Its architecture solves the ‘overhead problem,’ reducing the physical qubits required for breaking RSA-2048 from millions to under 100,000
Already working with the world’s leading quantum hardware companies, Iceberg closes $6m seed round led by LocalGlobe with Blackbird and DCVC.
SYDNEY, Feb. 12, 2026 (GLOBE NEWSWIRE) -- For years, the promise of quantum computing has been held back by the cost of fault tolerance. Qubits are fragile and noisy, and preventing errors from overwhelming a computation has required so much redundancy that truly useful machines have been pushed far into the future.
Today, the team at Iceberg Quantum says that assumption is wrong.
The quantum architecture company has unveiled Pinnacle, its first full fault-tolerant quantum computing architecture, alongside a $6m seed round led by LocalGlobe, with participation from Blackbird and DCVC.
Pinnacle is based on a new and far more efficient class of error-correcting codes, known as quantum LDPC (low-density parity-check) codes, and demonstrates how fault-tolerant architectures can be designed with an order-of-magnitude lower overhead.
As a concrete demonstration, Pinnacle shows how breaking RSA-2048 — long considered to require millions of physical qubits — could be achieved with fewer than one hundred thousand. Based on standard hardware assumptions and validated in the accompanying preprint using established numerical simulation methods, these results reset expectations around when quantum computers of cryptographic relevance can be built.
Iceberg Quantum’s approach is applicable across physical qubit modalities, and the company is already working with leading quantum hardware companies including PsiQuantum (photonics), Diraq (spin qubits), and IonQ (trapped ions), all of which have publicly projected timelines to build systems of this scale within the next three to five years.
“Iceberg’s advances in qLDPC-based architectures will bring forward utility-scale applications on our devices by years,” said Andre Saraiva, Head of Theory at Diraq. “This is a deeply challenging area, and Iceberg has assembled the rare expertise required to make real progress.”
The new funding will enable Iceberg Quantum to expand its team to accelerate research at the frontier of fault-tolerant quantum architectures, build out its architectural IP and software, and deepen design partnerships with leading quantum hardware companies. As part of this expansion, Iceberg Quantum is establishing its first overseas office in Berlin, and has also begun building its presence in the United States.
“Our ambition is to help accelerate the transition to, and ultimately power, the fault-tolerant era of quantum computing,” said Felix Thomsen, co-founder and CEO of Iceberg Quantum. “Our approach is to build the world’s best fault-tolerance research lab and partner closely with the leading quantum hardware companies. Pinnacle is an important step for us on that journey, and we’re excited to accelerate progress and grow the team, including in Berlin and the US.”
Iceberg Quantum was founded by Felix Thomsen, Larry Cohen, and Sam Smith, who met during their PhDs at the University of Sydney. The company is backed by Blackbird and LocalGlobe, with DCVC joining the $6m seed round led by LocalGlobe’s Mish Mashkautsan.
“The Iceberg team has made rapid technical progress, established new partnerships with leading quantum hardware companies, and demonstrated that they can concentrate the world-class talent required to deliver this crucial catalyst towards quantum utility,” said Mish Mashkautsan. “We’re excited to double down on our conviction in this exceptional team as they build out the ARM for quantum computing.”
“The path to FTQC needs exactly the type of innovations we’ve seen from the Iceberg team. DCVC is psyched to join the round and back them!”, said Prineha Narang at DCVC.
About Iceberg Quantum:
Iceberg Quantum is designing the next generation of fault-tolerant quantum architectures to accelerate the advent of useful quantum computing. With LDPC codes, we're reducing the hardware overhead required for fault tolerance by more than an order of magnitude, enabling quantum hardware companies to achieve practical fault tolerance faster, reduce the cost to build and operate useful quantum computers, and unlock more valuable applications by increasing computational power.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3323f5ff-0ef0-4b9e-a4e3-796750d4a3ce
https://www.globenewswire.com/NewsRoom/AttachmentNg/67fcd668-43da-4772-990d-0735dbc6d908
info@iceberg-quantum.com
