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It could very well be in Canada'Last updated 22 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.Founder Stephanie Simmons said government agencies are showing a growing interest and appetite in Photonic's quantum computing technology. Photo by Handout/PhotonicCoquitlam, B.C.-based quantum computing startup Photonic Inc. has convinced some of Canada’s biggest institutional investors to fork over their cash, but it still needs to prove it can scale its technology in a way that’s useful for businesses and convince companies and governments to pay for its services.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorMore than half of the investors in its US$200-million-plus Series E round that closed in May were Canadian, valuing the company at US$2 billion, which makes it one of the country’s most valuable startups.But Photonic is competing with homegrown rivals alongside global companies to build a large-scale quantum computer that can solve complex problems for industry beyond the scope of traditional computers.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againFounder and chief quantum officer Stephanie Simmons said Photonic’s approach, which uses particles of light and quantum physics to network quantum computers together, translates into systems that are cheaper, faster and can scale up easier. (Changed to network to avoid repetition; we use link again below)“We have the ability to take multiple computers, link them together and harness their power. That is the hardest thing in quantum,” she said. “It’s only been done by a handful of teams around the world and we’re the only commercial organization to have done it.”Photonic plans to use its new funds to hit key milestones, deepen commercial partnerships and grow its team to 200-plus employees from 170 by hiring engineers and other operations staff from within Canada and around the world, chief executive Don Mattrick said.He said the company has already achieved certain technical milestones and is working on tweaking its systems to become more efficient, user-friendly and applicable for a range of industries and organizations.A key element of Photonic’s strategy is using Microsoft Corp.’s cloud computing platform Azure, which it said will allow it to reach more companies of different sizes that span industries from financial services to pharmaceuticals, cybersecurity, artificial intelligence and defence.“Instead of (companies) having to buy a single quantum computer, they’ll be able to access our quantum computer as a service, Mattrick said. “I really think about it as a Fortune 1000-plus opportunity, where people around the world will think about their business needs to innovate.” A rendering of Photonic’s distributed quantum computer. Photo by Handout/PhotonicDespite having a business model that relies on a U.S. company and the risks that came with that, he said Microsoft has the ability to work around government needs if, say, Canada ever opts for a digital sovereignty model that requires a Canadian-only cloud.Photonic is also angling for allied governments, particularly the Five Eyes countries, to become anchor customers. Simmons said government agencies are showing a growing interest and appetite in its tech and that its participation in United States- and Canadian-sponsored quantum computing programs are pathways to potentially scoring procurement contracts.It also opened a $47-million R&D centre in the United Kingdom last year, and Simmons said it is looking into the U.K.’s recently launched procurement program.The company has not publicly disclosed its revenue, but Mattrick said they have reached at least several million dollars.Many of Photonic’s quantum computing startup peers have gone public in recent months, including Toronto’s Xanadu Quantum Technologies Inc., Finland’s IQM Quantum Computing Oyj and the U.S.’s IonQ Inc.Mattrick declined to discuss its future fundraising plans, but said the company is continuing to evaluate options that could include pathways to go public.Like other Canada-based startup founders, Simmons said it likely would have been easier to build a company in the U.S., but it chose Canada, which offers an abundance of quantum talent and the Canadian brand, a particularly important benefit given quantum’s implications for cybersecurity and cryptography.“We could sell to the entire world with this technology,” she said.Simmons added that Canada has the chance to become the world’s epicentre of quantum computing.“It’s not yet clear where the quantum Silicon Valley is going to be. It could very well be in Canada.” Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.