Quantum cybersecurity solutions provider QuintessenceLabs this week announced that it has raised A$25 million (roughly US$18.8 million) in a Series B funding round. To date, the company has raised A$61.4 million (US$45 million).
The new funding round was led by Main Sequence and TELUS Ventures, with contributions from InterValley Ventures and Capital Property Group.
The Canberra, Australia-based company was founded in 2008 and is focused on delivering quantum-safe crypto solutions and services to organizations worldwide.
QuintessenceLabs offers various cybersecurity solutions and services, including the flagship Trusted Security Foundation (TSF), a secure key management platform that brings together a hardware security module (HSM) with key and policy management (KMS) and qStream, a fast quantum random number generator (QRNG).
Both TSF and QuintessenceLabs’ latest solution, qOptica Quantum Key Distribution (QKD), aim to help organizations keep data safe from quantum computing attacks and data breaches.
“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,” QuintessenceLabs’ Founder and CEO, Dr Vikram Sharma, said.