QNu Labs Secures $6.5 Million in Pre-Series A1 Funding Led by Ashish Kacholia and Speciale Invest

• ByStartupStory     |    December 15, 2023

Quantum cryptography solutions provider QNu Labs has successfully concluded its pre-Series A1 funding round, raising $6.5 million. The funding, spearheaded by Ashish Kacholia, Director-Research of Lucky Investments, and Speciale Invest, is earmarked for product development and bolstering the company’s global market presence.

Sunil Gupta, Co-founder and CEO of QNu Labs, expressed enthusiasm about the investment, stating, “With these funds, we’re poised to accelerate the completion of our state-of-the-art quantum technology solutions, further enhancing our product suite that’s already leading the market.” QNu Labs specializes in providing security solutions for data transmitted across the internet, cloud, and edge.

The funding will also facilitate strategic hires in key leadership roles within sales, marketing, and engineering. QNu Labs aims to strengthen its position as a leader in quantum-safe cybersecurity, addressing the emerging threat posed by quantum computers to conventional encryption algorithms like RSA.

Quantum computers, while still in their early stages, have the potential to compromise the security of data currently considered safe by cracking commonly used encryption methods.

Vishesh Rajaram, Managing Partner at Speciale Invest, highlighted the conviction in QNu Labs’ potential, saying, “Our initial investment in QNu Labs back in 2021 was driven by our belief in their potential to revolutionize the quantum technology sector. Seeing them now, achieving the milestone of market entry only reinforces our conviction.”

Founded in 2016 at IIT Madras Research Park, QNu Labs focuses on quantum-safe cybersecurity. The company holds patents for India’s first commercially ready quantum-safe security products and solutions. Leveraging photon light particles, QNu Labs ensures data protection with dynamically changing encryption keys. The company’s product portfolio includes Tropos (random number generator), Armos (quantum key distributor), and Hodos (quantum secure platform for key management). These solutions cater to industries such as banking, telecommunications, defense, and Original Equipment Manufacturers (OEMs).

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