Phasecraft is a company.
Phasecraft has raised $57.0M across 4 funding rounds.
Key people at Phasecraft.
Phasecraft has raised $57.0M in total across 4 funding rounds.
Phasecraft is a quantum algorithms company developing hardware-agnostic algorithms that enable today's Noisy Intermediate-Scale Quantum (NISQ) devices to solve complex problems in materials science, energy, telecom, life sciences, and beyond, partnering with quantum hardware leaders like Google Quantum AI, IBM, Quantinuum, and QuEra.[1][2][3][4] It serves end-users such as Johnson Matthey (specialty materials), Oxford PV (solar cells), the UK’s National Energy System Operator (NESO), and BT (telecom), addressing limitations of classical computing by simulating materials millions of times more efficiently, optimizing energy networks, and advancing drug development for genetic conditions.[1][2][5] With over $50 million raised including a recent $34 million Series B in September 2025 co-led by Plural, Playground Global, and Novo Holdings, Phasecraft is accelerating R&D, hiring, US/Europe expansion, and industrial applications to deliver quantum advantage now rather than waiting for fault-tolerant hardware.[1][2][3]
Phasecraft was founded in 2019 as a spinout from University College London (UCL) and the University of Bristol, supported by UCL's technology transfer office UCLB.[4][5][6] The co-founders are quantum scientists Ashley Montanaro (CEO, Professor at University of Bristol), Toby Cubitt (CTO, Professor at UCL Computer Science), and John Morton (Director, Professor at UCL London Centre for Nanotechnology).[2][4][5] The idea emerged from their academic research, recognizing the need to aggressively advance algorithms to make quantum computing useful on imperfect, noisy hardware today—rather than deferring to future perfect machines—drawing on insights from theoretical physics, computer science, numerical simulations, and hardware knowledge.[1][2][4] Early traction built through partnerships with top quantum hardware providers and end-users, culminating in the Series B funding that validates their momentum toward commercial quantum applications.[1][3][5]
Phasecraft rides the convergence of quantum hardware and software toward commercial utility, capitalizing on NISQ devices' maturation amid surging demand for quantum-enhanced computing in climate-critical areas like energy resilience and materials for solar/net-zero tech.[1][5][6] Timing is ideal as hardware from Google/IBM advances but remains noisy, making Phasecraft's efficient algorithms essential to unlock value sooner—Novo Holdings' first Quantum Fund investment signals pharma's (e.g., Novo Nordisk) push into quantum for drug discovery.[2][3] Market forces like deep-tech investor interest (Plural, Playground Global) and UK/US policy support for quantum amplify this, with Phasecraft influencing the ecosystem by proving quantum-classical hybrids solve "inaccessible" problems, accelerating adoption across energy, telecom, and life sciences.[1][7]
Phasecraft is poised to scale quantum advantage commercially, using Series B funds for R&D expansion, US/Europe business development, and deeper end-user pilots, potentially dominating hardware-agnostic software as NISQ evolves to fault-tolerant systems.[1][2][3] Trends like quantum-pharma crossovers (Novo), energy optimization for net-zero, and material discovery will propel growth, with partnerships amplifying hardware integrations. Its influence could evolve from algorithm pioneer to ecosystem enabler, delivering outsized impact in high-stakes industries—solidifying its role in bringing quantum's promise to practical reality faster.[1][3][6]
Key people at Phasecraft.
Phasecraft has raised $57.0M in total across 4 funding rounds.
Phasecraft's investors include LocalGlobe, Parkwalk Advisors, Playground Global, Ian Hogarth, CRV, Kima Ventures, Mango Capital, Seedcamp.
Phasecraft has raised $57.0M across 4 funding rounds. Most recently, it raised $34.0M Series B in September 2025.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2025 | $34.0M Series B | LocalGlobe, Parkwalk Advisors, Playground Global, Ian Hogarth | |
| Aug 1, 2023 | $17.0M Series A | LocalGlobe, Parkwalk Advisors, Playground Global, Ian Hogarth | |
| Dec 1, 2020 | $5.0M Seed | CRV, Kima Ventures, LocalGlobe, Mango Capital, Parkwalk Advisors, Playground Global, Seedcamp, Ian Hogarth | |
| Mar 1, 2019 | $990K Seed | LocalGlobe, Parkwalk Advisors, Playground Global, Ian Hogarth |
