Quantum technology harnesses the principles of quantum mechanics to achieve breakthroughs in computing, communication, and encryption. One of its most powerful applications is quantum secure communication, which uses quantum entanglement to create encryption methods that are fundamentally unhackable.
Big investment in quantum tech
Quantum Industries (QI), which specialises in quantum secure communications for critical infrastructure, has completed its seed financing round, raising $10 million in fresh capital. The round was led by Sparring Capital Partners and Findus Venture, two prominent European venture capital firms, along with KGAL, a global asset manager specialising in infrastructure investments.
This funding will enable the company to commercialise its groundbreaking technology and scale operations to meet the increasing global demand for quantum-secure communication solutions.
Unhackable quantum security
Cybercrime is projected to cost over $10 trillion by 2025, with critical infrastructure being the target of more than half of all cyberattacks. Conventional encryption methods are vulnerable to quantum computing, which will be able to break current encryption systems within seconds. QI’s technology provides a future-proof solution to this threat, leveraging a fundamental law of physics to ensure absolute security.
Enabling the future of quantum data centres
Founded in 2023 in Vienna by Dr Felix Tiefenbacher and Dr Rupert Ursin with over 40 years of pioneering research, QI leads the next generation of secure communications with its entanglement-based Quantum Key Distribution (eQKD) technology.
It tackles one of the most pressing technological challenges of our time: securing global communications against the looming threat of quantum computing which will break today’s encryption systems in seconds leaving sensitive data unprotected against hackers and espionage.
The company is uniquely positioned to build a pan-continental quantum-secure communication network. Unlike other solutions, QI’s technology provides the highest level of security over the longest distances while maintaining efficiency and reducing costs.
As a key supplier of the European Quantum Communication Infrastructure programme (EuroQCI), QI is collaborating with national and international critical infrastructure providers to establish the foundations of the most secure communication systems in the world. In its second year of operation, the company has already secured €1.8 million in booked sales.
With growing demand for computing power, QI’s technology is set to enable the next generation of quantum data centres. These facilities will connect multiple quantum computers to store, process, and secure data. By generating record numbers of entangled photons, the building blocks of quantum-secure communication, QI’s technology ensures secure and efficient connectivity between multiple quantum computers within these data centres.
What’s next for QI?
With a team of physicists behind Nobel Prize-winning research, QI is at the forefront of the quantum revolution. Its ability to provide a secure, scalable, and cost-effective quantum communication network is expected to play a crucial role in shaping the future of cybersecurity for critical infrastructure worldwide.
Europe is the second-largest government investor in quantum technologies, trailing only China but ahead of the United States. With geopolitical tensions driving increased investment in secure communications, QI has a unique opportunity to become the European and Western leader in quantum communications.
“We are thrilled to have the support of both private investors and public institutions as we drive forward the next generation of quantum-secure communications. The financial and societal cost of cyberattacks on critical infrastructure is huge so organisations cannot afford to compromise on security,” said Dr. Felix Tiefenbacher, co-CEO and Co-Founder of Quantum Industries GmbH. “The enthusiasm for our technology is incredible—every potential customer we’ve spoken to recognises its value and wants to learn more. With our first customer projects already underway, this marks a significant step towards commercialisation.”
Dr. Rupert Ursin, co-CEO and Co-Founder of Quantum Industries GmbH, added: “We have harnessed more than 40 years of Nobel Prize-winning scientific research to set a new benchmark for quantum secure communications. From day one, our goal has been to establish a global leader in this field. With this investment, we now have the resources and the backing to realise that vision on a global scale. It’s a vision our investors share, and together, we aim to establish Quantum Industries as a key player in securing the future of global communications for critical infrastructure.”
Investors’ views
“With surging demand in computing power for artificial intelligence and convergent technologies, we see unprecedented growth in data centres. At the same time, the potential of quantum computing requires new and much higher standards in cybersecurity and encryption. Quantum Industries effectively addresses this emerging need and we are proud to support them”, commented Michael Steiner, CEO of Sparring Capital Partners.
“Quantum technology will be a decisive force over the next decades and remains one of few areas of technology in which Europe is globally leading. QI and its world-class team are the prime example in this context as they have developed and are commercialising the most potent quantum key distribution system globally available”, commented Christian Federspiel, founder and CEO of Findus Venture.
“When it comes to critical infrastructure, cybersecurity is non-negotiable. Quantum Industries is the only company able to provide that absolute security. As specialist investors in infrastructure, we recognise the urgent need for a Europe-wide secure communications network and look forward to working with Quantum Industries to deliver that,” commented Gregory Ingram, Shareholder and Supervisory Board Member of KGAL
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