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Atom Computing Raises $60 Million Series B to Build Second-Generation Quantum Computer

Atom Computing
Atom Computing
Atom Computing announces $60 Million funding round to build second-generation quantum computing systems.

Berkeley, CA — Atom Computing, the creators of the first quantum computer made of nuclear-spin qubits from optically-trapped neutral atoms, today announced closure of a $60M Series B round. Third Point Ventures led the round, followed by Primer Movers Lab and insiders including Innovation Endeavors, Venrock and Prelude Ventures. Following the completion of their first 100-qubit quantum computing system with world-record 40 second coherence times.

Atom Computing will use this new investment to build their second-generation quantum computing systems and commercialize the technology.

“Atom Computing designed and built our first-generation machine, Phoenix, in less than two years and our team was the fastest to deliver a 100-qubit system,” said Rob Hays, CEO and President, Atom Computing. “We gained valuable learnings from the system and have proven the technology. The investment announced today accelerates the commercialization opportunities and we look forward to bringing this to market.”

With this new level of investment, the company will turn its focus to developing much larger systems that are required to run commercial use-cases with paradigm-shifting compute performance.

“We’ve seen a tremendous amount of investor interest in what many are starting to believe is a more promising way to scale quantum computers – neutral atoms. Our technology advancements and this investment gives us the runway to continue our focus on delivering the most scalable and reliable quantum computers,” added Hays.

Curtis McKee, Partner at Third Point Ventures, will join the Board of Directors. Curtis brings a wealth of IT, security, and business development expertise to the company.

“Atom Computing’s design approach with neutral atoms is notably differentiated and has breakout potential to leapfrog competitors in the quantum race,” said Curtis McKee, Partner at Third Point Ventures. “They bring together a unique combination of best-in-class executive and quantum engineering teams. We look forward to partnering with them as they lead the next era of computing.”

“Quantum computing will impact billions of lives, revolutionizing everything from drug discovery and financial modeling, to predicting climate change and the development of new, life-changing materials,” said Gaetano Crupi, Partner at Primer Movers Lab. “We have been tracking this technology closely and believe we have found the right team and approach to scalable quantum computers with Atom Computing.”

To learn more about Atom Computing visit: https://atom-computing.com.

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Matt Swayne

With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. [email protected]

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The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Jake Vikoren

Jake Vikoren

Company Speaker

Deep Prasad

Deep Prasad

Company Speaker

Araceli Venegas

Araceli Venegas

Company Speaker

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