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Xanadu logo — Our mission: To build quantum computers that are useful and...

Xanadu

Our mission: To build quantum computers that are useful and available to people everywhere.

Founded 2016 Canada Toronto, Canada 298 employees Debt Financing Total: $289.15M Big Data, Hardware +1

General Information

Company Name Xanadu
Founded Year 2016
Location Canada Toronto, Canada
Employees 298
Industries Big Data, Hardware, Quantum
Funding Stage Debt Financing
Business Model B2B, Platform, Open Source
Revenue Model Service Fee, Licensing, Subscription
Social

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About Xanadu

Xanadu, founded in 2016 and headquartered in Canada, is a leading player in the quantum technology landscape, focusing on building accessible quantum computers worldwide.

The company's mission, "Our mission: To build quantum computers that are useful and available to people everywhere," highlights its dedication to democratizing quantum tech. Xanadu adopts a full-stack strategy, encompassing hardware, software creation, and pioneering quantum research.

A significant part of its innovation lies in PennyLane, an open-source project advancing quantum machine learning (QML), positioning Xanadu as a frontrunner in QML software libraries.

The company's latest financial move—a $3.75M debt financing round acquired on February 22, 2024, with backing from FedDev—reinforces its financial stability and investor confidence in its cutting-edge pursuits. This positions Xanadu well for continued growth and leadership in the evolving quantum industry.

Taxonomy: Quantum Computing, Photonic Quantum Hardware, Quantum Machine Learning, Full-stack Quantum Solutions, PennyLane, Open-source Quantum Software, Quantum Algorithms, Quantum Simulations, Deep Learning, Scalable Quantum Ventures, Industry-Academia Collaboration, Quantum Research and Development

Services & Products

Development of Quantum Computers
Quantum Software Tools
Quantum Algorithm Design
Photonic Quantum Solutions
Quantum Hardware Manufacturing

Target Customers

Quantum Researchers Tech Companies Industries with Complex Computational Needs Automotive Partners Chemical Industry

Funding Rounds & Investors (11)

View All
Funding Stage Amount Investors Lead Investors Date
Debt Financing $3.75M 1
FedDev
FedDev
22 Feb 2024
Grant $40.00M 1
Strategic Innovation Fund
23 Jan 2023
Series C $100.00M 10
Bessemer Venture Partners Capricorn Venture Partners Forward Ventures
Bessemer Venture Partners, Capricorn Venture Partners +8
09 Nov 2022
Series B $100.00M 7
Bessemer Venture Partners In-Q-Tel Omers Ventures
Bessemer Venture Partners, In-Q-Tel +5
25 May 2021
Grant $4.40M 1
Sustainable Development Technology Canada
Sustainable Development Technology Canada
16 Jan 2020
Grant Undisclosed 1
DARPA
DARPA
19 Nov 2019
Series A $32.00M 6
Real Ventures Omers Ventures Georgian Partners
Real Ventures, Omers Ventures +4
24 Jun 2019
Grant Undisclosed 1
Ontario Centres of Excellence
Ontario Centres of Excellence
17 Oct 2018
Seed Round $9.00M 3
Golden Ventures Real Ventures Omers Ventures
Golden Ventures, Real Ventures +1
08 May 2018
Seed Round Undisclosed 1
BDC Venture Capital
01 Jan 2017

View All 11 Funding Rounds

Latest News

View All
Rolls-Royce, Riverlane, and Xanadu secure £700,000 for quantum computing development — Tech
Rolls-Royce, Riverlane, and Xanadu secure £700,000 for quantum computing development
Tech Mar 14, 2024
Funding for quantum startups dropped worldwide in 2023 — but not in EMEA — Sifted
Funding for quantum startups dropped worldwide in 2023 — but not in EMEA
Sifted Feb 07, 2024

Xanadu Alternatives & Competitors

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Xanadu vs
Rigetti Computing
Rigetti Computing United States

We are scientists, engineers, builders, and visionaries

IPO
181 employees
AI, Big Data
Xanadu vs
PsiQuantum
PsiQuantum United States

Building the world’s first useful quantum computers.

Series E
628 employees
Hardware, IT
Xanadu vs
Origin Quantum
Origin Quantum China

Quantum computing, the technology of future

Venture round
24 employees
Computing, Hardware
View all alternatives

FAQ About Xanadu

Our mission: To build quantum computers that are useful and available to people everywhere.
Xanadu was founded in 2016.
Xanadu is headquartered in Toronto, Canada.
Xanadu operates in Big Data, Hardware and Quantum. Its work centres on Quantum Computing, Photonic Quantum Hardware, Quantum Machine Learning and Full-stack Quantum Solutions. Its customers include Quantum Researchers, Tech Companies and Industries with Complex Computational Needs.
Xanadu has a B2B, Platform and Open Source business model. Its revenue comes from Service Fee, Licensing and Subscription.
Xanadu has approximately 298 employees.
Xanadu has completed 11 funding rounds, raising a total of $289.15M. The latest funding stage is Debt Financing.
Xanadu offers: Development of Quantum Computers, Quantum Software Tools, Quantum Algorithm Design, Photonic Quantum Solutions, Quantum Hardware Manufacturing.
Top alternatives and competitors to Xanadu include Rigetti Computing, PsiQuantum, Origin Quantum, ORCA Computing, Quantum Brilliance. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Xanadu and Rigetti Computing are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for Xanadu, https://bouncewatch.com/company/xanadu, updated 8 December 2025. When citing, please name BounceWatch and link this page.

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