Coquitlam’s Photonic has closed a sizeable round of financing at a company valuation of nearly $3 billion.
Announced today at Web Summit Vancouver, the quantum computing company closed its funding round, which started in January, at over US$200M.
The round, led by UK-based Planet First Partners, brings total capital raised by Photonic to nearly $500M, and included contributions from the Business Development Bank of Canada, Export Development Canada, Bell Ventures, Firgun Ventures, InBC Investment, Mubadala Capital, Royal Bank of Canada, TELUS, the British Columbia Investment Management Corporation, and Microsoft.
“This financing unites government, strategic partners, and international investors around a shared conviction: that commercial-scale quantum computing is within reach, and that its economic impact will be transformative,” remarked Don Mattrick, who took over as chief executive officer in March.
“We will use this funding to continue to hit key milestones, grow our team, and deepen the partnerships that will take us there,” Mattrick stated.
Photonic is accelerating fault-tolerant quantum computing through its Entanglement First Architecture, an approach combining silicon-based qubits and native photonic connectivity to enable global scaling across global telecom infrastructure.
“Distributed architectures will be an important way to scale quantum technology,” believes Zulfi Alam of Microsoft Quantum, “and Photonic is an important partner in advancing that future.”
Photonic’s design “allows quantum systems to operate over today’s fibre infrastructure, offering a practical and scalable path toward the large‑scale systems that transformative applications will demand,” the corporate vice president commented.
Photonic is “advancing scalable quantum capabilities, working with leading global partners, and building on a strong base of Canadian talent,” according to Peter Suma, who serves as Managing Partner of the StrongNorth Fund for BDC.
Photonic’s innovation “is pushing the boundaries of advanced computing and data infrastructure, helping to build the next generation of scalable quantum technologies that can integrate with global cloud and compute ecosystems,” says Guillermo Freire, Senior Vice-President, Mid-Market Group, Export Development Canada.
Nazim Benhadid, Chief Technology Officer of TELUS, says the telecom titan has already “seen firsthand how Photonic’s Entanglement First Architecture can seamlessly integrate with our PureFibre infrastructure to deliver transformative quantum capabilities.”
Benhadid says Photonic’s tech is “at the forefront of quantum innovation” and will “reshape industries and create secure, connected solutions for the future.”
Photonic recently earned international recognition at the 2026 iF DESIGN Awards.
Leave a Reply