Photonic raises $100 million for quantum technology from BCI, Microsoft and other investors –
Total funding of US$140 million to date is fueling fast-paced development A scalable and fault-tolerant platform for quantum computing and networking
Vancouver, British Columbia, November 8, 2023— Optical Inc., a company building one of the world’s first scalable, fault-tolerant and unified quantum computing and networking platforms based on optically coupled silicon spin qubits, today announced it has raised a $100 million investment round. Funds were raised from organizations including British Columbia Investment Management Corporation (BCI), Microsoft CorporationUK Government National Security Strategic Investment Fund (NSSIF), Inovia CapitalAnd Amadeus Capital Partners. This brings the company’s total funding raised to date to US$140 million.
Photonic is making fault-tolerant quantum technologies a reality with its unique silicon photonic interface. The technology leverages the memory and computing capabilities of spin and photonics to build one of the world’s first scalable, fault-tolerant, networked quantum computers. The company employs more than 120 employees and is headquartered in Canada, and has recently opened offices in the United Kingdom and the United States.
“Photonic’s game-changing approach to delivering on the decades-old promises of quantum computing continues to be supported by committed investors and best-in-class employees,” said Paul Terry, CEO of Photonic. “The backing of these knowledgeable investors who believe in our work is a testament to our team, our technology and the direction we are headed.”
Hermann Hauser, co-founder and partner at Amadeus Capital Partners, added: “Photonik solves one of the key challenges facing scalable quantum computing. By connecting qubits to photons in a silicon-based architecture, the power of quantum processing can be unleashed across a distributed computing network with “Confidence that debugging can keep up with the pace. This is an innovation with huge potential.”
“Since our initial investment in Photonic, the company has reached several key technical milestones related to developing secure quantum solutions, while establishing key commercial partnerships,” said Gordon J. Fife, CEO and Chief Investment Officer of BCI. “As one of Photonic’s largest shareholders, BCI is excited to partner with its management team with the goal of developing one of the world’s first fault-tolerant quantum computers.”
In related news, Photonic also announced today Photonic partners with Microsoft to power global quantum ecosystemAnd Accelerate the transformative benefits of quantum computing with a new architecture. In addition, photonic art paper, Scalable, fault-tolerant quantum technologies with silicon color coresdetails the company’s new architecture and Microsoft’s blog post, Microsoft and Photonic are collaborating on the path to quantum at scaleoffers more perspective on that company’s collaboration with Photonic.
Photonic is building one of the first scalable, fault-tolerant and unified quantum computing and networking platforms, uniquely based on quantum bits embedded in silicon. The Photonic platform provides a native communications network interface and silicon fabrication capability. Photonic is headquartered in Vancouver, Canada, and also has offices in the US and UK. To learn more about the company, visit www.photonic.com.
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