Oratomic Wins $300 Million Backing for Quantum Computing Push
Synopsis
Investors have backed the startup's novel error-correction technology, which aims to make commercial quantum computers more practical and scalable.
Key Highlights
- High Performance Computer Oratomic $300M quantum computer funding round raised with US$300 million in a Series A quantum computer funding round.
- Round co-led by ARCH Venture Partners, Spark Capital and Khosla Ventures.
- Oratomic aspires to have a utility-scale quantum computer with 10,000–20,000 qubits by the end of this decade.
Oratomic $300M quantum computer funding round Series A financing of US$300 million co-led by ARCH Venture Partners, Spark Capital and Khosla Ventures as the startup tries to develop a utility-scale quantum computer capable of using just 10,000 to 20,000 qubits instead of previous estimates that came closer to one million q.
Caltech Startup Uses Neutral-Atom Technology
Oratomic is a quantum computer start-up based out of Caltech and uses lasers as optical tweezers to hold single atoms in place as the heart of its various designs for a quantum computer.
It said its launch was in part made possible when researchers discovered a breakthrough technology that allows quantum computers to correct errors with dramatically fewer qubits than previously thought feasible.
But the company only applied to start its work after having completed the breakthrough, and discovering they believed that commercialisation was right around the corner according to co-founder and CEO Dolev Bluvstein.
Targets Utility-Scale Quantum Computing
Oratomic does not intend to build or sell noisy intermediate-scale quantum (NISQ) systems, unlike many quanta computing companies. Bluvstein added that the quantum computer company takes a different approach to PsiQuantum, which is focused on a million-qubit quantum computer.
According to them, quantum computing can be built by Oratomic with just 10,000-20,000 qubits and all core components in smaller scale already experimentally demonstrated. The utility-scale quantum computer itself is anticipated to be commercialised by the end of the decade.
Notable Investors Showing Interest in Quantum Computing
Bezos Expeditions, Index Ventures, General Catalyst, Lowercarbon Capital and Bain Capital also participated in the round.
Such a quantum computer, large enough to realise brain-scale capabilities, yet still utility scale, would have cross-domain implications from biotech breakthroughs to new synthesis methods in chemistry, and applications in logistics (optimisation), AI and cryptography.
The sector is attracting more investor interest this year with companies like Infleqtion and Quantinuum going public, while quantum computing start-ups that are already listed on the stock market such as Rigetti and IonQ saw their share prices soar over the past 18 months.
Vinod Khosla, the founder of VC firm Khosla Ventures, said Oratomic is “the largest seed investment” for his company to date in a post on X.
Source: Reuters
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