Quantum-secure networking devices maker Qunnect this week announced raising $8 million in a Series A funding round that brings the total investment in the company to $12.4 million.
The new investment round was led by Airbus Ventures, with additional participation from Impact Science Ventures, Motus Ventures, NY Ventures, Quantonation, and SandboxAQ.
The New York-based company emerged in 2017 as a spin-off venture from the Quantum Information Technology group at Stony Brook university, focusing on the engineering of quantum-secure networking solutions that can be deployed on existing telecom infrastructure.
Qunnect, which started selling the world’s first quantum memory last year, plans to deliver its first-generation product suite in 2023, to provide a commercial distributed entanglement network.
The company also aims to develop long distance quantum communication protocols that should eliminate the vulnerabilities and security risks of first-generation Quantum Key Distribution systems.
Qunnect says it will use the new funds to advance product development, scale manufacturing, and build a multi-node R&D quantum network testbed that will be connected to the existing fiber optic cable in New York City.
“This testbed will open the door for customers in financial services, critical infrastructure, and telecom to test our technologies in the New York metropolitan area. This project allows us to showcase our first-of-their-kind quantum memory and entanglement sources, as well as our quantum network support hardware for precise timing and qubit stabilization,” Qunnect CEO Noel Goddard said.
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