Phasecraft Raises £13M for Quantum Advancements
Phasecraft has successfully secured £13 million in its Series A round for real-world applications through their innovative quantum algorithms. This substantial funding showcases Phasecraft’s unwavering dedication to advancing quantum technology and solidifies its position as a trailblazer in quantum algorithm development.
Playground Global led the funding round with AlbionVC. Existing investors include Episode 1, Parkwalk Advisors, LCIF, and UCL Technology Fund. This united support underscores Phasecraft’s dual ambition—refining quantum algorithms while propelling tangible real-world applications.
At the forefront of the quantum race, Phasecraft stands out by relentlessly focusing on quantum algorithms. The team meticulously fine-tunes these algorithms to harness the capabilities of today’s imperfect quantum computers. This strategic alignment firmly establishes the UK-based start-up as an industry frontrunner. Moreover, With the £13 million Series A funding bolstering their efforts, the company strategically positioned itself to further refine and elevate its quantum algorithms. This pivotal milestone signifies the moment when quantum computers outperform their classical counterparts, excelling in the execution of real-world tasks.
Furthermore, Phasecraft’s inception was spearheaded by visionaries Professors Ashley Montanaro (CEO), Toby Cubitt (CTO and Chief Science Officer), and John Morton in 2019. Collectively, these eminent figures bring a remarkable two decades of quantum computing research experience, catalyzing Phasecraft’s relentless pursuit of quantum algorithm excellence.
Unlocking Quantum’s Potential
Moreover, As quantum hardware evolution maintains its momentum, Phasecraft’s singular focus on quantum algorithms bridges a crucial chasm—transforming theoretical potential into pragmatic applications. The crux of quantum computing’s promise hinges on its proactive stance in tackling real-world challenges head-on. Additionally, Emphasizing the necessity for dual advancement—hardware progress coupled with application development—Ashley Montanaro, Phasecraft’s CEO, drives home the point. Armed with pioneering techniques and groundbreaking algorithms, the company boldly expands the frontiers of quantum capabilities.
Peter Barrett, General Partner at Playground Global, underscores Phasecraft’s pivotal role in the quantum landscape. The company’s exceptional team of quantum scientists and engineers collectively possess unmatched expertise and innovative perspectives. Playground Global’s unyielding belief in the transformative potential of dedicated, seasoned teams finds its apotheosis in Phasecraft’s ongoing journey.
Thus, Phasecraft stands as a testament to the practical prowess of quantum technology. Through its unwavering focus on quantum algorithms, this start-up charts an impressive trajectory.