Atom Computing 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 US 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 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.
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.
“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 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,” said Bloom.
Curtis McKee, partner at Third Point Ventures said neutral-atom quantum computing is one of the most credible paths to fault-tolerant systems at scale.
“We believe commercial breakthroughs — in cybersecurity, defense, drug discovery, and financial modeling — are closer than the market appreciates,” said McKee.
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 and; growing the company’s engineering, research, and go-to-market teams.
“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,” said Aleem Rizvon, VP at Cisco Investments.
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.
