Canada-based startup Xanadu has raised US$100 million in Series C to build a fault-tolerant photonic quantum computer capable of reaching a million qubits, backed by Canada’s largest equity firm Georgian and other venture capitals. With a total valuation of US$1 billion, the unicorn has raised US$250 million in total since its foundation in 2016. Most notably, automaker Porsche – a Volkswagen subsidiary – is among Xanadu’s backers, marking another step taken by Volkswagen towards quantum computing research.