A fourth Canadian-founded quantum computing startup has secured a 10-figure valuation. Nord Quantique Inc. quietly raised US$30-million in March from fund-management giant Fidelity in a deal valuing the Sherbrooke, Que.-based technology developer at US$1.4-billion, said three sources familiar with the matter. Two sources said the investment could ultimately anchor a larger financing. The Globe and Mail is not identifying the sources, as they are not authorized to publicly discuss the matter. The company, led by physicist Julien Camirand Lemyre, follows D-Wave Quantum Inc., founded in B.C. but now based in Florida; Toronto-based Xanadu Quantum Technologies Inc.; and Vancouver’s Photonic Inc. in achieving billion-dollar-plus valuations. Photonic on Tuesday said it had closed a US$200-million financing, first announced in January, that valued it at US$2-billion. Xanadu went public in March by combining with a Nasdaq-listed special purpose acquisition company (SPAC); its valuation has topped US$10-billion at times since then. Canada is an early leader in a global race to develop quantum computers, which derive their power by tapping into the peculiar properties of subatomic particles. The machines are expected to some day solve tasks out of reach for the world’s most advanced computers, opening new applications in financial forecasting, machine learning and drug and material discovery. In depth: Canada's quantum leap No one has yet produced a machine that can do that. But 11 companies, including Nord Quantique, Xanadu and Photonic, have advanced to the second stage of a U.S. Defense Advanced Research Projects Agency (DARPA) competition challenging developers to show they can build a commercial-grade quantum computer by 2033. Those who complete the program could receive US$300-million from DARPA. The Canadian government has committed up to $23-million to each Canadian DARPA contestant – matching the U.S. funding they’ve already qualified for – and a fourth player, Anyon Systems Inc., which isn’t