Phasecraft Receives £750,000 Investment for Quantum Computing
(Bristol.ac.uk) Phasecraft, a pioneering quantum computing company co-founded by academics from University College London (UCL) and the University of Bristol has received £750,000 investment from the UCL Technology Fund, along with co-investors Parkwalk Advisors and the London Co-investment Fund.
Phasecraft is developing software for quantum computers to solve problems beyond the capacity of today’s best classical computers. The company is building an understanding of the capabilities of current and near-term quantum computers, and how it can be channeled into useful applications.
The Phasecraft team includes some of the world’s leading researchers in quantum computing, with a collective 50 years of experience working in the field. The team are moving beyond writing academic papers, to using their theories to bring the technology of the future into today.
David Grimm, Investment Director, UCL Technology Fund, says: “Phasecraft is at the forefront of what is an incredibly specialised field. Fulfilling their objective of developing quantum computing to a level where we could solve previously unsolvable problems would make the company highly valuable to the world’s tech giants. We are excited to begin working with the team at this early stage.”