Phasecraft, a quantum computing firm co-founded by university academics, has raised $34 million in funding to advance its development of hardware-agnostic quantum algorithms for practical applications.

Target Information

Phasecraft, a groundbreaking quantum computing company co-founded by leading academics from the University of Bristol and University College London (UCL), has secured $34 million in funding aimed at advancing its innovative technology. The team, consisting of Professors Toby Cubitt, Ashley Montanaro, and John Morton, boasts extensive experience in quantum computing, having led prominent research teams at their respective institutions for decades.

Phasecraft is dedicated to developing hardware-agnostic quantum algorithms that cater to diverse applications including material discovery, chemistry, energy networks, and logistics optimization. Their focus is on providing quantum solutions that can be readily adopted within the near-term, capitalizing on the existing capabilities of quantum computing.

Industry Overview in the UK

The quantum computing sector in the United Kingdom is rapidly advancing, driven by significant investments and research initiatives that aim to make practical applications a