Photonic Inc. secures $100m for scalable quantum computing advancements
In a landmark financing round, Photonic Inc., a frontrunner in the development of scalable quantum computing and networking, has announced a substantial $100M USD investment. This recent influx, contributed by esteemed entities including the British Columbia Investment Management Corporation (BCI), Microsoft Corporation, the UK government’s National Security Strategic Investment Fund (NSSIF), Inovia Capital, and Amadeus Capital Partners, elevates the company’s total funding to an impressive $140M USD.
Quantum Computing Breakthroughs Attract Major Investment
Photonic’s innovative approach, which integrates silicon spin qubits with photonics, promises to make fault-tolerant quantum technologies a tangible reality. With this technology, the company aims to pioneer one of the world’s first networked quantum computers. Photonic’s rapid growth, now boasting over 120 employees across offices in Canada, the UK, and the US, underscores the industry’s confidence in its revolutionary vision.
Paul Terry, CEO of Photonic, expressed his gratitude for the continued investor support, attributing the company’s progress to its dedicated team and groundbreaking technology. Hermann Hauser of Amadeus Capital Partners praised Photonic for tackling the quantum computing sector’s core challenges, while BCI’s CEO Gordon J. Fyfe highlighted Photonic’s technical strides and commercial partnerships as key drivers for the investment.
Photonic and Microsoft Collaborate to Advance Global Quantum Ecosystem
The announcement was coupled with news of Photonic’s collaboration with Microsoft, aiming to strengthen the quantum computing ecosystem worldwide.
Photonic’s Silicon Colour Centres Pave Way for Quantum Network Expansion
A technical paper released by Photonic, alongside a detailed Microsoft blog post, provides insights into the company’s novel architecture and their joint efforts to scale quantum technology.
What is Photonic?
Photonic is on the cusp of delivering one of the first scalable, fault-tolerant quantum computing and networking platforms, with a focus on silicon-based spin qubits. With its headquarters in Vancouver and expanding presence in the US and the UK, Photonic is set to redefine the quantum computing landscape.