Nord Quantique Secures $9.5 million in Seed Funding
Jus a few days after the Quebec government designated an innovation zone in Sherbrooke, Nord Quantique, a company co-founded by Julien Camirand Lemyre and Philippe St-Jean, announces it has raised $9.5 million to finance the development of its technology. The Institut quantique (IQ) spinoff is developing a new generation of quantum processors aimed at reducing the error rates of quantum computers.
For Michel Pioro-Ladrière, scientific director of the innovation zone and deputy director of the Institut quantique, this is good news for the IQ community, especially students.
“Today’s funding announcement will allow Nord Quantique to further develop its technology to provide the essential components of a fault-tolerant quantum computer. Knowing the team very well, I can see that the company is built on a solid scientific background. The funding opens the door to hiring new talent and that’s what’s at the heart of everything we do, putting in place conditions to offer interesting job opportunities to people who graduate in Sherbrooke.”
For Christian Sarra-Bournet, Executive Director of the Institut quantique, this news highlights the rollout of the fundamental elements that constitute the quantum ecosystem. “With the recent announcement of the innovation zone, this is a clear demonstration of the possibilities in Sherbrooke. We can see today that all the elements are in place, with entrepreneurs and investment funds stepping up to advance Sherbrooke’s ideas, talent and expertise.”
Nord Quantique will use this funding to expand its operations in the heart of the innovation zone, including hiring new talent and scaling up its technology.