QUANTUM CLOUD COMPUTING STARTUP XANADU RAISES $32 MILLION IN SERIES A FUNDING
The future is bright for photonic quantum cloud computing company Xanadu. The company announced this week that it has raised $32 million in Series A financing. OMERS Ventures led the round with participation from Georgian Partners, Radical Ventures, Real Ventures, Silicon Valley Bank and Tim Draper. To-date, Xanadu has raised $41 million in capital.
Xanadu is not shying away from what it believes is the future of quantum computing. CEO Christian Weedbrook founded the startup in 2016 based on the discovery that photons—particles of light—can be used for quantum computing. “Confidence in Xanadu’s photonic approach to building a quantum computer is reflected in the strong interest from the highly reputable VC firms we have in this Series A financing,” said Weedbrook, in a statement
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