Quantum Companies in North America by Funding
North American quantum companies beyond the United States — anchored in Canada's Waterloo–Toronto and Sherbrooke corridors — span annealing, silicon-photonics and bosonic qubit platforms. This page ranks them by total disclosed funding.
| # | Company | Region / Country | Technology | Total Funding | Latest Round |
|---|---|---|---|---|---|
| 1 | D-Wave QuantumNYSE: QBTSBurnaby, BC · est. 1999 | 🌎 North AmericaCanada | ⚛️ quantum-computingAnnealing + gate model | ~$900MMega | Government funding (CHIPS Act LOI) · 2026-11 |
| 2 | Photonic Inc.Vancouver, BC · est. 2016 | 🌎 North AmericaCanada | ⚛️ quantum-computingSilicon spin-photon | ~$471MMajor | Reported raise · 2026-05-12 |
| 3 | Nord QuantiqueSherbrooke, QC · est. 2020 | 🌎 North AmericaCanada | ⚛️ quantum-computingBosonic superconducting | ~$44MGrowth | Series B · 2024-06 |
Figures marked ~ are approximations from public reporting. Chinese and early-stage figures often include partially undisclosed rounds. See methodology. Data: companies.json (CC BY 4.0). For the full cross-technology table, see the all quantum funding rankings.
How to read this ranking
This page covers North American quantum companies outside the United States, a small cohort of 3 tracked companies with about $1.4B in disclosed financing. It is small in row count but not in average round size, which makes it the clearest example of why company count and capital depth are different measures.
A small cohort with outsized rounds
Canadian quantum companies have raised some of the largest single private rounds in the dataset. A handful of rows therefore carry most of the regional total, and the median is a poor summary of what a typical company here looks like. We publish both figures so that asymmetry is visible rather than hidden behind an average.
This concentration also means the page is volatile: one new round can change the regional ranking, while a quiet year leaves it almost unchanged. Historical snapshots matter more for a cohort this size than for a broad one.
The Waterloo–Toronto and Sherbrooke corridors
Research spin-outs around Waterloo and Sherbrooke anchor photonics, silicon photonics and bosonic-qubit work, while control-stack and annealing-related businesses cluster around established Canadian quantum institutes. Proximity to a university fabrication or photonics facility shows up in the technical descriptions more clearly than in the funding amounts.
For readers mapping the ecosystem, the sub-technology column and company descriptions are the useful entry point; the ranking is best used as a secondary check on which of those approaches has attracted capital.
Why the figures are usually reported in USD
Canadian rounds are frequently announced in USD even when the company operates in CAD, and headlines sometimes quote a valuation alongside the cash raised. We keep the two separate and store the source link so a reader can check which currency and which number the original report actually used.
Where a valuation is disclosed without a transaction value, the event appears in the timeline with an undisclosed amount. Inferring a round size from a valuation would be a guess, and guesses do not belong in a source-linked dataset.
What to watch in this cohort
Follow-on rounds from the largest names, government co-investment programmes, and any move toward public markets would all change this page materially. We also expect duplicate press coverage around each large round; those reports are merged into one editorial event with corroborating sources noted, so the totals do not drift upward every time a story is syndicated.
What the numbers on this page actually show
Of the 3 companies on this list, 3 have a disclosed cumulative figure and 0 do not. The median disclosed total is $471M; the three largest rows (D-Wave Quantum, Photonic Inc., Nord Quantique) account for roughly 100% of all capital tracked here, led by D-Wave Quantum. That concentration is a property of capital-intensive hardware, not a verdict on which technology works best.
Every figure is a lower bound. Undisclosed rounds, partially disclosed RMB amounts, grants bundled into a financing package and public-market programmes drawn down over months all move the same row in different directions. We publish the underlying JSON so you can recompute the table under your own rules; the ranking rule itself is documented on the methodology page, and the reasoning behind editorial choices is on the editorial policy page.