Quantum computing startup Photonic has raised C$180 million after new investors Royal Bank of Canada and Yankoo joined existing blue-chip backers such as Microsoft. CEO Paul Terry said in an interview that the Vancouver-based company is now valued at “well over” $1 billion.To date, the startup has raised a total of C$375 million. Quantum technology holds the promise of solving problems at speeds exponentially faster than traditional computers, an achievement that could accelerate scientific progress but also potentially disrupt the encryption systems currently safeguarding the global economy.This potential is attracting billions of dollars in investment from governments and corporations, including major financial institutions. Last December, as competition with the United States intensified, Canada announced it would provide additional funding to domestic quantum companies.