QNu Labs plans to utilize the investment for extensive R&D advancements, extending products and technology to a wider customer base through key Go To Market associations in the US and Europe
QNu Labs, India’s first quantum-safe cybersecurity technology company, has recently raised funding from deep-tech venture capital firm Speciale Invest. WAOO Partners LLP and another venture capital fund along with a few marquee angel investors and promoters also participated in the fresh funding round for the company.
QNu Labs plans to utilize the investment for extensive R&D advancements, extending products and technology to a wider customer base through key Go To Market associations in the US and Europe and building partnerships for Satellite-based Quantum Key Distribution (QKD) technology. The company has plans to hire seasoned product and technology industry experts to strengthen their core team extensively.
Founded in 2016 by deep tech enthusiasts, QNu Labs is working to solve the organizational challenges of protecting the integrity and confidentiality of data and information by offering quantum-safe cybersecurity. The product and solutions from QNu Labs offer to safeguard crucial organizational data on the internet, in data centres and in the cloud. With increasing workplace transformation and massive adoption of digitization, QNu Labs through its extensive portfolio of technology-led products like Quantum Key Distribution (QKD), Quantum Random Number Generator (QRNG) and Post Quantum Cryptography (PQC), plans to mitigate data security risks across verticals such as defence, government, healthcare, financial institutions, and telecommunications to name a few.
Speaking on the funding, Sunil Gupta, Co-Founder & CEO, QNu Labs said, “After having proven our products and solutions with customers in India and other regions, we are excited by the emerging use cases and adoption of the quantum-safe cybersecurity tech across industry verticals. We envision accelerating the deployment of quantum secure solutions in the enterprise market, specifically in the BFSI, healthcare, and telecom sectors. In the next 12-18 months, we are planning to expand our footprints globally by launching unique & compelling quantum security solutions for customers with the mission of making quantum-safe cybersecurity technology ubiquitous.”
Srinivasa Rao Aluri, Co-Founder & Chairman, QNu Labs said, “I am glad as well as excited that in just 5 years we are on our path to realize the vision of building a unique deep-tech company from India. Quantum tech has accelerated beyond anyone’s imagination in the last 2 years and we believe that we are emerging as a key cybersecurity leader with the quantum tech at the right time.”
Vishesh Rajaram, Managing Partner, Speciale Invest said, “The synergistic alignment of cryptography technology and quantum physics will offer futuristic, accelerated, and new-age solutions to the in-demand cybersecurity challenges that organizations face today in transforming their functions and adopting digitization. QNu Labs is strategically placed to tap into the market with their unique value propositions for the hyper-connected digital world. We are certain that the founders are well on their path to speed-up solutions deployment and also to expand their reach to the US and European market soon.”
QNu Labs was incubated at IIT Madras Research Park in 2016 and later began commercial operations from Bengaluru in 2017. The company had raised INR 32 Cr. before this round of funding through a consortium of angel investors, promoters and other strategic investors.
Source: Business World