Toronto Quantum Startup Xanadu Raises $32M Series A to Bring Photonic Quantum Computing to the Cloud

Xanadu, the world leader in photonic quantum computing, has announced it has raised $32 million in Series A financing. OMERS Ventures led the round with participation from Georgian Partners, Radical Ventures, Real Ventures, Silicon Valley Bank and Tim Draper. The round brings Xanadu’s total investment to date to $41 million.

Xanadu was founded in 2016 by CEO Christian Weedbrook to make use of the discovery that photons—particles of light—can be used for quantum computing to perform extremely fast and incredibly complex computations at room temperature. “Confidence in Xanadu’s photonic approach to building a quantum computer is reflected in the strong interest from the highly reputable VC firms we have in this Series A financing,” said Weedbrook.

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