Microsoft Partner Photonic Raises $131 Million for Quantum Push

Quantum computing startup Photonic Inc. raised C$180 million ($131 million) after new shareholders Royal Bank of Canada and Telus Corp. joined existing blue-chip backers including Microsoft Corp.

The Vancouver-based company’s valuation now “considerably” exceeds $1 billion, Chief Executive Officer Paul Terry said in an interview, declining to elaborate further. The startup has raised C$375 million to date.