CEO Christian WeedbrookFounded 2016HQ Toronto, Canada
Xanadu is a Canadian quantum computing company focused on photonic quantum hardware and software. It develops tools such as PennyLane and cloud access for building and running quantum applications.
UpMarket does not offer Xanadu shares. This page covers Xanadu's history before it went public.
Status
Public
Nasdaq and Toronto Stock Exchange: XNDU, since Mar 2026
Last Private Valuation
Not confirmed
Not confirmed by two independent reputable sources
How to Review Xanadu's Pre-IPO History on UpMarket
Xanadu became a public company on March 27, 2026 and trades on Nasdaq and Toronto Stock Exchange as XNDU. UpMarket does not offer Xanadu shares. This page covers Xanadu's valuation and funding history before it went public.
Step 01
Check the listing details
Xanadu listed on Nasdaq and Toronto Stock Exchange under the ticker XNDU on March 27, 2026.
Step 02
Review the valuation history
See how Xanadu's private-market valuation changed across funding rounds before it went public.
Step 03
Review funding and revenue data
See reported funding rounds and revenue figures on this page, with their sources.
Step 04
Explore private companies
Accredited investors can review UpMarket's current pre-IPO offerings in companies that have not yet gone public.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
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Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Why Investors Are Watching Xanadu
Growth Signal
2025 revenue rose 188% to $4.6M year over year
Xanadu reported full-year 2025 revenue of $4.6M, up 188% from $1.6M in 2024. The company also said it increased its cash balance during the year, signaling continued commercial traction.
Market Opportunity
SPAC deal could bring about $500M to fund scale-up
Xanadu is heading toward the public markets with a SPAC transaction that could deliver roughly $500M in gross proceeds. That capital would support photonic quantum-computing development as the company targets a larger market beyond research.
Risk Factor
Public-market scrutiny rises as photonic QC remains unproven
The planned market debut comes with fresh scrutiny over whether photonic quantum computing can move beyond a science project. Xanadu's 2025 revenue was only $4.6M, highlighting the gap between commercial scale and long-term ambitions.
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Yes. Xanadu became a public company on March 27, 2026 and trades on Nasdaq and Toronto Stock Exchange under the ticker XNDU. UpMarket does not offer Xanadu shares.
Xanadu's share price is set on the public market under the ticker XNDU. The prices shown on this page are historical private-market prices from before it went public.
No. Xanadu is now a public company and UpMarket does not offer its shares. Accredited investors interested in companies that have not yet gone public can review UpMarket's current pre-IPO offerings.
Xanadu is now publicly traded, so its shares can be bought and sold on Nasdaq and Toronto Stock Exchange and their price can change significantly. Review Xanadu's public filings and consult a financial advisor before investing. UpMarket does not offer Xanadu shares.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
Xanadu became a public company on March 27, 2026, so shares held before the listing can generally be sold on the public market once any lock-up period ends. The exact terms depend on how the shares are held, for example directly or through a fund.
UpMarket does not offer Xanadu shares. The minimum for most pre-IPO offerings on UpMarket is $50,000.
Xanadu's valuation is now set by its public share price on Nasdaq and Toronto Stock Exchange. The figures on this page show its valuation history before it went public.
Xanadu is a Canadian quantum computing company focused on photonic quantum hardware and software. It became a public company in Mar 2026. UpMarket does not offer its shares.