Insider Brief
- Atom Computing has secured more than $300 million in total funding, including a $100 million Series C round and a $100 million Letter of Intent with the U.S. Department of Commerce, to accelerate development and deployment of fault-tolerant quantum computers.
- The company recently demonstrated quantum error correction on a neutral-atom quantum computer and is participating in DARPA’s Quantum Benchmarking Initiative while deploying a commercial logical-qubit system with Microsoft.
- Atom Computing plans to use the funding to scale higher-performance quantum systems, advance error correction and software capabilities, expand global deployments, and grow its engineering, research, and commercial teams.
PRESS RELEASE — Atom Computing today announced it has raised a total funding of more than $300 million to accelerate the development and deployment of commercial-scale fault-tolerant quantum computers. The total includes a $100 million Series C investment round and a signed Letter of Intent with the U.S. Department of Commerce for $100 million. The Series C round was led by Third Point Ventures, with participation from DCVC, Cisco Investments, and others.
Atom Computing has emerged as a leader in the race to build practical quantum computers using neutral atoms. The company recently announced a full demonstration of quantum error correction on its quantum computers, making it only one of two companies in the quantum industry to have done so, and the first company to do this demonstration using neutral-atom technology.
The company continues to build momentum using its neutral-atom technology. In 2023, Atom became the first quantum company to surpass the 1,000-qubit threshold for a universal gate-based system. The company is currently performing in Stage B of the Defense Advanced Research Projects Agency (DARPA) Quantum Benchmarking Initiative (QBI) to explore paths to utility-scale quantum systems while also installing the world’s first commercial quantum computer with logical qubits in partnership with Microsoft. Atom Computing, named to Fast Company’s list of the World’s Most Innovative Companies, is also engaged in strategic collaborations with Cisco and NVIDIA.
“Quantum computing is entering a new phase where technical breakthroughs are translating into real-world systems and global adoption, fueled by our neutral-atom technology,” said Dr. Ben Bloom, CEO and Founder of Atom Computing. “We have strong momentum, and we are accelerating the development of utility-scale quantum computers and expanding access to our technology for customers solving some of the world’s most complex computational challenges.”
“Third Point Ventures has backed Atom Computing since their Series B, and leading this Series C reflects our deepening conviction in both the team and the technology,” said Curtis McKee, Partner at Third Point Ventures. “Neutral-atom quantum computing is one of the most credible paths to fault-tolerant systems at scale, and we believe commercial breakthroughs — in cybersecurity, defense, drug discovery, and financial modeling — are closer than the market appreciates. Atom Computing will be at the center of that moment.”
Atom Computing is using its recent funding for:
- Scaling next-generation quantum computers with higher qubit counts and improved fidelity
- Advancing the software, control systems, and error correction capabilities necessary for logical qubit operations
- Expanding global deployments, including on-premises systems for government, enterprise, and research customers
- Growing the company’s engineering, research, and go-to-market teams
“Atom Computing’s roadmap and execution towards a neutral atom fault tolerant quantum computing is truly impressive. DCVC has been with the Atom team from the start, and we are delighted to double down!” said Dr. Prineha Narang, a DCVC Operating Partner.
“Quantum computing is rapidly evolving from a research pursuit into a technology platform with real-world enterprise implications. As it matures, the industry will require scalable infrastructure, secure networking, and strong ecosystem collaboration to support real-world deployment,” added Aleem Rizvon, Vice President, Cisco Investment. “We are excited to invest in Atom Computing as it establishes itself as a leader in neutral-atom quantum computing.”
As industries increasingly explore quantum computing for applications in materials science, pharmaceuticals, energy, and logistics, demand is growing for systems capable of unlocking commercially relevant quantum applications. Atom Computing’s unique approach to quantum computing, utilizing arrays of optically-trapped neutral atoms, is widely recognized as one of the most viable paths to reaching commercial utility and positions the company to play a leading role in enabling practical quantum applications in the years ahead.
