Investors keep throwing money at the quantum computing market, and this time around it’s Atom Computing Inc.‘s turn.

The company said today it has closed on a $60 million Series B round of funding as it readies to build out its quantum machine based on neutral atom technology. Today’s round was led by Third Point Ventures and saw participation from Prime Movers Lab, Innovation Endeavors, Venrock and Prelude Ventures, bringing the company’s total amount raised to date to $80 million.

Atom is pursuing what it says is the most pragmatic approach to building a quantum computer that can scale up using nuclear-spin qubits that are created with neutral atoms, which are those that possess an equal number of electrons and protons.

The company reckons its prototype machine has demonstrated superior stability to other quantum computing technologies. That’s an important step, because stability is one of the biggest obstacles that must be overcome to build a working quantum computer that can perform complex calculations too difficult for even the most sophisticated classical machines.

The power of quantum computers comes from their reliance on qubits. Whereas traditional computers use “bits” that have a value of a zero or a one, qubits can be a zero, one or both at the same time, opening the door for multiple calculations to be performed simultaneously.

The potential is enormous, but scientists have struggled to build working machines that have enough qubits to achieve supremacy over conventional types of computers. The thing is that qubits are incredibly unstable and need to be stored within extreme environments to work properly.

For instance, the likes of Google LLC and IBM Corp. have both built quantum computers that operate at close to absolute zero temperature in order to stabilize qubits. Others, such as Honeywell International Inc. and IonQ Inc., are trying to use trapped ions, or charged particles suspended in a vacuum, to form their qubits.

Atom’s method of using neutral atoms is more similar to the latter approach, and requires the use of lasers to manipulate individual qubits. As Atom Chief Executive Rob Hays explained to SiliconANGLE last summer, the system works by trapping individual atoms in a spot of light, without wires or radio frequency.

“What this means is we can get the atoms really close together, just three microns apart,” he said. “To add another qubit to the system, you just add another spot of light.”

Atom showed off a 100-qubit system last year that demonstrated a world record-breaking qubit coherence time of 40 seconds. That means it can keep qubits stable for more than enough time to solve most computing tasks.

“Atom Computing designed and built our first-generation machine, Phoenix, in less than two years and our team was the fastest to deliver a 100-qubit system,” Hays said today. “We gained valuable learnings from the system and have proven the technology.”

The next step for Atom is to build a more powerful quantum machines using the same technology. After that, it will look to commercialize its technology.

“Our technology advancements and this investment gives us the runway to continue our focus on delivering the most scalable and reliable quantum computers,” Hays promised.

Third Point Ventures Partner Curtis McKee said he invested in Atom because its approach to quantum computing is notably differentiated from others in the space. He said he believes the company has “breakout potential” to leapfrog all of its main competitors.

Atom isn’t the only quantum company that sees potential in neutral atom technology. European startup Pasqal SE is pursuing a very similar approach and has already demonstrated a 200-qubit machine – twice as powerful as Atom’s. Pasqal recently merged with the quantum algorithm developer Qu&Co BV, saying that the move will enable it to deliver “near-term commercial benefit”to its customers.

Image: Atom Computing