📝 Photonic raises $180M CAD

In partnership with

News of the Day

In a significant leap for Canada’s deep-tech ecosystem, Vancouver-based Photonic Inc. has secured $180 million CAD in a first-close funding round to commercialize its "Entanglement First" quantum computing architecture. Led by London’s Planet First Partners and backed by strategic heavyweights including RBC, Telus, and Microsoft, the investment positions Photonic to transition from experimental breakthroughs to enterprise-ready services delivered via existing fiber-optic infrastructure. Unlike traditional quantum approaches that require massive, centralized cryogenic cooling, Photonic leverages silicon-based "T centre" qubits that link directly to telecom-wavelength photons, allowing quantum processors to be networked together over long distances. This modular design, which CEO Paul Terry claims is the final round needed to reach cash-flow positivity, aims to solve the "scale challenge" by providing quantum-as-a-service to thousands of companies for applications ranging from unhackable communications to advanced materials science. As the company prepares to double its commercial team and integrate with Microsoft Azure, the raise underscores a broader industry consolidation where Photonic intends to serve as a sovereign Canadian "anchor company" in the global race for fault-tolerant, utility-scale quantum systems.

If you have tweets you want to submit to be featured here (from you or someone you like), reply to this email with a link!

Chart of the Day