About
Phasecraft is a quantum software company developing quantum algorithms that run on today's noisy intermediate-scale quantum, or NISQ, devices. Its approach is hardware-agnostic, rewriting quantum algorithms to run efficiently on NISQ machines from Google, IBM, Quantinuum, and QuEra. The company's algorithms are more efficient by factors of millions for material discovery and energy optimization. On September 2, 2025, Phasecraft announced a $34 million Series B funding round, co-led by Plural, Playground Global, and Novo Holdings' newly launched Quantum Fund, which made its first direct investment in quantum software. Existing investors LocalGlobe, AlbionVC, and Parkwalk Advisors also participated, bringing total capital raised above $50 million. The funding supports an expanding US presence and industrial collaborations with Johnson Matthey, Oxford PV, the UK's NESO, and BT. Phasecraft developed the THRIFT algorithm, published in Nature Communications in 2025, which improves quantum simulation efficiency by 10 times and reduces computational costs by prioritizing interactions based on their speed. Its approach cuts the quantum gates needed to run simulations by factors of more than a million in some cases. Lithium copper oxide, for example, can be simulated with 410,000 quantum gates compared with a previous baseline of 1.5 trillion. Phasecraft was named a DARPA QBI collaborator and an XPRIZE Quantum Applications finalist competing for a $5M prize. The company launched Mondrian, a quantum optimization platform. Update 2026-03-03: Phasecraft is contributing to DARPA’s Quantum Benchmarking Initiative with the University of Maryland’s Applied Research Laboratory to estimate resources for utility-scale quantum computing by 2033. Source: https://quantumzeitgeist.com/phasecraft-quantum-resource-estimate/ Update 2025-12-10: Phasecraft's quantum algorithms won a $5M XPRIZE for advancing materials property computation. Source: https://quantumzeitgeist.com/phasecraft-quant
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| Quantum Focus | software |
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