of 20
Pasqal pitch deck slide 3 of 20
Pasqal pitch deck — slide 3 of 20
Pasqal pitch deck slide 4 of 20
Pasqal pitch deck — slide 4 of 20
Pasqal pitch deck slide 5 of 20
Pasqal pitch deck — slide 5 of 20
Pasqal pitch deck slide 6 of 20
Pasqal pitch deck — slide 6 of 20

What each slide of the Pasqal pitch deck says

Slide 1

STERIL E = == | =: J PASQAL fs: | | Quantum Advantage with 15) = =" Atoms Arrays | "wAlg = ERIS) | gk of Ie 1 Investor day - Quantonation J I” { Bs . Il Georges-Olivier Reymond —CEO- { |

Slide 2

Jll The Need for a Quantum Revolution HPC technology is reaching its Massive computational Quantum computing is of limits challenges ahead strategic importance Moore's law is slowing down and QCs can be used to optimize complex It will contribute to driving future energy requirements for HPC centers networks, devise new materials, innovation and economic growth. are not sustainable. accelerate drug discovery... GREATEST CHALLENGE: To deliver the promise of QC, we need to SCALE UP the technology CONFIDENTIAL © 2021 PASQAL SAS

Slide 3

ll Our mission: Reaching Quantum Advantage Faster Our Legacy: A word leading hub of Quantum science & u Technology in Paris-Saclay 3 J n \ Our Solution: Y Vy i J 2 | ol Multi-purpose, flexible, 100 — 1000 qubit Quantum rs —y (Ns Processing Units (QPUs), built with neutral atoms 1 ' \ & INS Our Strength: 3 3 11] QPUs with unrivalled performance(qubit number, - connectivity, quantum volume) and full software stack, ready to be exploited on-premise or on the Cloud. PASQAL is a leading European Quantum company, offering large qubit count, high performance and a maturity level allowing for practical use by both academics & corporates as of today CONFIDENTIAL © 2021 PASQAL SAS

Slide 4

Key ingredients to unlock the Quantum potential unversite @ a B Sifiiooks (HPCIRS Patri 3 att % GENCI Integration New algorithms ahko ® ih with lassical solutions iscotrosi & am #4) j0LicH ETC HPCcenters oe Applications Qowit aC A mature technology Quantum Processors (Ohm HT EMERGING TECHNOLOGY: To unlock the Quantum potential, we need to build a strong ecosystem

Slide 5

ll PASQAL’s Offer : Bringing Quantum Advantage to End-Users A roadmap allowing short-term access to the technology 100 qubits available end-2021 for PoCs Cloud access end of Q1 2022 - < 1,000 qubit systems on the cloud end-2023 - Two access modes: v «§ of kJ] Directly, with QPUs installed in HPC Centers / at Clients’ ” Rd ~ premises =% ¥] 4 ™ Online, through a cloud infrastructure accessible to end- » - " >= ~~ <= users and to partners Partnerships for co-development of applicative use-cases Proofs of Concepts and joint studies Involving PASQAL's engineers and partners (Qu&Co, Multiverse, Qubit Pharmaceuticals, Rahko...)

Slide 6

ll Co-Design Partnership Model Initial exploration of topics of interest We work with world-class HPC centers Objective: framing the case, inputs / ouputs %GENCI a JOLICH CiNECa Algorithm development & emulation i Ges $1818 Development of quantum algorithm Test and validation on PASQAL’s emulator Hardware implementation We wp HICRES fo anc anes Implementation on a QPU Qu «Co 8 1] Qubit Analysis of results & iterations muTveRse isan Ja hk Typical schedule : 6 months / phase EY €DF I=] a} Bringing Quantum Advantage to End-Users

Slide 9

CONFIDENTIAL © 2021 PASQAL SAS Full-stack offer B PASQAL's Full-Stack Software Offer © Training and tutorials are available to help users get started. * Our Software & Applications team is available to work jointly with you on quantum algorithm development © Checkout Pulser libraries, tutorials and article @ https://github.com/pasqgal-io/Pulser https://pulser.readthedocs.io/ https://arxiv.org/abs/2104.15044

Slide text above is read directly from the Pasqal deck PDF embedded on this page.

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