![]() ![]() QuintessenceLabs produces encryption key and policy management products that conform to the Key Management Interoperability Protocol (KMIP), as well as a hardware random number generator, development of a quantum key distribution (QKD) system, and other encryption solutions that include automatic key zeroization. (or QuintessenceLabs) is a cybersecurity company headquartered in Canberra, Australia with offices in San Jose, California. "QuintessenceLabs is a global leader in developing quantum-based cybersecurity tools that help protect sovereign and commercially sensitive business and provide customers with a critical layer of protection.QuintessenceLabs Pty Ltd. "As computing power increases exponentially, the tools needed to secure critical data and assets must stay several steps ahead," said Bill Bartee, partner of Main Sequence. "Safeguarding data - our most valuable resource - has never been more critical, and we look forward to this exciting new growth stage," said Sharma. The company has 50 employees as of September 2021. Australia's quantum technology is projected to generate more than $4 billion in revenues and 16,000 new jobs by 2040, as per the report. The quantum communications and cybersecurity market is expected to account for about $16 billion globally. The company will implement a planned geographic and sectoral expansion strategy as the world starts to reopen around 2022, he mentioned.Īustralia's national science agency CSIRO recently released a report on Australia's quantum industry in which it forecasts an $86 billion global market size in the quantum industry by 2040. QuintessenceLabs deferred its growth plans to 12-15 months due to the uncertainty caused by a global pandemic, Sharma said. in 2013 with an initial team of three people to make a more significant commitment to the U.S. The Australia-headquartered company opened an office in the U.S. Department of Homeland Security, focused on strengthening data protection across participating agencies, Sharma told TechCrunch. In the last year, one of its significant achievements was making the approved products list for a $2 billion program run by the U.S. The company sells its product to global corporations, Sharma said. "We have spent more than a decade getting the technology right and preparing for commercial adoption," Sharma said. The market for this type of technology was small when QuintessenceLabs started in 2008, and it took time to mature and bring it to a commercial level, he said. QuintessenceLabs uses quantum physics to build data security tools and has developed qStream, a quantum random number generator (QRNG) that provides encryption keys with full entropy, which means they are truly random, Sharma explained. QuintessenceLabs will use the Series B funding to expand its customer base, including private and public organizations in financial services, cloud providers, government agencies and defense sectors globally, CEO and founder of QuintessenceLabs Vikram Sharma told TechCrunch. The latest funding was led by Main Sequence and TELUS Ventures, with participation from Mizuho Financial Group-backed InterValley Ventures and Capital Property Group. ![]()
0 Comments
Leave a Reply. |