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