Accelerated Digital Ventures leads $8m funding to Crypto Quantique
Crypto Quantique, a privately held company with a mission to revolutionise the IoT with quantum driven cybersecurity, today announced that it has raised an $8 million seed round led by London-based Accelerated Digital Ventures along with participation from Entrepreneur First, amongst others.
Crypto Quantique’s disruptive cybersecurity technology, uses the most advanced techniques in cryptography and quantum physics to address the growing challenges of end-to-end IoT security. Its unique feature is that a single chip can generate multiple, unique, unforgeable cryptographic keys on-demand – these cryptographic keys are never stored, are resistant to most side-channel attacks, and can be used independently by multiple applications on demand.
“The proliferation of catastrophic end-point derived cyber-attacks is unacceptable, dangerous and threatens to irrevocably undermine trust in our connected world,” said Shahram Mossayebi, CEO and co-founder of Crypto Quantique.
“Silicon, device, software and solution providers must urgently work together so that device security becomes a foundation rather than an add-on, and end-to-end IoT security is the new normal. Crypto Quantique is proud to lead this radical cybersecurity transformation, using the most advanced techniques in cryptography and quantum physics, to enable cloud-like economy, plug and play ease of use, unforgeable device identity that is protected from manufacture to end of life, and the highest levels of foundational security”
The funding will enable Crypto Quantique to bring unforgeable identity to market with powerful key and lifecycle management software.
Crypto Quantique will also grow its software development team to enhance its Key Management Service (KMS) and cryptography. This will enable enterprises to achieve full end to end ownership and control of IoT security with a future proof foundation securing, for example, data in transit, device attestation, data at rest, mutual authentication, and device boot.
“Today’s identity, security and encryption technology is failing to keep up with the onslaught of sophisticated adversaries attacking IoT systems via connected devices,” said Kumi Thiruchelvam, chief commercial officer and co-founder.
“Crypto Quantique brings a new approach to a critical challenge for the IoT security industry. Our solution delivers an unforgeable hardware derived root of trust that will enable true vertical integration from the device through the entire network to cloud computing services. I am excited to help bring our this truly innovative quantum driven cybersecurity to market.”