On May 25, 2021, Xanadu secured US$100 million in a Series B financing round led by Bessemer Venture Partners. The funding will be used to help accelerate the development of Xanadu’s photonic quantum computer, amid a global race to commercialize the technology.
Founded in 2016, Xanadu Quantum Technologies Inc. is a Canadian quantum technology company, and one of the world's leading photonic quantum hardware providers.
Bessemer Venture Partners is a venture capital firm that funds consumer, enterprise, and healthcare startups.
Osler, Hoskin & Harcourt LLP advised Xanadu with a team led by Chad Bayne and consisting of Andrew Irwin, Sahil Chopra and Satnam Dosanjh (Emerging and High Growth Companies).