Xanadu Progresses to Stage B of DARPA's Quantum Benchmarking Initiative, Obtaining Up to $15 Million in Funding

Written by Emily J. Thompson, Senior Investment Analyst

Source: Globenewswire

Updated: Nov 06 2025

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Source: Globenewswire

Xanadu's Progress in Quantum Computing: Xanadu Quantum Technologies has advanced to Stage B of DARPA's Quantum Benchmarking Initiative, showcasing its potential for utility-scale quantum computing and emphasizing its photonic approach.
Business Combination Announcement: The company has entered a business combination agreement with Crane Harbor Acquisition Corp., expected to yield approximately $500 million in gross proceeds, facilitating its listing on Nasdaq and the Toronto Stock Exchange.
Technological Advantages: Xanadu's photonic quantum computing architecture offers benefits such as room-temperature operations, improved qubit connectivity, and a modular design, with its Aurora system serving as a proof-of-concept for large-scale quantum computing.
Future Plans and Risks: The company aims to develop fault-tolerant quantum computers by 2029, while acknowledging various risks and uncertainties associated with emerging technologies and market conditions that could impact its future performance.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.