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About
Xanadu builds its computer out of photons and leverages the quantum properties of light, which lets the machine run at room temperature rather than colder than deep space. Christian Weedbrook wrote the founding white paper in his downtown Toronto condominium in 2016; OMERS, the Ontario pension fund, led the seed and Series A. The company is aiming at a quantum data centre by 2030 and is focused on next-generation battery development as its first application, working with partners including Volkswagen and Mitsubishi Chemical. In March 2026 it went public by merging with the Nasdaq-listed SPAC Crane Harbor Acquisition Corp and cross-listing on the TSX — the first Canada-based tech company to list there since 2021 — at a pre-merger valuation of US$3.1 billion.
Backers
OMERS, the Ontario pension fund, was the first seed investor and led the Series A (Christian Weedbrook, TechTO Founder Journey, April 2024); Toronto entrepreneur Michael Hyatt was another early backer (The Globe and Mail, March 2026); Porsche/Volkswagen put in $10M. Public since March 2026 via the Crane Harbor Acquisition Corp SPAC merger, listed on Nasdaq and the TSX.
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Quick answers
What does Xanadu do?
It builds quantum computers out of light. Because the machine uses photons, it runs at room temperature, and Xanadu argues it can be scaled by networking racks together into a quantum data centre.
Who founded Xanadu?
Christian Weedbrook, in 2016, in Toronto. He is still CEO.
What will quantum computers be used for first, according to Xanadu?
Chemistry. Christian Weedbrook said on TechTO's Founder Journey in 2024 that Xanadu is focused exclusively on next-generation battery development, and that the industry is coalescing around quantum chemistry and materials simulation as the first real applications.
Is Xanadu public?
Yes. It went public in March 2026 by merging with Crane Harbor Acquisition Corp, a Nasdaq-listed SPAC, and cross-listed on the Toronto Stock Exchange — the first Canada-based technology company to list there since 2021.