quintessencelabs 25m main sequence venturesparktechcrunch

#QUINTESSENCELABS 25M MAIN SEQUENCE VENTURESPARKTECHCRUNCH GENERATOR#
#QUINTESSENCELABS 25M MAIN SEQUENCE VENTURESPARKTECHCRUNCH SERIES#

“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 parallel, QuintessenceLabs is developing partnerships in Japan and India, Sharma noted. that is also an ideal location for its EMEA headquarters, Sharma said, adding that it is in discussions with several U.K. In the first half of next year, QuintessenceLabs plans to set up an office in the U.K.

is the second-largest cybersecurity market and somewhat similar to Australia in terms of market dynamics, legal systems and business culture, according to Sharma. over the next two to three years, Sharma said. is by far the largest cybersecurity market, QuintessenceLabs will continue to grow its team in the U.S. in 2013 with an initial team of three people to make a more significant commitment to the U.S.Īs 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 25M MAIN SEQUENCE VENTURESPARKTECHCRUNCH GENERATOR#

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 25M MAIN SEQUENCE VENTURESPARKTECHCRUNCH SERIES#

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.

Quintessencelabs 25m main sequence venturesparktechcrunch