Nord Quantique Secures CAD $9.5 Million in Seed Funding

SHERBROOKE, Québec, Feb. 8, 2022 /PRNewswire-PRWeb/ -- Nord Quantique, a Sherbrooke-based quantum computing technology start-up, today announced it has closed CAD $9.5 Million seed funding. Nord Quantique develops technology using superconducting qubits to solve challenges within current quantum processors.

Co-leading this seed investment is BDC Capital's Deep Tech Venture Fund and Paris-based Quantonation VC fund. Real Ventures from Montréal, already a shareholder, also participated in the seed round. Nord Quantique is a partner of the Sherbrooke Quantum Innovation Zone, dedicated to advancing quantum computing innovation in Québec.

Nord Quantique develops hardware that accelerates the pathway to fully fault-tolerant quantum computing. Leveraging bleeding-edge Canadian expertise in quantum technology and semiconductor chip fabrication, Nord Quantique is redesigning processors from the ground up to mitigate and reduce error events on every individual qubit.

''We're consistently reviewing the global quantum computing landscape, and we truly believe that Nord Quantique has one of the most promising technical roadmaps to realize fault-tolerant quantum computing. The rigorous support they receive from the world-class Sherbrooke quantum ecosystem is key in helping them compete against the tech giants of the world." said Charles Lespérance, Partner, Deep Tech Venture Fund at BDC Capital.

"As one of the first venture capital investment funds dedicated to quantum and quantum-enabling technologies worldwide—Quantonation has been on board with Nord Quantique since day one of its inception in 2020. With the support of Profs. Alexandre Blais, Scientific Director of the Institut quantique at University of Sherbrooke, and Michel Pioro-Ladrière, Deputy Director at Institut quantique sitting on the Nord Quantique scientific advisory board, we have full confidence in the vision and capabilities of this team and their impact on the future of quantum computing," said Christophe Jurczak, Managing Partner at Quantonation, France.

Co-founders Julien Camirand Lemyre and Philippe St-Jean stated, "We embrace the great technological challenges that high performance quantum computing demands—and we're on the path to develop ground-breaking innovations," said Julien Camirand Lemyre, Ph.D. "We are uniquely positioned in the quantum tech ecosystem, and are grateful for these VC investment funds that will be the 'founding fuel' to help us continue to grow, innovate, and attract brilliant new minds to Québec," added co-founder, Philippe St-Jean, Ph.D.

For more information about Nord Quantique and to view career opportunities, visit: https://www.nordquantique.ca/.

About Nord Quantique
Nord Quantique develops hardware for fault-tolerant quantum computing by redesigning processors from the ground up with low-error in mind. The company is building superconducting circuits that can mitigate errors on every individual qubit, providing a faster pathway to high performance quantum computers. Based in Sherbrooke, Québec, and part of the Sherbrooke Quantum Innovation Zone, Nord Quantique was co-founded in 2020 by Philippe St-Jean, Ph.D., and Julien Camirand Lemyre, Ph.D. as a spinoff from the Institut Quantique. For more information about Nord Quantique and open career opportunities, visit: https://www.nordquantique.ca/.

About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. BDC Capital serves as a strategic partner to the country's most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit http://www.bdc.ca/capital.

About Quantonation
Quantonation is the first venture capital fund dedicated to quantum technologies and innovative physics. Areas such as material design, high-performance computing, cybersecurity, or ultra-precise detection are now driven by innovation based on these disruptive technologies. Quantonation aims to support their transition to marketable products for the industry. Quantonation is headquartered in Paris, France, and invests worldwide. Learn more: https://www.quantonation.com

About Real Ventures
Real Ventures is an early-stage venture firm focused on serving daring entrepreneurs with the ambition to create successful, global companies. Since 2007, Real Ventures has dedicated itself to building the Canadian startup ecosystem on the belief that people, not money, build game-changing companies. Real Ventures provides stage-specific guidance, mentorship, and access to networks and resources to fast-track founders' personal and company growth. Real Ventures manages $325 million across five funds and its portfolio of 60+ high-growth tech companies is currently valued at over $15 billion. http://www.realventures.com.

Media Contact:
[email protected]

Media Contact

Kevin G Clark, Nord Quantique, 5147540343, [email protected]

Philippe St-Jean, Nord Quantique, 438-355-7405, [email protected]

SOURCE Nord Quantique