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Xanadu Quantum secures a C$195 million ($140 million) loan from the Canadian government to build a manufacturing plant for photonic components. This support marks the largest federal investment in quantum technology in Canada.
PRIVATEAug 28, 2026•about 3 hours ago
Amount Raised
$141 Million
Round Type
Debt Financing
Toronto
Description
The Canadian government will loan C$195 million ($140.78 million) to Xanadu Quantum to establish a plant for photonic components in Toronto. This loan highlights the government's commitment to supporting the growing quantum computing sector. The funding is expected to create up to 275 jobs. Xanadu aims to utilize this loan for its manufacturing plant without disclosing specific terms.
Company Information
Company
Xanadu Quantum
Location
Toronto, Ontario, Canada
About
Xanadu Quantum is a startup founded in 2016 that focuses on building quantum computers using photonic technology, which is integral to fiber-optic communications. The company's system aims to operate at room temperature, addressing the common requirement for extreme cold in other quantum systems. Its innovations have attracted clients such as AMD and Tower Semiconductor. Xanadu recently went public through a merger with a special purpose acquisition company.
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Toronto