Phasecraft’s Algorithms Compete in $5M XPRIZE, Backed by Google
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Phasecraft has been named a finalist in the $5 million XPRIZE Quantum Applications competition, advancing from an initial pool of over 800 teams and a rigorous evaluation process. Launched in March 2024 with backing from Google Quantum AI and the Geneva Science and Diplomacy Anticipator (GESDA), the challenge seeks practical quantum computing algorithms to address real-world problems. Phasecraft, selected as one of seven finalists, proposed new quantum algorithms for materials property computation, aiming to enhance existing classical methods and directly compute properties on quantum hardware—a strategy focused on achieving quantum advantage. This selection recognizes Phasecraft’s position as a leading company in the field of quantum algorithms. XPRIZE Quantum Applications Competition & Selection Phasecraft has been named a finalist in the $5 million XPRIZE Quantum Applications competition, advancing from over 800 initially interested teams. Launched in March 2024, the competition—backed by Google Quantum AI and GESDA—seeks practical quantum computing algorithms to address real-world challenges. An independent panel of experts selected Phasecraft as one of seven finalists, prioritizing algorithmic innovation, resource reasoning, and clear paths toward achieving quantum advantage. For the XPRIZE submission, Phasecraft proposed two new quantum algorithms focused on improving the accuracy of material property calculations. These algorithms aim to enhance existing classical methods and directly compute properties on a quantum computer. By utilizing the quantum computer for the most challenging parts of these calculations, the team anticipates achieving more accurate electronic structures—critical for advancements like high-performance battery development. Phasecraft is building on existing breakthroughs in quantum algorithms for areas including materials discovery, chemistry, and logistics. The company recently secured $34 million in Series B funding and launched Mondrian, a commercial quantum-enhanced optimization platform. This positions Phasecraft for increased scale and impact, contributing to the global effort to accelerate practical applications of quantum computing as demonstrated by its participation in the XPRIZE challenge. Phasecraft’s Quantum Algorithms for Materials Discovery Phasecraft advanced to the final round of the $5 million XPRIZE Quantum Applications competition, selected from over 130 teams initially, and more than 800 that expressed interest. Launched in March 2024, the challenge, backed by Google Quantum AI and GESDA, aims to develop practical quantum algorithms. Judges prioritized algorithmic innovation, resource reasoning, and pathways toward achieving quantum advantage, recognizing Phasecraft’s work among a final seven teams. For the XPRIZE submission, Phasecraft proposed two new quantum algorithms specifically for materials property computation. One algorithm enhances existing classical methods using quantum computation, while the other directly computes properties on a quantum computer. This approach aims to achieve more accurate electronic structures than current classical methods, with potential impact on areas like high-performance battery development. Phasecraft is already focused on delivering breakthroughs in quantum algorithms for materials discovery, alongside applications in chemistry, energy, and logistics. The company recently launched Mondrian, its quantum-enhanced optimization platform, and secured $34 million in Series B funding. This positions Phasecraft for a new phase of growth and impact, contributing to the advancement of real-world quantum applications. We’re honoured that Phasecraft’s materials team was selected as finalists in the XPRIZE Quantum Applications grand challenge – one of the most significant global efforts to accelerate real-world quantum impact.Professor Toby Cubitt Source: https://phasecraft.io Tags: Quantum News As the Official Quantum Dog (or hound) by role is to dig out the latest nuggets of quantum goodness. There is so much happening right now in the field of technology, whether AI or the march of robots. But Quantum occupies a special space. Quite literally a special space. A Hilbert space infact, haha! Here I try to provide some of the news that might be considered breaking news in the Quantum Computing space. Latest Posts by Quantum News: ETSI Launches Quantum Tech Committee with 90+ Global Participants December 10, 2025 “Build Something Quantum” Platform Cuts Chip Design Time by 90.
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