Photonic secures $130M to accelerate quantum computing
Photonic Inc. has pulled in fresh capital to push its distributed quantum computing strategy closer to commercial reality. The company announced a $180m CAD ($130m USD) first close of a new funding round, signaling strong momentum for quantum technologies that can scale beyond lab-sized systems.
For eeNews Europe readers working in semiconductors, photonics, and advanced networking, the news matters because Photonic’s architecture directly leverages silicon technologies and existing telecom infrastructure — areas where European industry already has deep expertise and supply chains.
Funding round with strategic weight
The round is led by Planet First Partners and includes new investors such as Royal Bank of Canada and TELUS. Existing backers, including Microsoft and BCI, also participated. With this close, Photonic’s total funding reaches $375m CAD ($271m USD).
Photonic is positioning itself around what it calls its Entanglement First Architecture, combining silicon-based qubits with native photonic interconnects. The company aims to build fault-tolerant quantum systems that operate across standard fiber networks instead of relying on a single, centralized cryogenic system.
“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 at Planet First Partners, who is joining the board. “Photonic’s distributed architecture provides a credible path to rapidly scale towards utility-scale systems – enabling innovations in areas such as battery materials, low-carbon catalysts, and drug design that can meaningfully accelerate climate solutions and improve global wellbeing.”
From architecture to applications
The new capital will be used to advance product milestones toward commercialization, expand engineering and business teams, and deepen customer and partner engagement. Moreover, according to Photonic, its approach is designed to scale using today’s global telecom infrastructure, a point likely to resonate with network equipment vendors and photonics suppliers.
“Photonic’s game-changing approach to deliver on the decades-old promises of quantum computing continues to be fueled by committed investors and best-in-class employees,” said Paul Terry, CEO of Photonic. “This funding round attracted not only new financial investors but also partners from sectors poised to be transformed by quantum technology — including sustainability, telecommunications, finance, and security.”
Investors echoed that cross-sector potential. “This marks our first direct equity investment in a quantum computing company, and we’re proud to support Photonic as they pioneer the next era of distributed quantum technologies,” said Barrie Laver of Royal Bank of Canada. TELUS Global Ventures’ Terry Doyle added that quantum computing will “fundamentally reshape secure telecommunications infrastructure.”
Evercore acted as the sole placement agent on the raise, which reinforces Photonic’s growing profile as a contender in the race toward practical, fault-tolerant quantum computing.
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