evolutionQ Secures US$5.5 Million in Series A Funding for Global Expansion
evolutionQ, a Kitchener-Waterloo-based company pioneering the development of quantum-safe cybersecurity products, is pleased to announce the closing of US$5.5 million in Series A funding. Quantonation led the investment, with participation from the USA and Canada, including The Group Ventures, a Toronto-based fund focused on early-stage tech start-ups.
With these funds, evolutionQ plans to advance product development, expand service offerings, and grow sales across Europe and North America, building upon the success of its flagship product, BasejumpQDN™. The quantum-safe software allows organizations building a network based on Quantum Key Distribution devices to easily deploy and cost-effectively manage quantum technologies throughout their network.
evolutionQ has been founded by the most remarkable team of academic founders in the field of quantum-safe cybersecurity, with seminal contributions in the sector and a unique viewpoint giving them the ability to understand the threat that emerging quantum computers represent for companies, governments and individuals. I have been very impressed with their focus on creating value for their customers by reducing expenses through optimal use of quantum-safe devices and minimizing technology-switching costs between hardware vendors. They are providing the missing component to build technologically and economically effective quantum networks, towards the Quantum Internet. We are very excited to join them in their entrepreneurial journey in North America and EuropeChristophe Jurczak, Quantonation
This new investment complements perfectly, with the software layer, Quantonation’s investments in the Communications and Networks segment (Qunnect, QphoX, Kets, Cryptonext).