London-based Crypto Quantique has raised $8 million in seed funding to pursue its mission of making end-to-end IoT security the new standard for all devices. The round was led by Accelerated Digital Ventures with support from Entrepreneur First and others.
Crypto Quantique uses quantum-driven cybersecurity design to provide the world’s most advanced security solutions. The founders of the company are concerned that as the world becomes more connected online, individuals and companies are more vulnerable.
“Today’s identity, security and encryption technology is failing to keep up with the onslaught of sophisticated adversaries attacking IoT systems via connected devices,” said Kumi Thiruchelvam, chief commercial officer and co-founder.
The company’s signature technology is a single chip that can generate multiple, unique cryptographic keys, digital identities which cannot be forged. These cryptographic keys are never stored, are resistant to most side-channel attacks, and can be used independently by multiple applications.
The funding will enable Crypto Quantique to bring unforgeable identity to market with management software, develop its commercial and customer engagements, and grow its software development team.
Shahram Mossayebi, CEO and co-founder said, “Crypto Quantique is proud to lead this radical cybersecurity transformation, using the most advanced techniques in cryptography and quantum physics, to enable cloud-like economy, plug and play ease of use, unforgeable device identity that is protected from manufacture to end of life, and the highest levels of foundational security.”