QuantumCore raises $10.7M to accelerate commercialization
- QuantumCore, a University of Waterloo spinout, said April 24 it raised $10.7 million and listed publicly just over six months after launching. - The company says $9 million came from two private placements since October 2025, plus $1.7 million from a federal grant program. - The startup is building cryogenic quantum chips for scaling superconducting systems. (uwaterloo.ca)
QuantumCore said April 24 it has raised $10.7 million and gone public just over six months after launching from the University of Waterloo. (uwaterloo.ca) The Waterloo startup was co-founded by Christopher Wilson, a professor in electrical and computer engineering, and chief executive Eugene Profis. (uwaterloo.ca) Quantum computers process information with qubits, and superconducting qubits operate at temperatures near absolute zero. Their signals are weak and have to travel from that ultracold environment to room-temperature electronics. (uwaterloo.ca) QuantumCore is building an amplifier for that handoff. The company says its hardware boosts readout signals from superconducting quantum chips and addresses one of the engineering bottlenecks in scaling larger systems. (uwaterloo.ca) (thecse.com) The $10.7 million total combines $9 million from two private funding rounds since October 2025 and $1.7 million through the Natural Sciences and Engineering Research Council of Canada’s Alliance Grant program. (uwaterloo.ca) Wilson said the grant gives QuantumCore access to his lab at the Institute for Quantum Computing without diluting shareholders. The company said the private financings were arranged through non-brokered and brokered placements. (uwaterloo.ca) QuantumCore’s shares began trading on the Canadian Securities Exchange on April 14 under the ticker QNCR. The exchange said the listing followed a reverse takeover transaction. (thecse.com 1) (thecse.com 2) The company says it is developing high-performance microchips for the quantum computing infrastructure layer, including cryogenic signal-processing chips meant to improve readout accuracy and reduce thermal interference. (thecse.com 1) (thecse.com 2) Since launch, QuantumCore has hired five full-time technical staff and opened an office and lab in uptown Waterloo, alongside work at Waterloo’s Quantum Nano Fabrication and Characterization Facility. (uwaterloo.ca) Wilson said large quantum computing programs are moving quickly and pointed to recent announcements from Google Quantum AI Labs as a reason the company is raising money with urgency. (uwaterloo.ca) For QuantumCore, the pitch is narrower than building a full quantum computer: sell the hardware that helps other quantum companies read and move signals reliably as qubit counts rise. (uwaterloo.ca) (thecse.com)
