Just behind the USA and China, Europe has at least 147 startups working with quantum technologies, according to a survey by Dealroom, a company based in Amsterdam, the Netherlands. Thirty-nine of them are in the United Kingdom, 18 in Germany, and 15 in both France and the Netherlands. Of the 147 startups, 60 are focused specifically on the development of quantum computers, which use quantum bits that are much faster than the binary bits (0s or 1s) used to encode information by traditional computers. They can thus perform operations much faster. Some are making good progress. In January, a French startup called Pasqal raised €100 million for its quantum processing technology. Investment in this area by venture capital companies more than doubled from US$105 million in 2021 to US$257 million in 2022. In February, Germany announced a €1 billion fund for innovative companies, including those working on quantum technologies (Sifted Newsletter, February 22).
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