Why We Invested in Atom Computing
Prime Movers Lab is proud to announce our investment in Atom Computing’s $60 million Series B financing. We are thrilled to join this round with Third Point Ventures and existing investors Innovation Endeavors, Venrock, and Prelude Ventures.
Atom Computing pioneered neutral atom quantum architecture, creating the world’s first quantum computer made of nuclear-spin qubits from optically-trapped neutral atoms. Our investment follows its impressive milestone of completing a 100-qubit quantum computing system with world-record coherence times.
If you follow our technical content, it will be no surprise that we have been closely tracking quantum computing for several years. My colleagues have written and spoken about our interest in quantum computing and how scientific breakthroughs in this type of problem-solving could impact billions of lives. From communications and cybersecurity to finance, chemistry and logistics, quantum computing will one day play a background role in numerous daily activities across the globe. However, from an investing perspective, we have stayed on the sidelines.
The Atom Computing team impressed us from our first conversation. We were looking for a technical roadmap that could realistically scale to millions of physical qubits with high levels of gate fidelity and error correction. Atom Computing had it. Not only has its system matched incumbent metrics, it has done so faster and at a fraction of the cost. Atom Computing was the fastest to build a 100-qubit system, and they show no signs of slowing down. We believe that (1) the neutral-atom approach will quickly jump to the front of the quantum architecture pack and (2) Atom Computing is the leader in this ‘second wave’ of quantum computing.
Beyond these impressive technical milestones, Atom’s leadership team gave us confidence that they can create not only an impressive piece of hardware, but an amazing customer experience. When we found a truly scalable approach to quantum in the hands of a team that could deliver a best-in-industry, user-friendly product, we could no longer stay on the sidelines. Quantum computing could be a generational scientific breakthrough. We believe Atom Computing will make that a reality.
We are proud to support Rob, Ben, Jonathan, and the entire Atom team and humbled to be along on this amazing journey toward quantum supremacy.
Prime Movers Lab invests in breakthrough scientific startups founded by Prime Movers, the inventors who transform billions of lives. We invest in companies reinventing energy, transportation, infrastructure, manufacturing, human augmentation and agriculture.
Sign up here if you are not already subscribed to our blog.
