QNu Labs, a provider of quantum cryptography solutions, has concluded its pre-Series A1 funding round, securing $6.5 million.
The funding, led by Ashish Kacholia, Director-Research of Lucky Investments (also Co-founder of Hungama Digital), and Speciale Invest, will be utilised for product development and enhancing the company’s global market presence.
The funds will also support the company’s plans for strategic hires for leadership roles in sales, marketing, and engineering
“With these funds, we’re poised to accelerate the completion of our state-of-the-art quantum technology solutions, further enhancing our product suite that’s already leading the market,” said Sunil Gupta, Co-founder and CEO, QNu Labs.
The startup offers security for data across the internet, cloud, and edge. QNu Labs says it has built a comprehensive ecosystem involving academia, technology partners, professional services partners, vendors, and suppliers.
While still nascent, quantum computers pose a cybersecurity threat. Their ability to crack common encryption algorithms, like RSA, could render vast swathes of data currently deemed secure, vulnerable to future decryption.
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“Our initial investment in QNu Labs back in 2021 was driven by our belief in their potential to revolutionize the quantum technology sector. Seeing them now, achieving the milestone of market entry only reinforces our conviction,” Vishesh Rajaram, Managing Partner, Speciale Invest.
Founded in 2016 at IIT Madras Research Park by a group of deep tech enthusiasts, QNu Labs focuses on quantum-safe cybersecurity. The company has patents for India’s first commercially ready quantum-safe security products and solutions.
The company uses photon light particles to protect data and ensure constantly changing encryption keys. The company’s portfolio includes Tropos (random number generator), Armos (quantum key distributor), and Hodos (quantum secure platform for key management), catering to industries like banking, telecommunications, defence, and OEMs.
Edited by Kanishk Singh
