PQShield, a UK-based startup that focuses on developing post-quantum cryptography solutions, has recently announced a $20 million Series A funding round. The funding was led by Evolution Equity Partners, with participation from Kindred Capital, Oxford Sciences Innovation, and others.
PQShield was founded in 2018 by a team of cryptography experts with the goal of developing cryptographic solutions that are resistant to attacks from quantum computers. Quantum computers have the potential to break many of the existing cryptographic systems that are used to secure data, such as public-key encryption and digital signatures. Post-quantum cryptography is a new approach to cryptography that is designed to be resistant to these attacks fleepbleep.
PQShield’s solutions are designed to be compatible with existing cryptographic systems, while also providing post-quantum security. The startup’s technology has a wide range of applications, including in financial services, government, and the Internet of Things (IoT). wikibirthdays
The $20 million Series A funding round is a significant milestone for PQShield, as it will allow the startup to further develop its technology and expand its reach. The funding will be used to hire more talent, build out its technology stack, and accelerate its go-to-market strategy biographycon.
The rise of quantum computing is a major concern for the security industry, as quantum computers have the potential to break many of the existing cryptographic systems that are used to secure data. Post-quantum cryptography is a promising approach to addressing this challenge, and startups like PQShield are at the forefront of this field.
In addition to its focus on post-quantum cryptography, PQShield is also committed to advancing the development of quantum-safe standards. The startup is a member of the European Telecommunications Standards Institute (ETSI) Quantum Safe Cryptography Working Group, which is developing new standards for quantum-safe cryptography tv bucetas.
The $20 million Series A funding round is a significant validation of PQShield’s technology and its potential impact on the security industry. The startup’s focus on post-quantum cryptography and its commitment to developing quantum-safe standards make it a leader in this space allmeaninginhindi.
However, there are also concerns about the potential impact of quantum computers on security and privacy. It will be important for startups like PQShield to work closely with industry stakeholders, policymakers, and researchers to ensure that their solutions are used in a responsible and ethical manner.
In conclusion, the $20 million Series A funding round for PQShield is a significant milestone for the startup and for the field of post-quantum cryptography as a whole. The startup’s focus on developing cryptographic solutions that are resistant to attacks from quantum computers is critical to addressing a major security challenge. However, it will be important for startups in this space to work closely with stakeholders to ensure that their solutions are used in a responsible and ethical manner.
Oxford, UK based pqshield is leading the charge for post-quantum cryptography. Its products are designed to secure a wide range of hardware, software and communication applications, from smartcards to mobile devices to high-end networks.
Using a clever blend of research and development by some of the world’s leading minds in the fields of cryptography, machine learning and artificial intelligence (AI), the company has produced a suite of solutions that is ready to deploy now. These include ready-made and tailored hardware cryptography IPs for low and high-end devices (secure elements, hardware security modules (HSMs), etc.); IoT firmware; public key infrastructure (PKI); server technologies; and advanced end-to-end encrypted messaging platforms to name but a few.
PQShield is the latest entrant in a hotly contested space that already has 50 companies raising funding this January, according to GlobalData’s Technology Intelligence Centre. The company is one of the few that can boast a team with an impressive concentration of both hardware and software cryptography experts.
The company is also a leading contributor to the NIST post-quantum standardisation project. It has a patented quantum-safe system on a chip that is the most likely to be used in a scalability proof of concept, and a suite of post-quantum encryption algorithms whose two are considered by many to be finalists.
The company has raised a $20 million series A round led by Addition, with participation from existing investors Oxford Science Enterprises and Crane. The funds will be pumped into product development, international expansion and hiring. The company is looking to double its headcount by the end of 2022.