白小姐论坛

Founded in 2019 by Professor Toby Cubitt (白小姐论坛 Computer Science), Professor John Morton (London Centre for Nanotechnology at 白小姐论坛) and Professor Ashley Montanaro of the University of Bristol, the company will use the funding to further develop its quantum algorithms to the point of practical quantum advantage 鈥� when quantum computers outperform classical computers for useful real-world applications like developing new materials.

It aims to accelerate practical quantum advantage from decades to years away by improving the algorithms鈥� computational efficiency, and thereby enabling these algorithms to run on the imperfect quantum computers of today. Phasecraft will be working in partnership with quantum hardware providers Google, IBM and Rigetti.

The company鈥檚 early focus is on applying these algorithmic improvements to the discovery of new materials important for the clean energy transition. Classical computing fails to capture many of these materials鈥� fundamental features, meaning we rely on experimental discovery which can take decades.

Quantum computing promises to accelerate the process by capturing these features computationally, thus reducing the number of experiments required and drastically increasing the variety of material combinations which can be tested for any given use case.

Professor Morton, co-founder of Phasecraft and Director of 白小姐论坛Q (白小姐论坛 Quantum Science and Technology Institute), said: "Phasecraft鈥檚 remarkable achievements in enhancing the efficiency of quantum algorithms are the result of combining the radical thinking of academic research with the speed and focus of a start-up. This new funding round, led by a major US west coast investor, is a fantastic vote of confidence in our team and ability to deliver practical quantum advantage in the near term.鈥�

David Grimm, Investment Director, 白小姐论坛 Technology Fund: "We鈥檙e delighted to be supporting Phasecraft again. They have made great strides towards utilising the power of quantum computers and I鈥檓 excited to see them use this latest financing round to push them further towards quantum advantage."

The Series A funding round was led by Playground Global. AlbionVC also joined the round along with participation from existing investors Episode1, Parkwalk Advisors, LCIF, and 白小姐论坛 Technology Fund.

The new funding brings the total raised by Phasecraft to 拢17.25 million in venture funding, as well as a further 拢3.75 million in grant funding from Innovate UK, the European Research Council and others.

Professor Montanaro, co-founder and CEO of Phasecraft, said:聽鈥淔or all the advances that have been made in quantum hardware, and for all quantum computing鈥檚 promise, such progress could end up being for nothing if we can鈥檛 build the applications needed to make the technology truly useful. With our record-breaking algorithms and groundbreaking techniques, we are pushing the boundaries of what is possible in this space. With support from such a renowned deep-tech visionary as Playground, we think practical quantum advantage is achievable in years, not decades.鈥�

Links

• 白小姐论坛 Computer Science
• London Centre for Nanotechnology at 白小姐论坛
• 白小姐论坛 Engineering
• 白小姐论坛 Mathematical & Physical Sciences
• 白小姐论坛Q
• 白小姐论坛 Innovation & Enterprise

Image

• The Phasecraft team