Overview

• Playground Global, Plural, and Novo Holdings’ Quantum Fund co-led the financing, marking Novo’s first direct investment in quantum software.
• Phasecraft will use the capital to expand its team, accelerate R&D, and deepen commercial work in areas such as materials and energy networks, including hiring industry veteran Glenn Jones.
• The company focuses on hardware-agnostic algorithms, highlighting its THRIFT method to cut quantum operations for larger chemistry simulations, with performance claims characterized as company-reported.
• Partnerships span major hardware providers Google, IBM, and Quantinuum, and end-users including Johnson Matthey, Oxford PV, the UK’s National Energy System Operator, and BT.
• Total capital raised now exceeds $50 million including grants, alongside a growing U.S. research footprint anchored by a Washington, D.C. center led by Steve Flammia.