Website: [phasecraft.io](https://www.phasecraft.io) ### Introduction Phasecraft is a quantum computing company founded in 2019, with its headquarters in London and Bristol, United Kingdom. The company was co-founded by Professors Toby Cubitt, Ashley Montanaro, and John Morton, who are renowned experts in quantum computing with extensive academic backgrounds at the University of Bristol and University College London (UCL). Phasecraft’s mission is to accelerate the practical application of quantum computing by developing hardware-agnostic quantum algorithms that address real-world challenges in fields such as material discovery, chemistry, energy networks, and logistics optimization. While specific employee counts are not publicly available as of the latest data, the company is noted for its team of world-leading quantum scientists and engineers ([phasecraft.io](https://www.phasecraft.io/about)). Phasecraft is a private company, with no public stock listing or ticker symbol. Since its inception, it has emerged as a key player in the quantum computing software space, focusing on bridging the gap between theoretical quantum capabilities and practical, near-term applications. The company’s work is supported by its academic roots and a strong emphasis on research and development (R&D), positioning it as a leader in quantum algorithm innovation. ### Key Products and Technology Phasecraft specializes in quantum algorithms rather than hardware, aiming to unlock the potential of noisy, near-term quantum computers for practical use. Below are the key focus areas of their technology development: - **Quantum Algorithms for Material Discovery** - **Type**: Software/Algorithm - **Technical Specifications**: Designed to simulate and predict material properties at the quantum level, potentially reducing the computational time and resources compared to classical methods. Specific performance metrics are not publicly detailed. - **Fuel Type or Energy Source**: Not applicable (software-based). - **Key Differentiators**: Focuses on hardware-agnostic solutions that can operate on error-prone quantum computers, making them viable for near-term adoption. - **Development Stage**: Advanced R&D, with ongoing efforts to refine algorithms for real-world testing and deployment. - **Target Customers**: Industries involved in materials science, such as manufacturing and energy sectors. - **Quantum Algorithms for Chemistry Applications** - **Type**: Software/Algorithm - **Technical Specifications**: Aimed at simulating molecular interactions and chemical reactions with high precision, though exact computational advantages over classical systems are not specified in public data. - **Fuel Type or Energy Source**: Not applicable. - **Key Differentiators**: Optimized for near-term quantum hardware, reducing the need for fully fault-tolerant systems. - **Development Stage**: In active development, with potential for early industrial applications. - **Target Customers**: Pharmaceutical and chemical industries seeking faster drug discovery and material synthesis. - **Quantum Algorithms for Energy Networks and Logistics Optimization** - **Type**: Software/Algorithm - **Technical Specifications**: Focused on optimizing complex systems such as energy distribution and supply chain logistics. Detailed performance data is unavailable. - **Fuel Type or Energy Source**: Not applicable. - **Key Differentiators**: Targets practical, scalable solutions for industries with large-scale optimization challenges, leveraging quantum computing’s potential for efficiency gains. - **Development Stage**: Early-stage development with a focus on industrial partnerships for testing. - **Target Customers**: Energy utilities, logistics companies, and government agencies. Phasecraft’s emphasis on hardware-agnostic algorithms sets it apart by ensuring compatibility with a range of quantum hardware, addressing a critical barrier to adoption in the current noisy intermediate-scale quantum (NISQ) era ([Tech.eu](https://tech.eu/2025/09/02/phasecraft-raises-34m-to-bring-quantum-computing-closer-to-solving-real-world-challenges)). ### Regulatory and Licensing Status As a quantum computing software company, Phasecraft is not subject to nuclear-specific regulatory oversight such as that of the Nuclear Regulatory Commission (NRC). Instead, its operations fall under broader technology and intellectual property regulations in the UK and EU. There are no specific licensing requirements for quantum algorithms akin to those for nuclear energy technologies. However, the company must adhere to data protection and cybersecurity standards given the sensitive nature of industrial applications. There are no publicly documented regulatory milestones or timelines for commercial deployment specific to Phasecraft’s algorithms. The company’s progress is more tied to technological readiness and partnerships with quantum hardware providers and end-users for real-world testing. Estimated timelines for first commercial deployment are not explicitly stated in available sources, though their focus on near-term applications suggests potential rollout within the next few years, contingent on advancements in quantum hardware. ### Team and Leadership Phasecraft’s leadership is rooted in academic excellence and deep expertise in quantum computing. Key figures include: - **Toby Cubitt (Co-Founder)**: A Professor at UCL, Cubitt is a leading researcher in quantum information theory with a focus on quantum algorithms and complexity. He plays a pivotal role in shaping the company’s theoretical foundations. - **Ashley Montanaro (Co-Founder)**: A Professor at the University of Bristol, Montanaro specializes in quantum algorithms and computational complexity, contributing to Phasecraft’s innovative approaches to practical quantum solutions. - **John Morton (Co-Founder)**: Also a Professor at UCL, Morton is an expert in quantum technologies, particularly in hardware interfaces, guiding the company’s hardware-agnostic strategy. Specific roles such as CEO or CTO are not detailed in the latest public information, and no verified X handles for the founders are available in the current dataset. The broader team comprises quantum scientists and engineers, reflecting a strong R&D focus ([phasecraft.io](https://www.phasecraft.io/about)). ### Funding and Financial Position Phasecraft has raised significant funding to support its mission. The most recent round, announced on September 2, 2025, was a Series B funding