Photonic Inc. Raises $180 Million to Scale Distributed Silicon Quantum Computing

Photonic Inc. has announced a $180 million CAD ($130 million USD) first close of its latest investment round to accelerate the development of networked quantum systems. This capital injection was led by Planet First Partners, bringing the total funding for the Vancouver-based firm to $375 million CAD. The company intends to use the funds to advance its technical milestones and expand its global team.

The investment syndicate features a strategic mix of sustainability, finance, and telecommunications leaders. New participants include the Royal Bank of Canada and TELUS, alongside returning investors such as Microsoft and the British Columbia Investment Management Corporation. This diverse backing reflects a growing industry sentiment that quantum technology is transitioning into critical infrastructure for multiple sectors.

Photonic distinguishes itself by combining silicon qubits with native photonic connectivity. By using specific defects in silicon known as T-centers, the hardware can link quantum chips directly through existing telecom fiber optic networks. This architecture allows for a distributed system that scales horizontally, similar to the modular design of modern cloud data centers.

The potential applications range from designing low-carbon catalysts to optimizing complex financial risk models. Nathan Medlock, Managing Partner at Planet First Partners, noted that Photonic provides a credible path to utility-scale systems for climate solutions. Meanwhile, RBC and TELUS are targeting the technology for advanced security and next-generation telecommunications infrastructure. The leadership team, led by CEO Paul Terry and Founder Stephanie Simmons, bridges the gap between high-performance computing and world-class physics. Headquartered in Vancouver with operations in the United States and United Kingdom, Photonic now employs over 150 experts. This funding ensures the company remains a leader in the global pursuit of fault-tolerant quantum systems.