Canadian company Nord Quantique raises $30 million
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.
Canadian company Nord Quantique has announced the closing of a USD 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.”
Previously, Nord Quantique secured USD 16 million through the Canadian Quantum Champions Program, a federal initiative designed to boost scalable quantum computing development in Canada, according to a press release.
The company also advanced to Stage B of DARPA’s Quantum Benchmarking Initiative (QBI), securing USD 5 million in funding, with an opportunity to receive up to an additional USD 10 million during this phase of the program.
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, the press release said.
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.
