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Quantum Computing Startups in Canada


Last Updated: September 7, 2022


There are 37 Quantum Computing startups in Canada. Here is a list of the 10 most exciting ones

D-Wave  |

Developer of integrated universal quantum computers and software

Developer of integrated universal quantum computers and software. Its product portfolio included 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.

Company Overview

Founded Year

1999

Location

Burnaby (Canada)

Funding

USD 256M [Funding Details]

Investors

Government of Canada, NEC, PSP Investments and 22 Other Investors [Investor Details]



Xanadu  |

Manufacturer of cloud and AI-based application-specific ICs for quantum computing applications

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. Its solutions have applications in machine learning-based computing, quantum chemistry (drug discovery and material design), quantum sensing, algorithm optimization, and the finance industry.

Company Overview

Founded Year

2016

Location

Toronto (Canada)

Funding

USD 145M [Funding Details]

Investors

Bessemer Venture Partners, OMERS, Tim Draper and 15 Other Investors [Investor Details]



1QBit  |

Hardware-agnostic platform for quantum computing

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.

Company Overview

Founded Year

2012

Location

Vancouver (Canada)

Funding

USD 45M [Funding Details]

Investors

Digital Ventures, Fujitsu, Accenture and 15 Other Investors [Investor Details]



ISARA  |

Post-quantum encryption-based data security solution

Isara provides a post-quantum encryption-based data security solution to the enterprise. Product IQR Toolkit is a solution for preventing quantum computer attacks on encrypted data. Implements cryptographic algorithms via a library with a C language interface to be deployed on commercial solutions as a drop-in algorithm replacement. Claims to be one of the few startups to develop a toolkit leveraging New Hope lattice-based algorithm for post-quantum cryptography.

Company Overview

Founded Year

2015

Location

Waterloo (Canada)

Funding

USD 10M [Funding Details]

Investors

Innovation, Science and Economic Development Canada, Shasta Ventures, Quantum Valley Investments [Investor Details]



Nord Quantique  |

Manufacturer of superconducting qubits

Manufacturer of superconducting qubits. It designs and develops bosonic code-enabled superconducting circuits that can alleviate errors on every individual qubit. It facilitates the development of error-correcting quantum computing technology.

Company Overview

Founded Year

2020

Location

Sherbrooke (Canada)

Funding

USD 7M [Funding Details]

Investors

BDC, Quantonation, Real Ventures and 1 Other Investors [Investor Details]



evolutionQ  |

Provider of quantum risk assessment and consultancy services

Provider of quantum risk assessment and consultancy services. Its services include Quantum Risk Assessments, roadmap design and implementation, quantum-safe hardware and software implementation, and quantum educational training. The company is founded by quantum technology veterans and research scholars.

Company Overview

Founded Year

2015

Location

Waterloo (Canada)

Funding

USD 6M [Funding Details]

Investors

Quantonation, The Group Ventures [Investor Details]



Menten  |

Developer of peptides using AI technology

Menten AI is a developer of a platform for protein designing. The platform uses machine learning and quantum computing to design proteins based on requirements such as protein therapeutics and biocatalysis. The services offered by the company are rational peptide design and enzyme optimization.

Company Overview

Founded Year

2018

Location

Toronto (Canada)

Funding

USD 4M [Funding Details]

Investors

Uncork Capital, Khosla Ventures, Y Combinator and 4 Other Investors [Investor Details]



ProteinQure  |

Provider of computational protein drug design platform

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. The company has collaborated with multiple academic and industry partners including NVIDIA, D-Wave, Rigetti, IBM, 1QBit, University of Toronto, University of Calgary, and S28.

Company Overview

Founded Year

2017

Location

Toronto (Canada)

Funding

USD 4M [Funding Details]

Investors

Felicis Ventures, Tom Williams, Global Founders Capital and 5 Other Investors [Investor Details]



Agnostiq  |

Provider of a quantum computing development platform

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.

Company Overview

Founded Year

2018

Location

Toronto (Canada)

Funding

USD 3M [Funding Details]

Investors

Differential Ventures, Tensility Venture Partner, Boost VC and 3 Other Investors [Investor Details]



Qindom  |

Provider of quantum computing solutions for software development

Provider of quantum computing solutions for software development. It has developed an open platform and intellectual properties for the application of quantum computing to reconstruct fundamental AI algorithms and models for combinatorial optimization problems, and for realizing quantum intelligence in industry practices. Its offerings include QIaaS (Quantum Intelligence as a Service), which is a cloud-based machine learning platform backed by quantum computing, and a proprietary quantum machine learning algorithm that aims to boost the training and learning capabilities of classical ML models.

Company Overview

Founded Year

2018

Location

Toronto (Canada)

Funding

USD 2M [Funding Details]



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