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Nov 08, 2023

Silverpeak advises Photonic Inc. on a $100m investment from BCI, Microsoft, and other investors

Silverpeak, the mid-market technology specialist has acted as a financial advisor to Photonic Inc. on its’ $100m fundraising from British Columbia Investment Management Corporation (BCI), Microsoft Corporation, the UK government’s National Security Strategic Investment Fund (NSSIF), Inovia Capital, Amadeus Capital Partners and other investors.

Photonic is building one of the world’s first scalable, fault-tolerant, and unified quantum computing and networking platforms, uniquely based on proven spin qubits in silicon. Photonic’s platform offers a native telecom networking interface and the manufacturability of silicon. The company has over 120 employees with a head office in Canada and has recently opened offices in the United Kingdom and the United States.

Silverpeak worked closely with the company to optimally present the investment opportunity, contact and engage expert investors, manage the due diligence process and negotiate the terms of the fundraising.

“The Silverpeak team understood the complexity of the quantum computing market and were able to articulate Photonic’s game-changing business to global investors. The result is a round of financing that brings together knowledgeable investors who believe in our work, and is a testament to our team, our technology, and the direction we’re headed in” said Paul Terry, Chief Executive Officer of Photonic.

Pietro Strada, Managing Partner at Silverpeak, leading the process added: “Photonic is an exceptional company targeting the huge opportunity in quantum computing and networking. It has been a privilege to work with the Photonic team. We believe that this round will provide the company with the financial resources to continue the successful execution of its business plan.”