PQShield has secured $37 million USD in Series B funding led by Addition, with Chevron Technology Ventures, Legal & General, Braavos Capital, and Oxford Science Enterprises also contributing. This investment will enable PQShield to expand its provision of quantum-resistant cryptographic solutions, addressing escalating global demand across hardware, software, and communications sectors. The funding coincides with the imminent release of NIST’s official standards for post-quantum cryptography (PQC), marking a critical milestone in the widespread adoption of quantum-safe security measures worldwide.
Since its inception in 2018, PQShield has garnered recognition for its pioneering work in post-quantum cryptography, catering to diverse industries including finance, automotive, and defense. The company’s strategic focus on research and development has facilitated the deployment of secure solutions essential for protecting sensitive data amidst advancing cyber threats. With a team comprising cryptography and engineering experts, PQShield remains committed to guiding businesses and governments through the transition to PQC standards, ensuring robust digital security frameworks for the future.
The Series B funding will further strengthen PQShield’s operational capabilities, supporting its role in influencing global standards through collaborations with entities like NIST and ISO. As regulatory directives increasingly mandate the adoption of quantum-resistant encryption technologies, PQShield is poised to play a pivotal role in safeguarding critical infrastructures and data assets worldwide.
A press release from PQShield announcing the fund raise can be seen here.
June 20, 2024