News Summary

Toronto-based Xanadu and Coquitlam, BC-based Photonic, two Canadian quantum computing companies, have secured funding as semi-finalists in the Canadian Department of National Defence’s IDEaS program. This initiative, aimed at supporting defence technology advancements, has awarded $1 million CAD each to these companies to further their projects. Xanadu plans to develop quantum algorithms for next-generation battery resilience, while Photonic intends to enhance quantum repeater and networking technology. This funding is part of a broader effort by the Canadian government to increase defence spending and retain tech firms amid competition from the US.