Based on UCL and Bristol research, Phasecraft is a member of a UK government-backed quantum collaboration driven by both universities together with the Google Quantum AI Lab.
Phasecraft, a UK-based quantum computing software developer based on research from University College London (UCL) and University of Bristol, has secured an undisclosed sum from fund manager Parkwalk Advisors’ Opportunities EIS Fund.
Founded in February 2018, Phasecraft is working on software for quantum computing processors including smaller-scale models classified as “near-term intermediate-scale quantum” (NISQ) that have been devised while the industry attempts to solve obstacles to scaling the technology.
NISQs are not error-corrected and lack the processing power fully-scaled quantum systems could theoretically achieve, however it is hoped they will still be useful for applications where conventional computers might struggle, for example in materials science or chemical discovery.
Phasecraft will also develop software for fully fault-tolerant quantum computers should they become available.
The company is a member of the UK government-backed Prosperity Partnership collaboration, which includes UCL’s Quantum Science and Technology Institute, University of Bristol’s Quantum Information Institute and the Google Quantum Artificial Intelligence (AI) Lab.
Prosperity Partnership launched in September 2018 to explore and develop quantum software for modelling and simulation purposes, with the goal of laying the foundations for a quantum software development industry in the UK.
Google AI Lab is a joint initiative of diversified technology firm Alphabet’s Google subsidiary, US government agency Nasa and international nonprofit body Universities Space Research Association.
Phasecraft does not appear to have previously disclosed equity funding.