Quantum firm Atom Computing secures $100m Series C funding
AI Summary
Atom Computing raised $100 million in Series C funding and secured a $100 million letter of intent from the U.S. government to scale its quantum computing technology.
Atom Computing has successfully secured $100 million in a Series C funding round to accelerate the development and deployment of its atomic array-based quantum systems. The round was led by Third Point Ventures, with significant participation from DCVC and Cisco Investments.
In addition to the private capital, the company has signed a letter of intent with the U.S. Department of Commerce for a further $100 million. This combined financial boost brings the company's total funding to over $300 million.
The company's AC1000 system currently utilizes over 1,200 physical qubits. This capital will be instrumental in scaling their technology as they work toward achieving higher logical qubit counts for fault-tolerant computing.
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