Quick Facts
- Atom Computing raised a $100M Series C led by Third Point Ventures, plus a $100M Letter of Intent from the U.S. Department of Commerce, for more than $300M in total funding.
- The Berkeley, Calif.-based company has built systems with over 1,200 qubits and is one of only two companies to demonstrate sustained quantum error correction using a toric code.
- Atom sold its first commercial on-premises quantum computer in 2025 and is currently installing what it calls the world’s first commercial quantum computer with logical qubits.
Atom Computing announced on June 16 that it has raised more than $300 million to accelerate the development of commercial fault-tolerant quantum computers. The total includes a $100 million Series C round and a signed Letter of Intent with the U.S. Department of Commerce for an additional $100 million.
Third Point Ventures led the Series C. DCVC, Cisco Investments, and others participated. The Department of Commerce funding flows through the CHIPS Research and Development Office under the CHIPS Act.
Founded in 2018 and headquartered in Berkeley, Calif., Atom Computing employs 110 people. The company uses arrays of optically trapped neutral atoms to build its quantum systems. Its architecture supports dynamically reconfigurable qubits with all-to-all connectivity.
In 2023, Atom became the first quantum company to surpass 1,000 qubits in a universal gate-based system. Its current systems exceed 1,200 qubits. The company is also one of only two firms to demonstrate multiple rounds of sustained quantum error correction using a toric code, and the only one to do so with neutral atoms.
CEO and founder Ben Bloom said the error correction results show a clear path to scale. “This is the clearest demonstration yet that neutral atoms are highly competitive with superconducting systems and other approaches for building scalable logical qubits,” Bloom said. “We’ve reached this milestone faster and with greater capital efficiency than larger players in the industry.”
Atom closed its first commercial sale in 2025, delivering an on-premises quantum computer to QuNorth, a Nordic quantum initiative funded by EIFO and the Novo Nordisk Foundation. The company is now installing what it describes as the world’s first commercial quantum computer with logical qubits.
Curtis McKee, partner at Third Point Ventures, said the firm has backed Atom since its Series B. “Commercial breakthroughs in cybersecurity, defense, drug discovery, and financial modeling are closer than the market appreciates,” McKee said. “Atom Computing will be at the center of that moment.”
The Department of Commerce funding drew a statement from Secretary Howard Lutnick, who called quantum computing a technology with “significant implications for national defense, advanced materials and biopharmaceutical discovery, financial modeling and energy systems.”
Atom plans to use the capital to scale qubit counts, improve fidelity, advance error correction software, and grow its engineering and go-to-market teams. The company is targeting enterprise and government customers across pharmaceuticals, materials science, energy, and logistics.
Robert Schwartz, managing partner at Third Point Ventures, put the government investment in direct terms. “This technology will ultimately be as important as artificial intelligence,” he said.
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