.jpg)
22 hours ago
3
Article content
Nord Quantique reaches unicorn status with $30 million growth equity investment
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
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 TO UNLOCK MORE ARTICLES
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.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
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.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
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
Sign In or Create an Account
or
Article content
SHERBROOKE, Quebec — Nord Quantique, a pioneer in the field of quantum error correction and quantum computing, today announced the closing of a $30 million investment to support the advancement of the Company’s roadmap towards fault tolerance in 2030. “Our hardware-efficient approach to quantum computing requires a fraction of the qubit overhead and a fraction of the capital. We aren’t interested in building the biggest or most expensive machine. Our goal is to build the most efficient one,” said Julien Camirand Lemyre, CEO and Co-founder, Nord Quantique. “This investment, and the investor interest behind it, is validation we are on the right path.”
Article content
Article content
Article content
This new funding builds on significant non-dilutive funding momentum. Previously, Nord Quantique secured $16 million USD through the Canadian Quantum Champions Program, a federal initiative designed to boost scalable quantum computing development in Canada. The company also advanced to Stage B of DARPA’s Quantum Benchmarking Initiative (QBI) , securing $5 million in funding, with an opportunity to receive up to an additional $10 million during this phase of the program. The next stage of DARPA QBI, Stage C, brings the potential for up to $300 million in additional funding.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The combination of private investment and competitive government funding reflects growing confidence in Nord Quantique’s technology roadmap and execution strategy. Investors in Nord Quantique now include BDC, certain fund(s) managed by Fidelity Investments Canada ULC, Panache Ventures, Presidio Ventures, Quantacet, Quantonation, and Real Ventures.
Article content
Nord Quantique differentiates itself through a highly efficient approach to quantum error correction. Instead of relying on extensive qubit redundancy, the Company’s architecture leverages bosonic codes and multimode logical qubits to correct errors directly at the qubit level. This approach achieves a 1:1 logical-to-physical qubit ratio, maximizing computational efficiency, enabling faster clock speeds and scalable, data-center-compatible quantum systems. As part of its roadmap towards utility scale quantum computing, Nord Quantique is focused on building useful, fault tolerant quantum computers by 2030.
Article content
About Nord Quantique
Article content
Founded with the vision of reinventing computing from the qubit up, Nord Quantique is advancing quantum error correction and scalable architectures toward commercially viable, fault-tolerant quantum computers. By embedding quantum error correction directly into each qubit using superconducting bosonic codes, the Company enables a 1:1 logical-to-physical qubit ratio. This unique approach delivers scalable performance, fast clock rates, and an efficient energy and physical footprint—unlocking a clear path to useful, error-corrected quantum computers. Explore Nord Quantique’s technology and progress on our website.
Article content
Article content
Article content
Article content
View source version on businesswire.com:
Article content
Article content
Article content
Contacts
Article content
Media Contact
Article content
Article content
Article content
English (US)