Vienna-based cybersecurity startup Quantum Industries, specializing in quantum cryptography, has secured $10 million to enhance European infrastructure security, with funding led by Sparring Capital Partners, Findus Ventures, and KGAL.
- Founded in 2023 by Rupert Ursin and Felix Tiefenbacher, Quantum Industries develops Quantum Key Distribution (QKD) solutions to safeguard critical infrastructure, governments, financial institutions, and industries against emerging quantum computing threats.
- Quantum Industries develops advanced quantum cryptographic systems, including:
- Polarization Entangled Photon Pair Sources: High-speed photon pair sources designed for research and development, enabling efficient quantum communication.
- Long-Distance Quantum Key Distribution (QKD) Systems: Secure communication over distances up to 350 km using entangled photons, ensuring long-range encryption.
- High-Speed QKD Systems: Optimized for shorter, inter-city distances (~10 km), utilizing superconducting nanowire single-photon detectors (SNSPD) for extremely fast and secure key distribution.
- The startup's QKD solutions use entangled photon pairs for secure key distribution, instantly detecting any interception. Unlike traditional encryption, QKD provides information-theoretic security, making it resistant to future quantum attacks.
Details of the deal
- The funding round was supported by Sparring Capital Partners, an investment bank specializing in M&A advisory and capital raising for technology-driven companies and private equity firms, Austria-based Findus Ventures, and KGAL.
- Quantum Industries will use the $10 million funding to scale operations, enhance their Quantum Key Distribution technology, expand globally, and accelerate commercialization.
