Evaluating Progress Towards Quantum Utility

While the cutting-edge quantum hardware selected for QBI inches closer to commercial utility, ultra-efficient quantum algorithms like those Phasecraft develops are required to unlock the full potential of any quantum hardware. The company's hardware-agnostic algorithms, which in some cases are millions of times more efficient than the best previous work, enable the company to provide unique value to ARLIS, DARPA, and the USG.

Specifically, Phasecraft's work will focus on two application areas: 1) materials and molecular modeling; and 2) hard optimization problems. In both cases, Phasecraft's algorithms have pushed the boundaries of what was thought possible, and radically shortened the timeline to quantum advantage - the point at which quantum computers will outperform classical methods. This enables the company to produce far more accurate estimates of when quantum will deliver true utility to users across application areas.

"The team at DARPA has long understood the strategic importance of quantum computing and we are thrilled at the opportunity to collaborate on this vital work, working alongside ARLIS," saidAshley Montanaro, co-founder and CEO of Phasecraft."For all the emphasis we see on hardware in the field, it is gratifying to have a government partner like DARPA appreciate the importance of quantum algorithms in the race to achieve industrially useful quantum computing. Our quantum algorithms are delivering meaningful results today, and we're excited to join the impressive QBI team."

Building on Momentum

A preferred research partner for all the leading hardware companies like Google Quantum AI, IBM, Quantinuum and QuEra, Phasecraft prioritizes making quantum useful in the near term. InOctober, Phasecraft unveiled Mondrian, its first-of-a-kind quantum-enhanced software platform designed to speed up classical optimization algorithms and apply them to hard optimization and constraint satisfaction problems across several industries. Mondrian demonstrates how classical and quantum computing can work together to tackle some of the most complex optimization problems facing industries such as energy, finance, and logistics.

This contract comes on the heels of the company's recent $34M Series B fundraising announcement. The new funding brings the total raised to over $50M - including grant and contract funding - and will allow the company to double down on its R&D breakthroughs and expand industrial efforts, building real-world solutions for end users.

About Phasecraft

Phasecraft is the UK and U.S-based quantum algorithms company whose mission is to accelerate the practical application of quantum computing by redesigning quantum algorithms for the imperfect quantum computers of today. Phasecraft was founded in 2019 by Toby Cubitt, Ashley Montanaro, and John Morton, expert quantum scientists who have spent decades leading top research teams at UCL and the University of Bristol. Phasecraft works in partnership with leading quantum hardware companies, including Google, IBM, Quantinuum, and QuEra, academic and industry leaders, to develop high-efficiency algorithms to move quantum computing from experimental demonstrations to useful applications. Learn more: www.phasecraft.io

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