"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."