News

Federal fund backs Xanadu with $40M to develop quantum computing technology

OTTAWA — The federal government’s innovation fund is providing Toronto-based Xanadu Quantum Technologies with $40 million in financing to develop the building blocks for a quantum computer that can solve business problems. 

The venture-backed firm is one of a core group of startups across the country working to commercialize advances in the disruptive technology field. “It can be as powerful and as broadly influential as the internet one day,” Xanadu CEO Christian Weedbrook said in an interview with The Logic.

    Subscribe now to start reading premium, award-winning journalism.

    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.

    In-depth, agenda-setting reporting

    Great journalism delivered straight to your inbox.

    Briefing

    Home Depot broke privacy rules by using customer data in Facebook ad tool: Regulator

    New federal research-security process finds 32 applications too risky to fund

    Imperial Oil announces $720M investment in Alberta renewable fuels facility

    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