Phasecraft has made a breakthrough in quantum computing that will allow quantum theory to become a reality from mere research faster than ever. Dr. Ashley Montanaro led a team to develop and test new algorithms that can optimise and predict the needed quantum hardware capacity when running meaningful programs. This will let complex problem solving faster than classical supercomputers a reality.
Of fundamental importance is the Fermi-Hubbard model, especially in condensed-matter physics. The model is particularly relevant in strongly correlated materials, and is a key route to understanding high-temperature superconductivity. One of the first applications of near-term quantum computers is to find the enigmatic ground state of this complex model. The Fermi-Hubbard model is even a possible pathway to understanding and developing new supermaterials or substances.
Dr. Montanaro mentioned how Phasecraft would solve the Fermi-Hubbard model.
Dr. Montanaro is also hopeful that the new research can solve the model and optimise quantum circuits immensely.
The peer-reviewed research paper of Dr. Montanaro and team is featured in Physical Review B, which is published by the American Physical Society, the highest authority among specialist journals in condensed-matter physics. The paper has even been chosen as an Editors’ Suggestion and will be set to appear in Physics magazine.
Ever since Phasecraft’s founding in 2019, the company has been punching well above its weight. Currently, Phasecraft is an emerging leader in quantum research. Started by Dr. Toby Cubitt, Dr. Ashley Montanaro, and Prof. John Morton, Phasecraft possesses a team capable of enabling near-term applications of quantum computing. The primary method is to develop novel algorithms with high efficiency ratings that can optimise near-term quantum hardware.
The company has even closed a record seed round for a UK quantum company, receiving a total of £3.7 million in funding from private-sector VC investors. These investors are led by LocalGlobe along with Episode1 and previous investors. Ian Hogarth, former Songkick founder, has even joined as board chair. Previously, Phasecraft managed to raise £750000 in a pre-seed round led by UCL Technology Fund with Parkwalk Advisors and London Co-investment Fund. InnovateUK has also awarded the company several grants. A total of £5.5 million has been raised, when equity funding and research grants are factored in.
Many different representatives from quantum companies around the world have commented on Phasecraft’s research paper.
Dr. Toby Cubitt is enthusiastic and believes that this research is very significant for the quantum world.
You can read the insight piece on this new research here.