Dr Sharma and the team at QuintessenceLabs are global leaders in developing quantum-based cybersecurity tools that help protect sovereign and commercially sensitive information. 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. CANBERRA, Australia- ( BUSINESS WIRE )-QuintessenceLabs, a pioneer and leader in quantum cybersecurity solutions, announced today that it has recently raised a A25 million round of capital. 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 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. Organisations need to start assessing their cybersecurity posture from a quantum-safe perspective.”Īccording to QuintessenceLabs, this recent investment underscores its commitment of providing quantum safe crypto solutions and services to support security communities globally. Quantum computing capabilities and power transcend that of current computing, making today’s information vulnerable to quantum computing attacks and data breaches. The firm commented, “The next greatest threat to data and information is the advent of quantum computing. The company was recently selected as a World Economic Forum Global Innovator.
QUINTESSENCELABS 25M MAIN SEQUENCE VENTURESPARKTECHCRUNCH GENERATOR
The round was led by Main Sequence and TELUS Ventures, and also including participation from InterValley Ventures and the Capital Property Group.įounded 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. In July 2017, QuintessenceLabs received a grant of AU$3.26M from the Australian Department of Defence's Innovation Hub to develop a free-space quantum key distribution system.Quantum cybersecurity firm QuintessenceLabs has secured A$25m in financing as it pushes forward its aim to take quantum cybersecurity global. Westpac Group, a major investor, extended two rounds of funding to QuintessenceLabs in 20, respectively. The company was founded in 2008 by Dr Vikram Sharma, following research on quantum technology conducted at The Australian National University by Sharma, Thomas Symul, Andrew Lance and Ping Koy Lam. QuintessenceLabs produces encryption key and policy management products that conform to the Key Management Interoperability Protocol (KMIP), as well as a hardware random number generator, development of a quantum key distribution (QKD) system, and other encryption solutions that include automatic key zeroization. (or QuintessenceLabs) is a cybersecurity company headquartered in Canberra, Australia with offices in San Jose, California.
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