On May 8, 2018, Xanadu announced that it has completed its Seed Financing round of $9 million. The round was led by OMERS Ventures with participation from Golden Ventures and Real Ventures.
The funds will help capitalize on the rapid development of Xanadu's unique approach to quantum computing – harnessing photons (particles of light) to perform complex computations. Xanadu is working on photonic quantum architecture that could enable the creation of the world’s most powerful computer and solve problems in machine learning, chemistry, finance, sensing, and drug discovery.
Xanadu is a Toronto-based quantum technologies company that designs and integrates quantum silicon photonic chips into existing hardware to create truly full-stack quantum computing.
Osler, Hoskin & Harcourt LLP represented Xanadu with a team consisting of Chad Bayne, David Jamieson and Andrew Irwin (Corporate).