Xanadu

About

Xanadu is a Canadian photonic quantum computing company and the first publicly listed pure-play photonic quantum computing company worldwide, trading as XNDU on Nasdaq and TSX since March 2026. Founded in 2016 in Toronto, it builds photonic quantum computers using squeezed light and continuous-variable quantum computing. Xanadu created PennyLane, the leading open-source quantum machine learning framework, with over 300,000 downloads. Xanadu completed a SPAC merger with Crane Harbor Acquisition Corp in March 2026, raising about $302M USD at a $3.6B pre-money valuation, backed by up to CAD $390M committed by the Canadian and Ontario governments. The company received CA$23M from Canada's Quantum Champions Program (CQCP) in 2025. In its first quarter as a public company, Xanadu reported revenue of $2.8M, roughly four times the prior year, and a cash position of about $272M. New commercial partners in early 2026 include AMD, for hybrid quantum-classical aerospace simulation, and TELUS. Its Borealis photonic processor demonstrated quantum computational advantage in 2022. In February 2025, Xanadu published the Aurora photonic quantum computing system in Nature: a 35-chip photonic processor connected via 13 km of fiber that generates 86 billion time-domain modes of entanglement, the largest quantum computing system ever built by mode count. Aurora demonstrates real-time measurement-based error correction at room temperature, establishing a scalability path for fault-tolerant photonic quantum computing. In May 2026, Xanadu reported its first quarterly results as a public company and announced a $300 million at-the-market synthetic equity programme to support growth. Earlier in May, PennyLane added MPI integration to cut multi-process simulation runtimes, and Xanadu disclosed a wafer-bonding collaboration with EV Group to scale photonic chip production. Researchers from Xanadu and collaborators also published a QROM-copy technique that halves the cost of loading classical

Quantum Specifications

Qubit Technology	Photonic
Physical Qubits	216
Logical Qubits	12
Error Correction	Gkp
Quantum Focus	hardware

Physical Qubits216

Logical Qubits12

Key People

CW

Christian Weedbrook

Founder

Funding History

series-c$100M

Jul 2022

series-d$180M

Sep 2024

grant$2.0M

Mar 2026

Total disclosed$282.0M

grant$2.027,507

2026-03-08

U.S. Department of Energy’s ARPA-E program

series d$180M

2024-09-25

Tiger GlobalGeorgian PartnersBessemer Venture Partners

series c$100M

2022-07-14

Bessemer Venture PartnersGeorgian PartnersCapricorn Partners

Backed By

Bessemer Venture Partners

Lakestar

Alumni Ventures

Georgian

Real Ventures

Porsche Ventures

Lightspeed Venture Partners

Darpa

Application Areas

OptimizationMaterials scienceDrug discovery

Research Partners

Perimeter InstituteU Of WaterlooMcgill

Frequently Asked Questions

Xanadu is a Canadian photonic quantum computing company and the first publicly listed pure-play photonic quantum computing company worldwide, trading as XNDU on Nasdaq and TSX since March 2026. Founded in 2016 in Toronto, it builds photonic quantum computers using squeezed light and continuous-variable quantum computing. Xanadu created PennyLane, the leading open-source quantum machine learning framework, with over 300,000 downloads. Xanadu completed a SPAC merger with Crane Harbor Acquisiti...

Xanadu is headquartered in Toronto, Canada.

Xanadu was founded in 2016.

Xanadu works with Photonic quantum technology.

Xanadu has 216 physical qubits and 12 logical qubits.

Yes, Xanadu is publicly traded under the ticker symbol XNDU on the Nasdaq/TSX.

Xanadu operates in the following sectors: quantum photonics, quantum processors, quantum algorithms, quantum cloud.

Xanadu has raised $302M+ in total disclosed funding.