Bristol based quantum computing company raises £3.1 million
Bristol-based KETS Quantum Security has raised £3.1 million to bring to market hardware to protect data from a new generation of cyberattacks that will use quantum computers to break through all existing encryption protections.
Progress in the field of quantum computing has been advancing exponentially over the past decade. With that progress, the threat of quantum attacks on our communications is rapidly approaching ‘Q-Day’ – the day when all the private information we currently encrypt and send around the world, becomes public and easily readable by a quantum computer.
KETS Quantum Security is developing protection against quantum security threats, starting with chip-based, quantum-safe encryption development kits. For example, the technology will enable quantum-safe data centre back-ups to ensure our banking information, which most financial services providers are moving to the cloud, is quantum-safe and secure. It will also allow telecommunications providers to flexibly and securely control their networks and alert them to new attacks on their systems.
The new funding will be used to accelerate development, production, and delivery of first products. It will also allow KETS to expand key first trials of the technology in real-world applications and environments that are already in development.
KETS will continue to expand into the global marketplace beyond its first international office, which has recently been established in Paris, France.
Dr Chris Erven, CEO and co-founder of KETS Quantum Security, said: “In today’s world, we don’t go 30 seconds without touching digital technology of some kind, all of which is networked, none of which is quantum-safe.
“At KETS, we’ve made it our mission to protect the world’s most valuable resource—information—from the threat of quantum computing. This investment will allow us to make quantum-safe communications solutions ubiquitous and easily integrated. Ultimately, KETS is building a world in which we can trust our digital connections as much as our personal ones.”
Olivier Tonneau from Quantonation said, “KETS is reaching a key point in its story, with products that will now be available to deploy, bringing clients the world’s first on-chip, quantum-secured solutions protecting against the future threat of quantum computers.”
Rick Hao from Speedinvest said, “KETS is developing technology with a vision to solve some of the global cybersecurity challenges faced by the largest organisations by combining the power of quantum encryption technologies with the scalability and practicality of integrated, chip-based quantum photonics. Bristol is leading the world on building quantum technology hardware, and Speedinvest is excited to be backing great deep tech entrepreneurs here.”
The funding round was led by early stage venture fund Quantonation, which is dedicated to deep physics startups, with funding from European venture capital fund Speedinvest and Mustard Seed MAZE, an impact Venture Capital fund investing in entrepreneurs with sustainable business models across Europe.