Quantum Computing Is Years Away. This Startup Says Its Software Can Get There Faster.

📆 8/16/2023 9:18 AM
📰 BNNBloomberg

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A British startup spun out from University College London and the University of Bristol raised £13 million ($16.5 million) to develop algorithms designed for quantum machinery, such as those being developed by Alphabet Inc.’s Google and International Business Machines Corp.

Phasecraft Ltd. said it’s working to develop proof-of-concept products for the UK government, but declined to name the agency. It said it would use the new funding to research software that runs on future quantum processors and speed up the study and discovery of components for use in electric batteries and solar panels.

Phasecraft, which has 20 employees, declined to share its valuation after the recent financing, led by California-based Playground Global. “Quantum computers are not there yet,” said Araceli Venegas-Gomez, a physicist who runs Qureca, a quantum professional development firm. “We don’t need a perfect quantum computer to start first understanding why we should care.”

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