Waterloo startup is developing hardware components for quantum computers May 19, 2026 By Naomi Grosman, Institute for Quantum Computing Institute for Quantum Computing research spin-off QuantumCore gains fast momentum with $10.7 million in funding Talking Points A new startup, QuantumCore, has secured $10.7 million in funding and a public listing on the Canadian Securities Exchange just over six months after its launch. Co-founded by Dr. Christopher Wilson and Eugene Profis, the company is developing an amplifier to enhance read-out signals from superconducting quantum chips, addressing key engineering challenges in quantum computing. - QuantumCore raised $9 million through private placements and received an additional $1.7 million from the Natural Sciences and Engineering Research Council of Canada’s Alliance Grant program. - The startup aims to support quantum computing companies in developing scalable components for commercial quantum computers. - QuantumCore has expanded its team and established a lab in Waterloo to leverage local expertise in quantum technology. This development highlights Canada's growing role in the quantum technology sector and the potential for innovation in commercial applications of quantum computing. A new startup spun out of research at the Institute for Quantum Computing (IQC) at the University of Waterloo is accelerating its push toward commercialization with $10.7 million in dilutive and non-dilutive funding and a public listing after launching just more than six months ago. QuantumCore was co-founded by Dr. Christopher Wilson, IQC faculty and Chief Technology Officer, and Eugene Profis, CEO. The company is developing an amplifier that boosts read-out signals produced by a superconducting quantum chip at near absolute zero temperatures and gets the signal into room temperature. This could solve one of the many hard engineering challenges in quantum computing. “It’s a necessary product for quantum computing companies that are just a few years away from launching computers with thousands of