London startup Crypto Quantique raises $8m

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The London-based start-up, Crypto Quantique a specialist in quantum driven cybersecurity, has announced that it has raised an $8 million seed round led by ADV along with participation from Entrepreneur First.

The company's disruptive cybersecurity technology, uses advanced techniques in cryptography and quantum physics to address the problems associated with end-to-end IoT security. According to the company, it has developed a single chip that can generate multiple, unique, unforgeable cryptographic keys on-demand – and these cryptographic keys are never stored, are resistant to most side-channel attacks, and can be used independently by multiple applications on demand.

“The proliferation of catastrophic end-point derived cyber-attacks is unacceptable, dangerous and threatens to irrevocably undermine trust in our connected world,” said Shahram Mossayebi, CEO and co-founder of Crypto Quantique. “Silicon, device, software and solution providers must urgently work together so that device security becomes a foundation rather than an add-on, and end-to-end IoT security is the new normal.

"Crypto Quantique is leading 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”

The funding will enable Crypto Quantique to bring unforgeable identity to market with powerful key and lifecycle management software. Crypto Quantique is also planning to grow its software development team to enhance its Key Management Service (KMS) and cryptography.

The company’s KMS, a key component in the overall solution and has been designed to be integrated into any cloud based or on-premise IoT platform facilitating seamless, zero-touch secure device onboarding for thousands of devices in seconds as well as ongoing device attestation, revocation and secondary identity provisioning capabilities. This will enable enterprises to achieve full end to end ownership and control of IoT security with a future proof foundation securing, for example, data in transit, device attestation, data at rest, mutual authentication, and device boot.

“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. “Crypto Quantique brings a new approach to a critical challenge for the IoT security industry. Our solution delivers an unforgeable hardware derived root of trust that will enable true vertical integration from the device through the entire network to cloud computing services. I am excited to help bring our this truly innovative quantum driven cybersecurity to market.”