Phasecraft Raises $34 Million to Accelerate Quantum Computing Advancements.

Phasecraft, a quantum algorithms company, raised $34 million in Series B funding to accelerate its work in transforming quantum computing's theoretical promise into practical applications. The funding will help the company double down on R&D breakthroughs and expand industrial efforts. Phasecraft's algorithms are already delivering meaningful results and the company is working with end-users such as Johnson Matthey, Oxford PV, and BT.

Quantum algorithms company Phasecraft has secured $34 million in Series B funding to accelerate its research and development efforts in transforming quantum computing's theoretical promise into practical applications. The round was co-led by Plural, existing investor Playground Global, and Novo Holdings‘ Quantum Fund, bringing the total capital raised to over $50 million, including grant funding [1].

Phasecraft focuses on developing hardware-agnostic quantum algorithms that leverage quantum computing as a partner to standard computing. This approach aims to make today's Noisy Intermediate Scale Quantum (NISQ) devices more effective in addressing real-world problems. The company's partnerships with hardware providers such as Google Quantum AI, IBM, Quantinuum, and QuEra, and end-users like Johnson Matthey, Oxford PV, the UK’s National Energy System Operator (NESO), and BT, reflect its commitment to practical quantum applications [1, 2].

The funding will be used to double down on R&D breakthroughs and expand industrial efforts. Phasecraft's algorithms are already showing promise in making material simulations millions of times more efficient, which could accelerate the design of new solar cells, catalysts, or medicines. The company's hybrid approach, pairing quantum devices with classical computing, delivers solutions that can simulate complex materials, optimize energy grids, and tackle problems in biological research [2].

Co-founder and Chief Executive Ashley Montanaro commented, "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, while our partnerships with the world's top quantum hardware providers increase the impact our algorithms will have for commercial applications."

The Series B round also included participation from LocalGlobe Management Ltd., Albion Capital Group LLP, and Parkwalk Advisors Ltd. [1].

References:
[1] https://quantumcomputingreport.com/phasecraft-raises-34-million-in-series-b-funding-to-advance-quantum-algorithm-development/
[2] https://siliconangle.com/2025/09/02/phasecraft-secures-34m-accelerate-practical-quantum-computing-solutions/