Atom Computing Raises $100M in Series C Funding Led by Third Point Ventures

The company plans to use the funding to develop more advanced quantum computers with higher qubit counts and better performance, improve its software, control systems, and error-correction technology, expand global deployments for government, enterprise, and research customers, and grow its engineering, research, and commercial teams.

Atom Computing has become a leading company in the effort to build practical quantum computers using neutral-atom technology. The company recently demonstrated quantum error correction on its quantum computers, becoming one of only two companies in the industry to achieve this milestone and the first to do so using neutral atoms.

Atom Computing continues to make progress with its neutral atom quantum technology. In 2023, it became the first quantum computing company to build a universal gate based system with more than 1,000 qubits.

The company is currently participating in Stage B of DARPA’s Quantum Benchmarking Initiative (QBI) to help develop utility-scale quantum systems. It is also working with Microsoft to install the world’s first commercial quantum computer with logical qubits. In addition, Atom Computing has been recognized by Fast Company as one of the World’s Most Innovative Companies and has strategic partnerships with Cisco and NVIDIA.

As industries look to use quantum computing in areas such as materials science, pharmaceuticals, energy, and logistics, demand is increasing for systems that can deliver real-world commercial value.

Atom Computing’s approach uses arrays of optically trapped neutral atoms, a technology widely considered one of the most promising paths to practical quantum computing. This positions the company to play a key role in bringing useful quantum applications to market in the coming years.

"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.

Read More:Mantle Energy Raises $5M in Seed Funding

"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."

"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."

About Atom Computing

Founded in 2018 by Ben Bloom and Jonathan King, Atom Computing develops large scale quantum computers for businesses, and researchers. Using arrays of optically trapped neutral atoms, the company has built systems with more than 1,200 qubits, and advanced capabilities that support the path toward fault tolerant quantum computing.

Read More:Type One Energy Appoints Bernard Looney to Board of Directors