Vancouver-based Photonic, a global leader in distributed quantum computing, has raised $180M CAD (US$130m in the first close of its latest investment round led by Planet First Partners with participation from new investors Royal Bank of Canada (RBC), TELUS and others.)
Existing investors including BCI and Microsoft also returned, bringing total funding to $375m CAD (US$271m).
The funding reinforces confidence in Photonic’s rapid growth and its climate-focused technology ambitions. The company is accelerating progress toward fault-tolerant quantum systems using its Entanglement First Architecture, which combines silicon-based qubits with native photonic connectivity. This approach is designed to scale across existing global telecom infrastructure and the Internet.
With the new capital, Photonic will advance key product milestones toward commercialisation, expand its technical and business teams and deepen customer and partner engagements.
Photonic’s platform is distributed by design, leveraging the manufacturability of silicon spins and the connectivity of telecom networks to scale up and scale out in parallel to reach commercial scale.
“Quantum computing can unlock breakthroughs in clean energy, advanced materials and human health that are beyond the reach of classical systems,” said Nathan Medlock, Managing Partner, Planet First Partners.
“Photonic’s architecture provides a credible path toward utility-scale systems that could accelerate battery materials, low-carbon catalysts and drug design.”
Paul Terry, CEO, Photonic, said the round attracted financial investors and strategic partners from sustainability, telecommunications, finance and security supporting commercialisation and long-term global market adoption for quantum technologies.
