Microsoft Supports Photonic's C$180 Million Funding for Quantum Computing Development
Photonic, a spin-off from Simon Fraser University, has secured C$180 million in venture financing, led by Planet First Partners, to advance its quantum computing development. This funding follows a near-$100 million raise in November 2023 and includes new investors such as RBC, BCI, and TELUS. Co-founder Stephanie Simmons anticipates that Photonic will become the first to provide a fault-tolerant quantum solution within five years, utilizing an innovative 'Entanglement First' architecture.
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Photonic, a spin-off from Simon Fraser University, raised C$180 million ($130 million) in venture financing, led by Planet First Partners. This follows a near-$100 million fundraising in November 2023 and ongoing collaboration with Microsoft.
New investors include RBC, BCI, and TELUS. Photonic aims to deliver scalable quantum computing using silicon color centers and fiber-optic links. Co-founder Stephanie Simmons projects Photonic will become the first to offer a fault-tolerant quantum solution within five years. Their 'Entanglement First' architecture combines silicon qubits with photonic connectivity, targeting applications in sustainability and finance.
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