Phasecraft

Overview

Phasecraft is a UK company that writes the instructions rather than building the machines. Its team designs quantum algorithms, the step-by-step methods that decide how a quantum computer solves a problem, and tunes them to the limits of present-day hardware. The central idea is that a clever algorithm can reduce the number of operations needed so that a useful result fits within what a noisy machine can do.

The company concentrates on materials and chemistry, where quantum computers have a natural advantage, and on optimization of large networks such as energy grids. It works with partners who run the algorithms on real hardware and with industrial customers who supply the problems.

History and background

Phasecraft was founded in 2019 by Toby Cubitt and John Morton of University College London and Ashley Montanaro of the University of Bristol, three professors with long research records in quantum algorithms and quantum devices. It raised a Series A of about 13 million pounds in 2023, led by Playground Global.

In September 2025 it announced a 34 million dollar Series B co-led by Plural, Playground Global, and the Quantum Fund of Novo Holdings, which made its first direct investment in quantum software. Total funding exceeded 50 million dollars. In June 2026 the company announced a strategic collaboration with Atom Computing on next-generation materials quantum computing.

How the technology works

A quantum algorithm for simulating a material, such as a model of electrons moving in a solid, usually needs many gates, and the number of gates grows quickly with the size of the system. Phasecraft invents ways to represent the same physics with far fewer operations, by exploiting the structure of the problem and by compiling it carefully for the particular hardware that will run it. The company says its methods can make materials simulation millions of times more efficient than earlier approaches, a claim based on its own and published resource estimates.

Working on noisy machines also means designing around errors. Phasecraft combines algorithm design with error mitigation, which uses extra measurements and classical post-processing to reduce the effect of noise. It also studies how many qubits and operations a future fault-tolerant computer would need to run an industrially relevant simulation, which tells hardware makers what to build.

These results should be read with care. Showing that a quantum computer can simulate a model of a material faster than the best classical method on a specific benchmark is different from showing it can predict the behavior of a real product material better than existing tools. Phasecraft's goal is to bridge that gap, and the outcome depends on hardware progress as well as algorithms.

Products and platforms

Key milestones

Strengths and challenges

Strengths

• Founders with strong academic records in quantum algorithms and devices.
• Partnerships with several of the leading hardware companies, so the algorithms are tested on varied machines.
• Industrial partners with real problems, including Johnson Matthey, Oxford PV, NESO, and BT.
• A hardware-agnostic position that does not depend on one qubit technology succeeding.

Challenges and open questions

• Algorithm gains do not remove the need for better hardware, so useful results depend on machine progress.
• Advantage claims on benchmark models may not carry over to real industrial materials.
• Funding is smaller than that of hardware competitors, and the company must prove commercial revenue.
• Large technology companies employ their own algorithm teams and could compete.

Why it matters

Phasecraft is a good example of the algorithm layer of the quantum industry. Many people assume progress depends only on qubits, but the number of qubits needed to solve a problem is set by the algorithm. A better algorithm can bring a useful application years closer.

It is also a useful company to follow for a realistic view of near-term applications. Its focus on materials and energy is where researchers broadly expect the earliest valuable uses of quantum computers, which makes its progress a good indicator of whether the field is on track.

Latest news

• Atom Computing and Phasecraft announce a strategic collaboration on next-generation materials quantum computing — June 2026
• Phasecraft raises a 34 million dollar Series B co-led by Plural, Playground Global, and Novo Holdings' Quantum Fund — September 2025

Frequently asked questions

This profile is written for educational purposes and summarizes public announcements, company filings, and published research. Last reviewed: September 30, 2026. It is not investment advice. Check the company's official channels for the latest figures and claims.

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