Xanadu Quantum goes public on Nasdaq and TSX

Funding Rounds

▤ Summary

Xanadu Quantum Technologies is now listed on Nasdaq and the Toronto Stock Exchange under the ticker XNDU after merging with SPAC Crane Harbor Acquisition Corp, raising about US$302 million in gross proceeds. The company is negotiating up to C$390 million in potential funding from the Canadian and Ontario governments to expand technology development, manufacturing, and commercialization. DARPA advanced Xanadu to Stage B of its Quantum Benchmarking Initiative with up to US$15 million available and the Canadian Quantum Champions Program may provide up to C$23 million. Xanadu combines photonic hardware with its PennyLane software and cloud platform and serves customers across defence, aerospace, pharmaceuticals, semiconductors, and automotive sectors including Lockheed Martin, AMD, Rolls-Royce, and Applied Materials.

$ Funding

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Amount $302.0M Total raised
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Date March 30, 2026 Announcement date
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Investors AMD, Applied Materials, Volkswagen, DARPA, Nasdaq, Tower Semiconductor Lead investors
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Company xanadu.ai Funded company

▥ Classifications

industries
No industries detected
applications
Data Management

◇ AskAI Classifications

Labels
Artificial Intelligence Quantum Computing Software Software Development

▦ Linked Companies

Xanadu
$10M to $25M