The U.S. asset management giant invested in the Sherbrooke, Que.-based quantum computing firm in March, as part of what could be the start of a larger round, sources told The Globe and Mail. Nord Quantique did not respond to The Logic’s request for comment. (The Globe and Mail, The Logic)

Talking point: Founded in January 2020, Nord Quantique is one of several companies trying to produce useful quantum computers. The firm has designed its hardware to make error-free calculations at a smaller scale than rivals, and has burned less capital, CEO Julien Camirand Lemyre said in an interview with The Logic last year. Nord Quantique had planned to raise a round this year, and recently brought on a new CFO with scaleup and public company experience. Corporate filings from January show the firm’s latest class of stock was issued at a significantly higher price of US$604 per share, compared to US$47 for the prior class, suggesting a major valuation increase. Nord Quantique is also one of three Canadian quantum computing companies selected for major programs in the U.S. and Canada that could bring each firm hundreds of millions of dollars in public funding.