Photonic Closes $200 Million Round at $2 Billion Valuation for Quantum Computing
Updated
Updated · Pulse 2.0 · May 13
Photonic Closes $200 Million Round at $2 Billion Valuation for Quantum Computing
5 articles · Updated · Pulse 2.0 · May 13
$200 million in new funding values Vancouver-based Photonic at $2 billion post-money and lifts its total capital raised above $350 million.
Planet First Partners led the round, which added BDC, Export Development Canada, Bell Ventures, Firgun Ventures and InBC, while Mubadala Capital, Microsoft, RBC and TELUS also backed the company across the round's closes.
Photonic said the money will fund technical milestones, hiring and partnerships as it pushes fault-tolerant quantum computing using silicon-based qubits linked through native photonic connectivity over existing fiber networks.
The company, with more than 160 staff across Canada, the U.S. and the UK, said it is already working on customer commitments including Canada's Quantum Champions Program and DARPA's Stage B quantum benchmarking effort.
With its new $200M, when can Photonic’s quantum computer actually start solving problems like drug discovery and climate change?
Is Photonic’s bet on existing fiber networks the key to winning the global quantum race, or a critical vulnerability?
$200 Million Boost: Photonic Inc. Accelerates Scalable Quantum Computing with Global Investor Backing
Overview
Photonic Inc. secured a major $200 million funding round in May 2026, following an initial close in January, with strong backing from both new strategic investors like RBC and TELUS and returning supporters such as BCI and Microsoft. This infusion not only highlights growing confidence in Photonic’s technological progress but also signals the broader potential of quantum computing. The funding brings substantial financial resources, strategic partnerships, and expanded market access, positioning Photonic to accelerate its advancements and play a leading role in the rapidly evolving quantum technology sector.