Pasqal, Eleven Ventures to advance quantum computing in Saudi Arabia

French company Pasqal and Eleven Ventures, a Saudi Arabia-based investment platform and venture capital firm, have announced an agreement to establish a commercial joint venture to deploy, commercialize and scale Pasqal’s quantum computing systems across Saudi Arabia and the region, with plans to deploy multiple quantum systems in the coming years, Pasqal said. 

The joint venture intends to deploy and operate Pasqal’s neutral-atom systems in the Kingdom of Saudi Arabia and bring Pasqal to market for customers across the country and the wider region. It is also expected to build and boost local talent and expertise. 

“The Kingdom has moved faster than most markets to turn advanced computing into national capability,” said Dr. Wasiq Bokhari, Chief Executive Officer of Pasqal. “We believe this joint venture puts Pasqal’s quantum systems inside the Kingdom, built to scale with the region’s ambition — not adjacent to it.”

“We believe that quantum today is where AI stood a few years ago, on the edge of changing everything. The difference is that this time, the Kingdom and the region are not watching from a distance, we are moving first, and in Pasqal we found a partner that will not wait either,” said Prince Abdulaziz Bin Turki Bin Talal, Chairman of the Board of Pasqal Arabia. “Together we plan to deploy real systems, raise a generation of quantum talent, and make the Kingdom the home of this technology for the entire region.”