Quantum Tech Startup Photonic Secures $130 Million in Funding
Vancouver-based quantum technology startup, Photonic Inc., has secured $180 million in its latest funding round, led by the U.K.’s Planet First Partners, with returning investors British Columbia Investment Management Corporation and Microsoft participating alongside new investors, such as the Royal Bank of Canada, TELUS, among others. Photonic will use the funds to expand its business and technical teams and further the commercialization of its technology.
Photonics’ announcement follows a mid-December notice from the Minister of Artificial Intelligence and Digital Innovation, stating that the Canadian government will invest up to $92 million in phase 1 of the Canadian Quantum Champions Program. Photonic was selected as one of the recipients and is set to receive up to $23 million from this program. While Canada has identified quantum technology as a strategic priority for some time, the country only recently launched its National Quantum Strategy in late November 2025. This strategy allocates $334.4 million over five years toward quantum technology investments.
Also in November 2025, Photonics was announced as one of 11 companies that advanced to the second stage of the United States government’s Defense Advanced Research Projects Agency’s (DARPA) Quantum Benchmarking Initiative (QBI). The program aims to assess the feasibility of constructing a fault-tolerant quantum computer within the next decade and to evaluate whether any quantum computing approach can achieve utility-scale operation by 2033.
Canada-based Photonic was founded in 2016 with the aim of building commercial-scale fault-tolerant quantum computers and networks. The company has now raised a cumulative total of $375 million, a notable achievement within such a short period. The company has begun deploying its proprietary Entanglement First™ Architecture – an approach that integrates silicon-based qubits with native photonic connectivity, facilitating seamless scalability across existing global telecommunications infrastructure.
As part of the recent investment, Planet First Partners will appoint Nathan Medlock, Managing Partner, to Photonic’s board. Medlock commented, “Quantum computing can unlock breakthroughs in clean energy, advanced materials, and human health beyond the reach of classical systems. Photonic’s distributed architecture provides a credible path to scale rapidly towards utility-scale systems- enabling innovations in areas such as battery materials, low-carbon catalysts, and drug design that may significantly accelerate climate solutions and enhance global wellbeing.”