Quantum computing has been an area of interest in Silicon Valley for some time. And now, Microsoft is betting big on a startup out of Canada who might be on the leading edge.
What’s happening:
- Vancouver, British Columbia based quantum computing startup Photonic has emerged from stealth with a $100M USD funding round
- The round was led by Microsoft and included notable participation from British Columbia Investment Management Corporation, the United Kingdom’s National Security Strategic Investment Fund, Amadeus Capital Partners, Inovia Capital and others
Why it matters:
- Many believe quantum computing technology will have unprecedented impact on drug discovery, financial modelling, artificial intelligence and even security technology
- Photonic has built what many believe is a technical breakthrough in the quantum computing space through novel spin-photon architecture
Going deeper:
- Photonic and Microsoft are entering into a partnership which aims to enable quantum communication over long distances
- Microsoft has publicly stated they believe their partnership with Photonic will unlock new scientific developments, accelerate quantum computing research and empower innovation
The intrigue:
- One of the early investors in Photonic was Don Mattrick, who is a prolific Canadian venture capitalist and formerly led Electronic Arts, Microsoft and Zynga
By the numbers:
- Photonic has raised $140M in total venture funding since inception
- Currently, Photonic has a team of 120 people spanning across Canada, the United States and the United Kingdom
