Phasecraft, a quantum algorithms company, has raised $34 million in Series B funding. The round was co-led by Plural, existing investor Playground Global, and Novo Holdings‘ Quantum Fund, with additional participation from existing investors AlbionVC, Latitude, and Parkwalk Advisors. This new funding brings the total capital raised to over $50 million, including grant funding, and will be used to accelerate Phasecraft’s research and development and expand industrial efforts.
Phasecraft develops hardware-agnostic quantum algorithms using a quantum-enhanced approach that leverages quantum computing as a partner to standard computing. This approach is intended to enable today’s Noisy Intermediate Scale Quantum (NISQ) devices to address problems. The company has partnerships with hardware companies, including Google Quantum AI, IBM, Quantinuum, and QuEra, which are noted for increasing the impact of their algorithms.
The company is working with end-users such as specialty materials developer Johnson Matthey, solar cell developer Oxford PV, the UK’s National Energy System Operator (NESO), and telecommunications provider BT. The goal is to develop practical quantum applications for sectors such as material discovery, chemistry applications, energy networks, and logistics optimization.
Read the full announcement here.
September 2, 2025
In GQI Portal
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