Xanadu

Xanadu is a Toronto-based photonic quantum computing company pioneering room-temperature quantum computing. In November 2025, announced SPAC merger at $3.6 billion valuation expected to raise ~$500M (including $275M PIPE). Canadian government support: $3.75 million from FedDev Ontario (February 2024), $1M CAD from NORAD modernization contest for battery algorithms.

December 2025: Signed MoU with Singapore's A*STAR (Agency for Science, Technology and Research) to advance photonic quantum computing collaboration in the Asia-Pacific region.

November 2025: Selected for DARPA Stage B of Quantum Benchmarking Initiative (up to $15M funding), advancing toward utility-scale quantum computing by 2033.

Strategic partnerships: A*STAR Singapore (December 2025), Applied Materials (300mm manufacturing process for superconducting sensors), DARPA (QBI Stage B, target full system by 2033), Corning (fiber optic networking), Toyota Research Institute (October 2024), University of Toronto + NRC Canada (battery algorithms), Open Quantum Design (founding partner).

Technology: Aurora 12-qubit photonic quantum computer, $10 million photonic packaging facility in Toronto. PennyLane quantum software platform.

Market positioning: photonic quantum computing leader going public via SPAC (2025), expanding Asia-Pacific presence through A*STAR partnership, DARPA Stage B selection, room-temperature operation advantage.