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Xanadu Closes $100M Usd Series C To Accelerate Development Of Fault-Tolerant Quantum Computers

Xanadu Closes $100M Usd Series C To Accelerate Development Of Fault-Tolerant Quantum Computers

11/09/22, 1:03 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/CA.svgtoronto
Industry
information technology
software
Round Type
series c
Xanadu (xanadu.ai), the world leader in photonic quantum computing, has announced it has raised $100M USD in Series C financing. Georgian led the round with participation from Porsche Automobil Holding SE, Forward Ventures, Alumni Ventures, Pegasus Tech Ventures, Silicon Valley Bank, along with previous investors Bessemer Venture Partners, Capricorn, BDC Capital, and Tim Draper. To date, Xanadu has raised $250M USD, bringing the company valuation to $1B USD.

Company Info

Company
Xanadu
Location
toronto, ontario, canada
Additional Info
Xanadu Quantum Technologies Inc. is a Canadian quantum technology company, and one of the world's leading photonic quantum hardware providers. Founded in 2016, Xanadu's mission is to build quantum computers that are useful and available to people everywhere. To achieve this mission, the company has taken a full-stack approach and builds hardware, software, and pursues state-of-the-art research with select partners. Today, enterprises and researchers can begin using Xanadu's photonic quantum computers through the Xanadu Quantum Cloud (XQC) service and Strawberry Fields application library. The company is also advancing the field of quantum machine learning (QML) through the development of PennyLane, an open-source project that has become a leading software library among quantum researchers and developers. Xanadu is bringing together exceptional minds from around the world to build something extraordinary. Learn more at xanadu.ai
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