of $34 million, co-led by Plural, Playground Global, and Novo Holdings’ Quantum Fund. This brings the total funding raised to over $50 million, including grants. The latest round will support expanded R&D and industrial partnerships to develop real-world quantum solutions ([BusinessWire](https://www.businesswire.com/news/home/20250902657177/en/Phasecraft-Raises-$34-Million-from-Plural-Playground-Global-and-Novo-Holdings-to-Bring-Quantum-Computing-Closer-to-Solving-Real-World-Challenges)). As a private company, Phasecraft does not have a public market cap or stock performance data. Key institutional investors include Plural, Playground Global, and Novo Holdings, reflecting strong backing from venture capital focused on quantum technologies. The company is pre-revenue, focusing on R&D and early-stage industrial collaborations rather than commercial-scale operations at this time ([Sifted](https://sifted.eu/articles/phasecraft-quantum-algorithms-34m-series-b)). ### Recent News and Developments | Date | Event | Details | |---------------|-------------------------------|---------------------------------------------------------------------------------------------------| | Sep 2, 2025 | Series B Funding Announcement | Phasecraft raised $34 million in a Series B round led by Plural, Playground Global, and Novo Holdings to accelerate quantum algorithm development. | | Sep 1, 2025 | Funding Coverage by Sifted | Sifted reported on Phasecraft’s $34 million round, highlighting its focus on algorithms for error-prone quantum computers. | | Sep, 2025 | University of Bristol Feature | The University of Bristol highlighted Phasecraft’s funding success and its academic origins with co-founders from Bristol and UCL. | | Early 2025 | Industrial Expansion Plans | Reports indicate Phasecraft aims to expand industrial efforts and build real-world solutions for end-users with new funding. | | Jan, 2025 | R&D Progress Updates | General updates on ongoing R&D breakthroughs anticipated, though specific milestones for the year are not yet detailed. | Note: Information beyond September 2025 is limited, and some events are based on planned activities mentioned in funding announcements ([University of Bristol](https://www.bristol.ac.uk/news/2025/september/phasecraft.html)). ### Partnerships and Collaborations Phasecraft’s partnerships are primarily focused on industrial and academic collaborations to test and deploy its algorithms. While specific partners are not extensively detailed in the latest public data, the following insights are available: - **Academic Ties with UCL and University of Bristol**: As a spinout from these institutions, Phasecraft benefits from access to cutting-edge research and talent, enhancing its algorithm development. - **Industrial Efforts**: The recent funding round is set to support partnerships with end-users in sectors like energy, materials, and logistics, though specific companies or agreements are not named in current reports ([Evertiq](https://evertiq.com/news/2025-09-03-phasecraft-raises-34m-to-advance-quantum-computing-solutions)). No government programs or offtake contracts are documented in the available information. Phasecraft’s strategy appears to prioritize flexibility through hardware-agnostic solutions, potentially broadening its partnership scope in the future. ### New Hampshire Relevance Phasecraft’s quantum computing solutions have potential relevance to [[New Hampshire]], particularly in energy and compute infrastructure contexts, though direct connections or expressed interest in the Northeast US are not evident in current data. Assessing fit for NH: - **Proximity to Infrastructure**: New Hampshire hosts [[Seabrook Station]], a nuclear power plant, and is part of the ISO-NE grid, which faces challenges in energy optimization and grid stability. Phasecraft’s algorithms for energy networks could theoretically support grid optimization, though their technology is not yet tailored to specific regional needs. - **Technology Readiness**: Phasecraft’s focus on near-term quantum applications suggests potential deployment within a 5-10 year timeline, which may align with NH’s long-term energy planning. However, quantum hardware maturity remains a limiting factor. - **Legislative Alignment**: NH’s HB 710 and provisions for advanced technologies like SMRs indicate openness to innovation, though quantum computing is not directly addressed in current [[Legislation|legislation]]. Phasecraft’s energy optimization algorithms could indirectly support legislative goals for efficiency. - **Potential Applications**: Beyond grid power, Phasecraft’s solutions could address data center energy demands (a growing sector in NH) and industrial optimization for local manufacturing. - **NH Connections**: No specific ties to NH or the Northeast US are documented. Outreach or pilot projects in the region could be a future opportunity given the area’s energy and tech needs. Phasecraft’s current stage suggests it is more likely to engage with larger, national, or international energy players before targeting specific state-level initiatives. ### Competitive Position Phasecraft operates in a competitive quantum computing landscape, focusing on software and algorithms rather than hardware. Compared to competitors: - **D-Wave Systems**: Known for quantum annealing hardware and software, D-Wave targets optimization problems similar to Phasecraft but with a hardware-specific approach. Phasecraft’s hardware-agnostic focus offers broader compatibility but may lag in immediate deployment readiness. - **Rigetti Computing**: Rigetti develops both quantum hardware and software, providing an integrated approach. Phasecraft’s pure software focus avoids hardware development risks but depends on external quantum systems for implementation. - **[[IBM]] Quantum**: [[IBM]] offers a comprehensive quantum ecosystem, including hardware and cloud-based algorithm development. Phasecraft’s niche in near-term, practical algorithms could carve out a unique space, though it lacks IBM’s scale and infrastructure. Phasecraft’s key advantage lies in its academic rigor and focus on near-term usability, but it faces risks from dependency on third-party hardware advancements and competition from integrated quantum providers. ### Closing Note Phasecraft is at an advanced R&D stage with a promising trajectory, bolstered by significant recent funding and a clear focus on practical quantum computing applications. *Report generated December 24, 2025*