Photonic secures $100M for Quantum Technology from BCI and Microsoft

Nov. 9, 2023
Total funding of $140 million fuels the development of the company’s Quantum Computing and networking platform.

Photonic, a company building a quantum computing platform based on photonically linked silicon spin qubits, has raised $100 million in funding.

The funds were raised from five sources, including British Columbia Investment Management Corporation (BCI)Microsoft Corporation, the UK government’s National Security Strategic Investment Fund (NSSIF)Inovia Capital, and Amadeus Capital Partners. This brings the company’s total funding to $140 million.

Photonic is making fault-tolerant quantum technologies a reality with its unique silicon spin-photon interface. The technology leverages the memory and computing capabilities of spins and the connectivity of photonics to build a fault-tolerant, networked quantum computers. The company has over 120 employees with a head office in Canada and has recently opened offices in the United Kingdom and the United States.

“Photonic’s approach to deliver on the decades-old promises of quantum computing continues to be fueled by our committed investors and best-in-class employees,” said Paul Terry, CEO of Photonic. “The support of such knowledgeable investors who believe in our work is a testament to our team, our technology, and the direction we’re headed in.”

Hermann Hauser, Co-founder and Venture Partner, Amadeus Capital Partners, added, “Photonic is solving one of the central challenges for scalable quantum computing. By linking qubits with photons on a silicon-based architecture, the power of quantum processing can be unleashed across a distributed computing network with confidence that error correction can keep pace. This is an innovation with awesome potential.”

As it completes its latest funding round, Photonic also announced it is collaborating with Microsoft on Quantum computing. Photonic and Microsoft will provide an integrated roadmap of technologies and products that can enable quantum communications over long distances and access to Photonic’s quantum computing offering via Microsoft Azure Quantum Elements.

Additionally, a Photonic technical paper, Scalable Fault-Tolerant Quantum Technologies with Silicon Colour Centres, details the company’s novel architecture, and a Microsoft blog post, Microsoft and Photonic join forces on the path to quantum at scale, offers more perspective on that company’s collaboration with Photonic.

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