Key Takeaways
- • Oratomic, a Pasadena-based quantum computing startup, is now valued at $5.4 billion, up from $1.5 billion, following a Series B round co-led by ARCH Venture Partners, according to The Wall Street Journal.
- • One report puts the Series B at $475 million, raised about three months after the company's $300 million Series A.
- • The Series A was co-led by ARCH Venture Partners and Spark Capital and aims to fund fault-tolerant, utility-scale quantum computers.
- • Oratomic is a Caltech spinout developing neutral-atom quantum hardware, with a reported target of a 20,000-qubit machine.
- • The rapid step-up from Series A to Series B signals strong investor appetite for quantum hardware companies with credible near-term technical roadmaps.
Summary
Oratomic, a quantum computing startup based in Pasadena, California, has more than tripled its valuation to $5.4 billion, up from $1.5 billion, after a Series B funding round co-led by ARCH Venture Partners and other investors, according to The Wall Street Journal. The round was reported as an exclusive. One industry report puts the Series B at $475 million, raised roughly three months after the company's Series A, which is a fast fundraising cadence even by the standards of the capital-intensive quantum sector.
The company's Series A raised $300 million and was co-led by ARCH Venture Partners and Spark Capital. Proceeds were earmarked to accelerate development of fault-tolerant, utility-scale quantum computers. Per a company profile, the new capital is intended to support hardware development, algorithm research, and hiring across key technical disciplines. Oratomic is a spinout from Caltech and is developing neutral-atom quantum computing hardware. One report describes a target of a 20,000-qubit system.
Public commentary from people connected to the company reflects the same direction. Caltech professor Andrei Faraon publicly described his involvement with Oratomic and said the company is hiring, and investor Finn Murphy praised the company's plans to build what he called the world's first true quantum computer. Dolev Bluvstein is listed as a company founder in one profile.
The valuation step-up and the speed of successive rounds indicate continued investor enthusiasm for quantum computing companies with hardware programs. Available reporting does not disclose the full Series B investor syndicate or the detailed use of proceeds beyond the general themes above.
The company's Series A raised $300 million and was co-led by ARCH Venture Partners and Spark Capital. Proceeds were earmarked to accelerate development of fault-tolerant, utility-scale quantum computers. Per a company profile, the new capital is intended to support hardware development, algorithm research, and hiring across key technical disciplines. Oratomic is a spinout from Caltech and is developing neutral-atom quantum computing hardware. One report describes a target of a 20,000-qubit system.
Public commentary from people connected to the company reflects the same direction. Caltech professor Andrei Faraon publicly described his involvement with Oratomic and said the company is hiring, and investor Finn Murphy praised the company's plans to build what he called the world's first true quantum computer. Dolev Bluvstein is listed as a company founder in one profile.
The valuation step-up and the speed of successive rounds indicate continued investor enthusiasm for quantum computing companies with hardware programs. Available reporting does not disclose the full Series B investor syndicate or the detailed use of proceeds beyond the general themes above.
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