Quantum cybersecurity firm QuintessenceLabs has secured A$25m in financing as it pushes forward its aim to take quantum cybersecurity global.
The round was led by Main Sequence and TELUS Ventures, and also including participation from InterValley Ventures and the Capital Property Group.
Founded in 2008, QuintessenceLabs claims its products combine world class security expertise with advanced science to create high-value technology, including a quantum-based random number generator and an interoperable key and policy manager as well as a broad range of strong encryption solutions. The company was recently selected as a World Economic Forum Global Innovator.
The firm commented, “The next greatest threat to data and information is the advent of quantum computing. Quantum computing capabilities and power transcend that of current computing, making today’s information vulnerable to quantum computing attacks and data breaches. Organisations need to start assessing their cybersecurity posture from a quantum-safe perspective.”
According to QuintessenceLabs, this recent investment underscores its commitment of providing quantum safe crypto solutions and services to support security communities globally.
QuintessenceLabs founder and CEO Vikram Sharma said, “We are delighted to have secured investments from Main Sequence and TELUS Ventures and be recognized for our breakthrough commercialization of quantum enhanced cybersecurity solutions. Safeguarding data—our most valuable resource—has never been more critical and we look forward to this exciting new growth stage while continuing to develop world-leading solutions to secure our increasingly digital lives.”
Main Sequence partner Bill Bartee added, “As computing power increases exponentially, the tools needed to secure critical data and assets must stay several steps ahead. Dr Sharma and the team at QuintessenceLabs are global leaders in developing quantum-based cybersecurity tools that help protect sovereign and commercially sensitive information. We’re excited to support the QuintessenceLabs team as they scale their business and provide customers with a critical layer of protection.”
Copyright © 2021 RegTech Analyst
Copyright © 2018 RegTech Analyst
