Other investors in the Series B round include BDC Capital, Tiger Global and CIA-linked In-Q-Tel as well as existing backers Georgian and OMERS. The new capital will fund the development of Xanadu’s system to reach one million qubits, a measure of information in quantum computing. (The Logic)
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Other investors in the Series B round include BDC Capital, Tiger Global and CIA-linked In-Q-Tel as well as existing backers Georgian and OMERS. The new capital will fund the development of Xanadu’s system to reach one million qubits, a measure of information in quantum computing. (The Logic)
Talking point: This is the first public investment for BDC Capital’s new Deep Tech Venture Fund. It was announced earlier this month and focuses on early-stage investments in quantum, foundational AI, photonics and other fundamental sectors. Xanadu sells access to its more-powerful-than-normal computing system to researchers and companies via a cloud platform launched in September 2020. Burnaby, B.C.-based D-Wave, which has a different approach to quantum, also started offering a similar service last year.
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