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Xanadu (company)

Xanadu (company)

A company developing quantum computing and artificial intelligence technologies.

Xanadu is a photonic quantum computing and advanced artificial intelligence company. Based in Toronto, the company was founded in 2016 by Christian Weedbrook.

In May 2018, Xanadu raised CA$9M in seed funding. In 2019 Xanadu received CA$32M during series A funding round as well as a grant from DARPA (Defense Advanced Research Projects Agency). OMERS Ventures were lead investors for both seed and Series A funding. In January 2020, Xanadu received a further US$4.4M in venture round funding from Sustainable Development Technology Canada.

Xanadu design and integrate quantum silicon photonic chips into existing hardware to create truly full-stack quantum computing.

Xanadu also develops software, the two main software products are PennyLane and Strawberry Fields. PennyLane lets users run quantum machine learning algorithms on any currently available quantum computing hardware. Strawberry Fields provides the access point for Xanadu's unique photonic quantum computers, as well as a suite of special-purpose quantum simulators.

Xanadu's products have applications in many fields such as:

  • Machine Learning
  • Chemistry
  • Finance
  • Optimization
  • Sensors

Timeline

May 25, 2021
Xanadu secures $120,000,000 CAD in a Series B round led by Bessemer Venture Partners.
May 25, 2021
Xanadu raises a $100,000,000 series B round.
January 2020
Xanadu raises a $4,400,000 grant from Sustainable Development Technology Canada - Technologies Du Développement Durable Canada.
June 2019
Xanadu raises a $25,556,480 series A round from Georgian, OMERS Ventures, Radical Ventures, Real Ventures, Silicon Valley Bank and Tim Draper.
May 2018
Xanadu raises a $7,187,760 seed round from Golden Ventures, OMERS Ventures and Real Ventures.
December 2016
Xanadu was founded by Christian Weedbrook.

Funding rounds

People

Further reading

Documentaries, videos and podcasts

Companies

News

Title
Author
Date
Publisher
Description
Meagan Simpson
May 25, 2021
BetaKit
Toronto quantum computing startup Xanadu has secured $120 million CAD ($100 million USD) in a Series B round led by Bessemer Venture Partners.
Xanadu
December 8, 2020
www.prnewswire.com:443
/PRNewswire/ - PennyLane, Xanadu's open-source software for differentiable quantum computing is now integrated with Amazon Braket, a fully managed quantum...
Scott McLean
November 26, 2020
BetaKit
Toronto-based quantum computing startup Xanadu, in partnership with MaRS and Creative Destruction Lab (CDL), announced the launch of a new quantum network.
Isabelle Kirkwood
January 16, 2020
BetaKit
<p>BetaKit has partnered with TradeRev on a new event series investigating the future of Canada's AutoTech industry. Event Schedule 6:00-6:30 pm: Doors Open &...</p>\n

References

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