QuintessenceLabs has announced it has raised a $25 million round of capital funding led by Main Sequence and TELUS Ventures, with participation from Mizuho Financial Group-backed InterValley Ventures and Terry Snow’s Capital Property Group.
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.
“We are delighted to have secured investments from Main Sequence and TELUS Ventures and be recognised for our breakthrough commercialisation of quantum-enhanced cybersecurity solutions,” said QuintessenceLabs’ Founder and CEO, Dr. Vikram Sharma. “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.”
“As computing power increases exponentially, the tools needed to secure critical data and assets must stay several steps ahead,” said Bill Bartee, Partner at Main Sequence. “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.”
“TELUS is at the forefront of network security practices with an eye on the future of quantum-safe technologies,” said Mario Mele, Vice President Corporate Strategy, TELUS Ventures. “We’re pleased to align with the leader in this space to gain a broader lens into cybersecurity innovations and how they may impact our industry.”
