Quantum algorithm startup Phasecraft raises $13M to achieve practical quantum advantage
Founded in 2019, the company spins out from University College London and the University of Bristol. The company is working to develop next-level quantum algorithms and is nearing the critical point of quantum advantage – when quantum systems can outperform classical computers on real-world problems.
The company’s approach reinvents algorithm design using novel techniques from physics and computer science. This aims to slash the logical operations required, closing the gap between existing noisy quantum hardware and useful applications.
With partnerships across the top superconducting quantum players, Phasecraft is focused on breakthroughs in materials science for clean energy. Its record-breaking algorithms target discoveries like new battery compounds.
Playground Global’s backing will fuel driving Phasecraft’s algorithms to the cusp of practical quantum advantage. Despite hardware gains, commercially viable quantum applications remain elusive.
The company believes its physics-inspired algorithmic optimizations unlock a path to meaningful quantum applications within years, not decades.
The seasoned academic founding team offers unmatched expertise in theoretical quantum computing. Playground Global’s support validates the company’s potential to deliver on quantum’s long-running promises through sophisticated algorithms designed for near-term limitations.
In summary, Phasecraft’s fresh approach to quantum algorithm design, grounded in deep hardware awareness, aims to bridge the gap holding back real-world quantum adoption. The company hopes to pioneer commercially relevant quantum applications far earlier than previously thought possible.
Find out more about Phasecraft here.