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Wednesday, 27 October 2021 12:47

QuintessenceLabs raises $25 million in Series B round Featured

By
QuintessenceLabs founder and CEO Vikram Sharma QuintessenceLabs founder and CEO Vikram Sharma

Quantum cybersecurity specialist QuintessenceLabs has raised $25 million in its Series B round led by Main Sequence and Telus Ventures, with participation from InterValley Ventures and Capital Property Group.

"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 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."

Main Sequence partner Bill Bartee said "As computing power increases exponentially, the tools needed to secure critical data and assets must stay several steps ahead.

"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 Ventures vice president of corporate strategy Mario Mele said "Telus is at the forefront of network security practices with an eye on the future of quantum-safe technologies.

"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."


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Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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