A new startup in Waterloo, Ontario, has secured $10.7 million in funding just over six months after its launch. QuantumCore, which grew out of research at the Institute for Quantum Computing at the University of Waterloo, is developing specialized hardware components for quantum computers.
The company, co-founded by Dr. Christopher Wilson and Eugene Profis, announced the total funding on April 24, 2026. This financial boost includes $9 million raised through two rounds of private funding since October 2025 and a $1.7 million grant from the Natural Sciences and Engineering Research Council of Canada. Additionally, the company completed a public listing on the Canadian Securities Exchange on April 14, 2026, under the ticker symbol QNCR.
QuantumCore produces hardware that helps improve signal quality in quantum chips, which operate at temperatures near absolute zero. According to Dr. Wilson, who is a professor in the Department of Electrical and Computer Engineering at the University of Waterloo, the technology is a necessary component for companies working to build large-scale quantum computers.
Since its start, the company has hired five full-time technical employees and established an office and lab in uptown Waterloo. These new operations work alongside the existing Quantum-Nano Fabrication and Characterization Facility at the university. This startup is one of 22 companies to emerge from research at the Institute for Quantum Computing, highlighting the region’s role as a hub for quantum technology development.
