Insider Brief
- Phasecraft has joined a contract led by the University of Maryland Applied Research Laboratory for Intelligence and Security to support Defense Advanced Research Projects Agency’s Quantum Benchmarking Initiative (QBI).
- Phasecraft will use its hardware-agnostic quantum algorithms to estimate resource requirements for applications in materials modeling and optimization to inform U.S. government validation efforts.
- The work contributes to QBI’s objective of assessing the feasibility of achieving utility-scale quantum computing by 2033.
PRESS RELEASE — Phasecraft, the world’s leading quantum algorithms company, today announced it has commenced work on the University of Maryland’s Applied Research Laboratory for Intelligence and Security’s (ARLIS) new contract to support the Defense Advanced Research Projects Agency’s (DARPA) ongoing Quantum Benchmarking Initiative (QBI). QBI’s goal is to assess if it is possible to achieve utility-scale quantum computing by 2033. Phasecraft joins the contract as a technical expert and will leverage its proprietary software and quantum algorithms to develop optimized estimates of resource requirements for quantum applications to inform the U.S. Government (USG) verification and validation efforts.
Evaluating Progress Towards Quantum Utility
While the cutting-edge quantum hardware selected for QBI inches closer to commercial utility, ultra-efficient quantum algorithms like those Phasecraft develops are required to unlock the full potential of any quantum hardware. The company’s hardware-agnostic algorithms, which in some cases are millions of times more efficient than the best previous work, enable the company to provide unique value to ARLIS, DARPA, and the USG.
Specifically, Phasecraft’s work will focus on two application areas: 1) materials and molecular modeling; and 2) hard optimization problems. In both cases, Phasecraft’s algorithms have pushed the boundaries of what was thought possible, and radically shortened the timeline to quantum advantage – the point at which quantum computers will outperform classical methods. This enables the company to produce far more accurate estimates of when quantum will deliver true utility to users across application areas.
“The team at DARPA has long understood the strategic importance of quantum computing, and we are thrilled at the opportunity to collaborate on this vital work, working alongside ARLIS,” said Ashley Montanaro, co-founder and CEO of Phasecraft. “For all the emphasis we see on hardware in the field, it is gratifying to have a government partner like DARPA appreciate the importance of quantum algorithms in the race to achieve industrially useful quantum computing. Our quantum algorithms are delivering meaningful results today, and we’re excited to join the impressive QBI team.”
Building on Momentum
A preferred research partner for all the leading hardware companies like Google Quantum AI, IBM, Quantinuum and QuEra, Phasecraft prioritizes making quantum useful in the near term. In October, Phasecraft unveiled Mondrian, its first-of-a-kind quantum-enhanced software platform designed to speed up classical optimization algorithms and apply them to hard optimization and constraint satisfaction problems across several industries. Mondrian demonstrates how classical and quantum computing can work together to tackle some of the most complex optimization problems facing industries such as energy, finance, and logistics.
This contract comes on the heels of the company’s recent $34M Series B fundraising announcement. The new funding brings the total raised to over $50M – including grant and contract funding – and will allow the company to double down on its R&D breakthroughs and expand industrial efforts, building real-world solutions for end users.
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