Bristol-based Phasecraft, a quantum algorithms company, announced on Wednesday that it has secured £13M (approximately €15M) in a Series A round of funding led by Silicon Valley deep tech VC Playground Global.
AlbionVC and existing investors Episode 1, Parkwalk Advisors, LCIF, and UCL Technology Fund also participated in the round.
The latest funding brings the total amount raised to £17.25M (approximately €20.21M) in venture funding and a further £3.75M (approximately €4.3M) in grant funding from the likes of Innovate UK and the European Research Council.
Phasecraft says it will use the funds to continue building a team of world-leading quantum scientists, researchers, and engineers and to further establish its position as the world leader in quantum algorithms.