Photonic is advancing its Entanglement First architecture, which combines silicon-based qubits with native photonic connectivity to enable scalable, fault-tolerant quantum computing over existing fiber infrastructure.

The company has closed a funding round exceeding $200 million, enabling milestone-driven growth, expanding the team, and deepening partnerships with government programs and strategic investors.

The round was led by Planet First Partners and drew participation from both new and existing investors across Canada, Europe, the US, and the Middle East, including RBC, TELUS, Microsoft, and Mubadala Capital.

New and existing participants also included the Canada StrongNorth Fund, Export Development Canada, Bell Ventures, Firgun Ventures, InBC Investment Corp., the Royal Bank of Canada, and Telus, among others.

The financing supports Photonic’s move toward commercialization and its plan to grow the team from about 170 to over 200 by next year, while building labs and partnerships to hit commercialization milestones.

Since 2016, Photonic has raised over $350 million to develop a scalable quantum computer and services, with the latest round valuing the company at roughly $2 billion post-money.

The first close in January 2026 included strategic investors like RBC and TELUS, alongside returning supporters such as BC Investment Management Corporation and Microsoft, signaling broad international backing.

CEO Don Mattrick and executives from Microsoft, BDC, Bell Ventures, EDC, TELUS, and others frame the funding as uniting government support, strategic partners, and international investors to commercialize distributed quantum architectures.

Industry stakeholders emphasize Photonic’s role in scaling quantum tech and integrating with existing telecom and fiber infrastructure, with government and corporate partners backing a path to commercial value.

Photonic participates in Canada’s Quantum Champions Program and the US DARPA Quantum Benchmarking Initiative, aiming to determine if an industrially useful quantum computer can be built by 2033, with optimism for earlier milestones.

The funds are earmarked to scale operations, expand the team, and invest in labs and partnerships that advance toward commercialization milestones.

Photonic is moving from pure research into commercialization, acting as a customer in DARPA’s Quantum Benchmarking Initiative and engaging with Canada’s Quantum Champions Program.