Photonic, building one of the world’s first scalable, fault-tolerant and unified Quantum Computing and networking platforms based on photonically linked silicon spin qubits, has confirmed raising an investment round of $100M USD.
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 spin-photon interface.
The technology leverages the memory and computing capabilities of spins and the connectivity of photonics to build one of the world’s first scalable, fault-tolerant, and networked quantum computers.
“Photonic’s game-changing approach to deliver on the decades-old promises of Quantum Computing continues to be fuelled by our committed investors and best-in-class employees,” said Paul Terry, CEO, Photonic.
Hermann Hauser, Co-founder and Venture Partner, Amadeus Capital Partners, said: “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 is able to keep pace – this is an innovation with awesome potential.”
“Since our initial investment in Photonic, the company has reached several major technical milestones related to developing secure quantum solutions, while establishing key commercial partnerships,” said Gordon J. Fyfe, Chief Executive Officer and Chief Investment Officer, British Columbia Investment Management Corporation (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 first fault-tolerant quantum computers in the world.”
