Phasecraft raises £25.3m Series B funding from Plural, Playground Global, and Novo Holdings to advance quantum algorithms.
The round was co-led by Plural, Playground Global, and Novo Holdings.
Phasecraft develops hardware agnostic quantum algorithms designed to bridge the gap between noisy current hardware and practical commercial applications. The company focuses on solving complex problems in material science, biology, and energy networks.
Phasecraft has secured £25.3m in Series B funding to accelerate its research and development efforts in quantum algorithms. The round was co-led by Plural, Playground Global, and Novo Holdings, with additional participation from AlbionVC, Latitude, and Parkwalk Advisors. The capital will enable the company to deepen its technical breakthroughs and expand industrial partnerships.
The firm has established collaborations with major technology and industrial names, including Google Quantum AI, IBM, and Johnson Matthey. This latest investment follows recent expansion into the United States and brings total funding to over $50m including grants.
From the founder
"We’re actively creating quantum advantage at Phasecraft. Our algorithms are delivering meaningful results now, whether it’s simulating the physics of complex materials or optimizing the structure of a large energy network, whilst our partnerships with the world’s top quantum hardware providers increase the impact our algorithms will have for commercial applications. We’re delighted to have the backing of our visionary investors such as Plural, Playground Global, and Novo Holdings, to support us on the mission to bring quantum advantage to the world faster."
Ashley Montanaro
CEO at Phasecraft
Investor perspective
"Phasecraft is revolutionizing the quantum landscape in ways that were previously thought impossible. It’s hardware-agnostic approach means it’s been able to work with several of the world’s most powerful computing devices, creating algorithms that are more efficient by factors of millions and that are now helping to solve real-world problems like material discovery and the optimization of our energy networks."
Ian Hogarth
Partner, Plural
Use of funds
- 01Fund research and development
Investors
Ian Hogarth
Plural
Peter Barrett
Playground Global
Jeroen Bakker
Novo Holdings
Albion
Latitude
Parkwalk Advisors
Categories
About the company
Phasecraft
Phasecraft builds high efficiency quantum algorithms for material discovery and energy optimisation.