Briefing

Toronto-based Xanadu raises $32 million to build quantum technology

Xanadu, which is trying to build a quantum computer using light particles to perform fast computations, had its round led by the Ontario Municipal Employees Retirement System. It’s also backed by Georgian Partners, Radical Ventures, Real Ventures, Silicon Valley Bank and Tim Draper, a billionaire who made early investments in Twitter and Skype. Xanadu is using the funding to commercialize its quantum technology. and from proof-of-concept projects with customers like the Bank of Montreal. It’s also offering software that allows customers to test quantum technology. (BetaKit)

    Enter your email to read this article for free

    By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.’s products and services. You can withdraw your consent at anytime. Please refer to our privacy policy or contact us for more details.
    Already a subscriber?

    In-depth, agenda-setting reporting

    Great journalism delivered straight to your inbox.

    Briefing

    IBM to open Calgary innovation centre focused on 5G, blockchain and AI

    Innovators and entrepreneurs named to Order of Canada

    CIBC says it will cover travel costs for employees seeking abortions

    Best business newsletter in Canada

    Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.

    Exclusive events

    See the bigger picture with reporters and industry experts in subscriber-exclusive events.

    Membership in The Logic Council

    Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.

    Canada's most influential executives and policymakers are reading The Logic

    • CPP Investments
    • Sun Life Financial
    • C100
    • Amazon
    • Telus
    • Mastercard
    • bdc
    • Shopify
    • Rogers
    • RBC
    • General Motors
    • MaRS
    • Government of Canada
    • Uber
    • Loblaw Companies Limited