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August 18, 2023

Phasecraft: Bridging Today's Quantum and Tomorrow's Possibilities with £13M Boost

Phasecraft Raises £13M for practical applications into Real-World Wonders

In a pursuit that encapsulates the essence of quantum technology's boundless horizons, Phasecraft, a quantum tech venture sprouting from the corridors of University College London and the University of Bristol, emerges as a trailblazer in the realm of quantum advancements. Bolstered by a recent infusion of £13 million in Series A funding, this UK-based start-up maneuvers to turn the potential of quantum algorithms into practical realities.

Hailing from the fertile grounds of University College London and the University of Bristol, Phasecraft marks a spirited entry into the quantum race. Rooted in pioneering research, this quantum tech prodigy charts a pioneering course. Armed with the audacious vision of rendering quantum algorithms fit for today's imperfect quantum computers, Phasecraft stands resilient in its quest to redefine quantum's possibilities.

Backed by an impressive £13 million in Series A funding, Phasecraft embarks on a journey that marries innovation with practicality. These funds, a testament to Phasecraft's resolve, propel the further development of quantum algorithms, inching them ever closer to the elusive "point of practical quantum advantage." This milestone, characterized by quantum computers surpassing their classical counterparts in real-world applications such as material discovery, signifies the pinnacle of quantum's ascendancy.

The inception of Phasecraft in 2019 witnessed the convergence of luminaries in the field: Professors Ashley Montanaro, Toby Cubitt, and John Morton. With two decades of quantum computing research as their foundation, this trifecta propelled Phasecraft.

The recent funding round was spearheaded by Playground Global. and involves AlbionVC and other investors including Episode1, Parkwalk Advisors, LCIF, and UCL Technology Fund.

As Ashley Montanaro, Phasecraft's CEO, aptly captures, "Advancements in quantum hardware alone won't suffice; the applications we build dictate quantum's true impact." With resounding conviction, he emphasizes the game-changing potential of their algorithms and techniques, charting a trajectory that propels quantum from theoretical marvel to practical ally.

Phasecraft's narrative encapsulates the spirit of quantum's uncharted realm, fueled by the synergy of academic brilliance and investment support. As this quantum venture harnesses its £13 million impetus, the chasm between theoretical possibilities and tangible applications shrinks.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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