Key facts
- Oratomic has raised $300 million in a Series A funding round.
- The company aims to build a utility-scale quantum computer by the end of the decade.
- Oratomic's quantum computer design uses lasers to hold individual atoms.
- The startup believes it needs 10,000 to 20,000 qubits for a functional machine.
- The funding round was co-led by ARCH Venture Partners, Spark Capital, and Khosla Ventures.
Oratomic, a startup aiming to build a commercially viable quantum computer, announced this week that it has raised $300 million in a Series A funding round. The investment was co-led by ARCH Venture Partners, Spark Capital, and Khosla Ventures, with participation from other notable investors including Bezos Expeditions, Index Ventures, General Catalyst, Lowercarbon Capital, and Bain Capital.
Founded by physicists from Caltech, Oratomic employs a unique approach using lasers as optical tweezers to precisely position individual atoms, forming the basis of its quantum computer. The company's breakthrough lies in its discovery that effective error correction, a critical challenge in quantum computing, can be achieved with significantly fewer qubits than previously believed.
Oratomic's co-founder and CEO, Dolev Bluvstein, stated that the company's recent breakthrough was the catalyst for starting the venture, as they previously thought practical quantum computing was too distant. Unlike many competitors focusing on noisy intermediate-scale quantum (NISQ) prototypes, Oratomic has no plans to sell such systems. Bluvstein highlighted that Oratomic's method is simpler and less expensive, requiring an estimated 10,000 to 20,000 qubits for a useful computer, a scale for which core components have already been experimentally demonstrated.
A fully realized quantum computer has the potential to revolutionize fields requiring complex calculations, including biotechnology, chemistry, logistics, artificial intelligence, and cryptography. The quantum computing sector has recently attracted significant investor interest, with several startups going public and existing companies experiencing stock price surges.