Terra Quantum and Atom Computing Each Raise $60 Million in Venture Capital

In an interesting coincidence both Terra Quantum and Atom Computing each announced new venture capital raises of $60 Million. The investors in Terra Quantum's A round include Lakestar, which had previously invested in Terra Quantum's seed round, and also include two of the largest and globally renowned German family offices along with one of the most influential cryptocurrency investors globally. Terra Quantum has been pursuing a strategy they call Quantum-as-a-Service. Their QMware joint venture recently launched a Hybrid Quantum Cloud and they are also working on Quantum Security as a Service offerings utilizing Quantum Key Distribution (QKD) as well as Quantum Algorithms as a Service that will make available an extensive library of algorithms for their customers. You can read Terra Quantum's announcement of this funding here.

Atom Computing has raised a $60M Series B round led by Third Point Ventures with additional participation from Prime Movers Lab, Innovation Endeavors, Venrock, and Prelude Ventures. Atom has already built their first generation 100 qubit processor, codenamed Phoenix, which sports 40 second qubit coherence times and will use the funds to build their second-generation quantum computing systems and commercialize the technology. Atom Computing is using a neutral atom-based technology which we described in an earlier article last year. You can view a news release about Atom Computing's series B fund raising here.

January 20, 2022