Atom Computing announced that it has raised more than $300 million to accelerate the development and deployment of commercial-scale fault-tolerant quantum computers. The funding includes a $100 million Series C round led by Third Point Ventures, with participation from DCVC, Cisco Investments, and other investors. The total also includes a signed letter of intent with the U.S. Department of Commerce for an additional $100 million. To date, the company has raised more than $300 million.
Atom Computing has emerged as a leader in neutral-atom quantum computing. The company recently demonstrated quantum error correction on its systems, becoming one of only two companies in the industry to achieve the milestone and the first to do so using neutral-atom technology.
The company surpassed the 1,000-qubit threshold for a universal gate-based quantum system in 2023 and is currently participating in Stage B of the Defense Advanced Research Projects Agency’s Quantum Benchmarking Initiative. Atom is also collaborating with Microsoft on the world’s first commercial quantum computer featuring logical qubits and maintains strategic partnerships with Cisco and NVIDIA.
Atom plans to use the funding to scale next-generation systems with higher qubit counts and improved fidelity, enhance software and error-correction capabilities, expand global deployments of on-premises systems for enterprise and government customers, and grow its engineering, research, and commercial teams.
The company said its approach, based on arrays of optically trapped neutral atoms, is designed to support practical applications across industries such as pharmaceuticals, materials science, energy, logistics, cybersecurity, defense, and financial modeling.
KEY QUOTES:
“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. 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.”
Dr. Ben Bloom, CEO and Founder of Atom Computing
“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. 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.”
Curtis McKee, Partner at Third Point Ventures
“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!”
Dr. Prineha Narang, Operating Partner at DCVC
“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. We are excited to invest in Atom Computing as it establishes itself as a leader in neutral-atom quantum computing.”
Aleem Rizvon, Vice President at Cisco Investments
