Builds scalable, modular, room-temperature photonic quantum computers and leads PennyLane, an open-source quantum programming library. Trades on Nasdaq and TSX as XNDU following a March 2026 SPAC merger.
Canadian innovation builds a brighter tomorrow.
Xanadu’s SEC-filed company release states that it was “Founded in 2016” and is “a Canadian photonic quantum computing company” whose mission is to “build quantum computers that are useful and available to people everywhere”. It describes the company as “building fault-tolerant quantum computers using light”, designed to operate at room temperature, and says Xanadu is “Backed by more than $500 million USD in funding” and is the “first pure-play photonic quantum computing company to list on public markets”. The release records that Xanadu develops both hardware and software, “including Pennylane, its open-source quantum computing platform”.
Went public via SPAC merger with Crane Harbor Acquisition Corp., with ~US$302M in gross proceeds; shares trade on Nasdaq and the TSX under XNDU (March 2026). sec.gov
Introduced Aurora, a 12-qubit universal photonic quantum computer built from 4 modular server racks, 35 photonic chips and 13 km of fiber optics, published in Nature (January 2025). prnewswire.com
Its Borealis machine demonstrated quantum computational advantage on Gaussian boson sampling — 36 microseconds vs. an estimated ~9,000 years for the fastest supercomputer (June 2022). prnewswire.com
Closed a $100M USD Series C led by Georgian (November 2022), bringing total raised to $250M USD at a $1B USD valuation, pre-IPO. prnewswire.com
Its federally backed manufacturing build-out is named Project OPTIMISM — valued at up to CAD $390 million, anchored by CAD $195 million from the Strategic Response Fund (August 2026). globenewswire.com
Project OPTIMISM is to establish domestic heterogeneous integration of photonic chips, PIC packaging, wafer-level semiconductor test and measurement, and quantum module assembly. globenewswire.com
The Canada Investment Summit pitchbook, per BetaKit, lists Project Optimism as a $1.3-billion advanced photonics R&D and manufacturing hub in Etobicoke, Ontario seeking public equity. betakit.com
Its SEC-filed company release states that Xanadu was founded in 2016, is headquartered in Toronto, and trades as "Nasdaq/TSX: XNDU". sec.gov
Products Xanadu Quantum Technologies publishes on its own site. Each card links to the page it was taken from.
Photonic quantum computer
A universal photonic quantum computer built from four modular, independent server racks that are photonically interconnected and networked together — 12 qubits across 35 photonic chips and 13 km of fibre, all operating at room temperature.
Learn moreOpen-source quantum programming
Develop quantum applications and program quantum computers with PennyLane's library of tools, demonstrations, tutorials and community support forum.
Learn more SourceQuantum compilation
Fully integrated with PennyLane, Catalyst enables just-in-time compilation of entire quantum-classical workflows.
Learn more SourceHigh-performance quantum simulators
A high-performance quantum simulator written in C++ and accessible via Python, with lightning.qubit and lightning.gpu for large workflows on GPUs or supercomputers.
Learn moreQuantum computing education
Learn quantum computing with PennyLane, combining theory with hands-on coding exercises.
Learn moreAnnounced rounds only, newest first. Undisclosed amounts are shown as undisclosed.
Mar 26, 2026
Nov 9, 2022
Investors: Georgian, Porsche Automobil Holding SE, Forward Investments, Alumni Ventures, Pegasus Tech Ventures, Silicon Valley Bank, Bessemer Venture Partners, Capricorn, BDC Capital, Tim Draper
May 25, 2021
Investors: Bessemer Venture Partners, Capricorn, Tiger Global, BDC Capital, In-Q-Tel, Georgian, OMERS, Tim Draper
Jun 24, 2019
Investors: OMERS Ventures, Georgian Partners, Radical Ventures, Real Ventures, Silicon Valley Bank, Tim Draper
May 8, 2018
Investors: OMERS Ventures, Golden Ventures, Real Ventures
Publicly announced partnerships.
Collaboration on a 300 mm wafer process for superconducting transition edge sensors, a component of the photon-number-resolving detectors in Xanadu's quantum computers (2025).
Collaboration on low-loss optical fiber and fiber-array solutions for photonic quantum computing chips, supporting Xanadu's fiber-networked modular architecture (2025).
Joint project on quantum algorithms for simulating extreme ultraviolet (EUV) lithography processes used in semiconductor chip fabrication (2025).
Collaboration to co-develop quantum algorithm tooling in PennyLane for aerospace (2023), extended via the 2024 CATALYST jet-engine airflow project with Riverlane.
Project on quantum algorithms for materials science simulations, including quantum sensing and optical response simulations of spin defects in 2D materials (2024).
Collaboration on quantum simulation workflows for X-ray absorption spectroscopy to model next-generation battery materials and degradation.
Research on thin-film lithium niobate (TFLN) photonic chips for quantum computing (2025).
Four-year research and development partnership on silicon photonic integrated circuits for quantum applications (2025).
Collaboration under DARPA's INSPIRED Program on the INSIGHT device, an integrated squeezed-light generator and homodyne detector (2025).
Partnership relating to optical fiber components for photonic quantum computing (2026).
Memorandum of understanding for research and development in quantum technologies (2025).
Partnership on quantum algorithms for lithium-ion batteries and quantum hardware (2023).
Government support actually received. Unpublished amounts are left out.
Strategic Innovation Fund (ISED) — up to C$40M; C$35.7M received through 2025
FedDev Ontario repayable contribution (PennyLane development)
NRC IRAP + Innovate UK — CATALYST project (with Rolls-Royce and Riverlane)
DARPA Quantum Benchmarking Initiative — Stage A
Canadian Quantum Champions Program (ISED, phase 1 up to C$23M)
At its Technology Roadmap Presentation, Xanadu published an expanded milestone-driven roadmap covering its photonic quantum computing architecture and PennyLane software platform, and its path to a quantum data centre.
Xanadu signed a definitive agreement with the Government of Canada for CAD $195M through the Strategic Response Fund, administered by Innovation, Science and Economic Development Canada, to establish advanced manufacturing facilities for fault-tolerant photonic quantum computers. It formalizes the federal portion of the up to CAD $390M announced on March 11, 2026 for Project OPTIMISM.
Xanadu announced the next phase of its collaboration with Mitsubishi Chemical on semiconductor fabrication using quantum algorithms, supported by national innovation programs in both Canada and Japan, scaling earlier work simulating extreme ultraviolet (EUV) lithography.
Xanadu began trading on the TSX and Nasdaq under ticker XNDU after a SPAC merger that raised roughly US$302M.
Xanadu, Anyon Systems, Photonic and Nord Quantique were selected for federal funding under the Canadian Quantum Champions Program.
Sourced from the company's own pages or announcements.
Christian Weedbrook
Founder, Chairman & CEO
Terms the company uses about its own work.
Other companies in Quantum.
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