U.K. Firm Phasecraft Demonstrates Quantum Computing Advance, Accelerating Timescale to Quantum Advantage

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Phasecraft demonstrates significant quantum computing advance, bringing forward the timescale to reach quantum advantage

  • Phasecraft optimised quantum algorithms for solving the notorious Fermi-Hubbard model on near-term hardware

  • New peer-reviewed research study details how Phasecraft algorithms and analysis significantly lessen the quantum hardware capability needed to solve problems beyond classical computing 

  • The research findings, selected by editors of Physics journal, bring practical quantum computing steps closer to reality

  • Phasecraft is also announcing largest seed funding round for quantum company in the UK at £3.7m/$5m, bringing total equity and grant funding to over £5.5m/$7m+

London and Bristol – 10 December 2020 – Phasecraft has achieved a milestone for quantum computing research, bringing quantum theory from research to reality, faster. A team of Phasecraft researchers led by co-founder Dr. Ashley Montanaro developed and tested algorithms to optimise and predict the quantum hardware capacity needed to run meaningful programs, solving complex problems beyond the realms of classical computing.

The Fermi-Hubbard model is of fundamental importance in condensed-matter physics as a model for strongly correlated materials and a route to understanding high-temperature superconductivity. Finding the ground state of the Fermi-Hubbard model has been predicted to be one of the first applications of near-term quantum computers, and one that offers a pathway to understanding and developing novel materials.

Dr. Ashley Montanaro, research lead and cofounder of Phasecraft: “Quantum computing has critically important applications in materials science and other domains. Despite the major quantum hardware advances recently, we may still be several years from having the right software and hardware to solve meaningful problems with quantum computing. Our research focuses on algorithms and software optimisations to maximise the quantum hardware’s capacity, and bring quantum computing closer to reality.”

“Near-term quantum hardware will have limited device and computation size. Phasecraft applied new theoretical ideas and numerical experiments to put together a very comprehensive study on different strategies for solving the Fermi-Hubbard model, zeroing in on strategies that are most likely to have the best results and impact in the near future.”Phasecraft Logo Phasecraft Founders Cubitt Morton Montanaro

Founders, T. Cubitt, J. Morton, A. Montanaro.  Image: Phasecraft. 

“The results suggest that optimising over quantum circuits with a gate depth substantially less than a thousand could be sufficient to solve instances of the Fermi-Hubbard model beyond the capacity of a supercomputer. This new research shows significant promise for the capabilities of near-term quantum devices, improving on previous research findings by around a factor of 10.”

The peer-reviewed research paper is featured in Physical Review B, published by the American Physical Society, the top specialist journal in condensed-matter physics. It was also chosen as an Editors’ Suggestion and to appear in Physics magazine. 

Since it was founded in 2019, Phasecraft has established itself as an emerging leader in quantum research. Started by leading quantum scientists Dr Toby Cubitt, Dr Ashley Montanaro and Prof John Morton, Phasecraft has built a team to enable near-term applications of quantum computing by developing high-efficiency algorithms to optimise the capabilities of near-term quantum hardware.

Phasecraft has closed a record seed round for a quantum company in the UK with £3.7m in funding from private-sector VC investors, led by LocalGlobe with Episode1 along with previous investors. Former Songkick founder Ian Hogarth has also joined as board chair for Phasecraft. Phasecraft previously raised a £750,000 pre-seed round led by UCL Technology Fund with Parkwalk Advisors and London Co-investment Fund and has earned several grants facilitated by InnovateUK. Between equity funding and research grants, Phasecraft has raised more than £5.5m.

Dr. Toby Cubitt: “With new funding and support, we are able to continue our pioneering research and industry collaborations to develop the quantum computing industry and find useful applications faster.”

About Phasecraft

Phasecraft is taking quantum theory from research to reality, faster. Phasecraft was founded in 2019 by Toby Cubitt, Ashley Montanaro and John Morton, expert quantum scientists who had spent decades leading top research teams at UCL and University of Bristol. Phasecraft works in partnership with leading quantum hardware companies, including Google and Rigetti, academic and industry leaders, to develop high-efficiency software that evolves quantum computing from experimental demonstrations to useful applications. Learn more: www.phasecraft.io.

Source:  Phasecraft.  Phasecraft,  Phasecraft demonstrates significant quantum computing advance, bringing forward the timescale to reach quantum advantage…

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