Quantum Computing startups in Canada
There are 56 Quantum Computing startups in Canada which include D-Wave, 1QBit, Agnostiq, Xanadu, ProteinQure. Out of these, 29 startups are funded, with 13 having secured Series A+ funding, and 1 achieving unicorn status.
Over the past 10 years, an average of 3 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Waterloo, University of Oxford and University of Cambridge.
Here is the list of top Quantum Computing startups in Canada
1. D-Wave
Developer of integrated universal quantum computers and software. Its product portfolio includes a universal quantum computer and open-source software that solves problems on both the company's quantum processors and classic hardware architectures. Its cloud platform enables application developers to access their quantum computers and an expanded quantum application environment in real-time to develop custom applications.
Key facts about D-Wave
- Founded Year: 1999
- Location: Burnaby (Canada)
- Stage: Public
- Total Funding till date: $256M
- Investors: Goldman Sachs, PSP Investments and 26 Others
- Latest Funding Round: Grant (prize money), Mar 11, 2021, $*****
- Tracxn Score: 70/100 What is this?
- Competitors Rank: 1 of 5 Competitors
2. 1QBit
1QB Information Technologies (1QBit) is a quantum computing software company which has created a hardware-agnostic platform (can be integrated with both classical and quantum computers) for performing quantum computation. Provides an API endpoint which the industry partners can integrate into their existing applications. Partnered with D-Wave Systems, its software reformulates optimization problems into the quadratic unconstrained binary optimization (QUBO) format necessary to compute with D-Wave's quantum annealing processors. The company is primarily focused on applications such as computational finance, the energy industry, and the life sciences.
Key facts about 1QBit
3. Agnostiq
Provider of a quantum computing development platform. It offers software for quantum computers, quantum computing applications, quantum obfuscation privacy tools, and multi-cloud support to help organizations solve critical tasks.
Key facts about Agnostiq
- Founded Year: 2018
- Location: Toronto (Canada)
- Stage: Acquired
- Total Funding till date: $8.94M
- Investors: Differential Ventures, Boost VC and 6 Others
- Latest Funding Round: Seed, Apr 06, 2023, $*****
- Tracxn Score: 62/100 What is this?
- Competitors Rank: 1 of 24 Competitors
4. Xanadu
Manufacturer of cloud and AI-based application-specific ICs for quantum computing applications. It develops a quantum photonic processor and an open-source software platform. Its photonic-powered quantum processor chips are developed using squeezed light (fluctuation in light behaviour at the quantum level) concept for better calculations and computing speeds. It has developed open-source software that also includes a new quantum computing language, which is a dedicated machine learning platform for quantum computers.
Key facts about Xanadu
5. ProteinQure
Provider of computational protein drug design platform. It predicts the protein folds using hybrid quantum algorithms and performs molecular simulations on GPU superclusters. It designs peptide-based therapeutics using quantum computing, artificial intelligence, and molecular dynamics simulations. Additionally, it uses AlphaGo to train a model and impart reinforced learning which facilitates protein drug designing. It claims to have multiple features including more binding sites, fewer side effects, and easy synthesizing and lab testing.
Key facts about ProteinQure
- Founded Year: 2017
- Location: Toronto (Canada)
- Stage: Series A
- Total Funding till date: $15M
- Investors: Felicis Ventures, Government of Canada and 9 Others
- Latest Funding Round: Series A, May 28, 2025, $*****
- Tracxn Score: 60/100 What is this?
- Competitors Rank: 4 of 180 Competitors
