UK algorithm startup nears quantum advantage

UK algorithm startup nears quantum advantage

Quantum Computing on the Verge of Revolution: Phasecraft Leading the Way

Quantum computing has long been considered a technology of the future, promising unparalleled power and capabilities. However, skeptics have often questioned when this hyped technology will actually deliver on its promises. According to Phasecraft, a UK quantum startup, that day may be closer than we think. Their secret lies in developing algorithms that can work on today’s “imperfect” quantum computers, without waiting for the hardware to catch up.

Ashley Montanaro, Phasecraft CEO and University of Bristol professor of quantum computation, believes that the day of quantum advantage is just a couple of years away. This is a bold claim, considering that no quantum computer or algorithm has so far been able to solve any significant problem. But Phasecraft aims to tap into the potential of today’s quantum computers, as well as the ones that will be available in the next few years, instead of waiting for a distant future.

The power of quantum computers lies in their ability to process vast amounts of information simultaneously using quantum bits (qubits) in superposition and entanglement. This opens up possibilities for quantum computing to make giant leaps in cryptography, chemistry, and materials science. Phasecraft is focusing its efforts on developing algorithms that can facilitate the discovery of new materials crucial for the clean energy transition.

Normally, the discovery of new materials would rely on time-consuming experimental methods that can take decades. However, quantum algorithms have the potential to simulate interactions on the quantum level, predicting how materials will behave under various conditions. This means that testing new materials can be done within the computer, drastically reducing the time from months to minutes.

By reimagining existing algorithms, Phasecraft has already developed a software pipeline that delivers a remarkable improvement of 1,000,000 times or more in comparison. Furthermore, their software can be run on the Noisy Intermediate Scale Quantum (NISQ) devices, which are currently at the cutting edge of quantum hardware. Phasecraft has forged partnerships with Google, IBM, and Rigetti, who are investing heavily in quantum hardware development. They are the only quantum software developer working with all three of these industry powerhouses.

Founded in 2019, Phasecraft was established by three professors – Ashley Montanaro, Toby Cubitt, and John Morton – all renowned quantum researchers. The company has a solid foundation in quantum research, with 17 scientific papers already published. In their latest funding round, Phasecraft raised £13 million in Series A funding, led by Silicon Valley deep tech VC Playground Global. This brings their total capital raised to £17.25 million in venture funding, in addition to £3.75 million in grant funding from notable organizations like Innovate UK and the European Research Council.

Phasecraft’s success and ability to attract significant funding demonstrate the immense potential and confidence in their approach. Their innovative algorithms and software unlock the power of today’s quantum computers, offering a glimpse into what the future holds. By partnering with industry giants and focusing on material discovery for the energy transition, Phasecraft is positioned at the forefront of quantum computing advancements.

Their journey has just begun, but with a team divided between London and Bristol and strong backing from investors, Phasecraft is poised to make a substantial impact in the world of quantum computing. Exciting times lie ahead as we eagerly await the day when quantum advantage becomes a reality.