A Bristol company specialising in quantum technology has secured £3.1m in its latest fundraising round.
KETS Quantum Security said it would use the investment to accelerate the development and production of its chip-based hardware, and bring it to market.
The funding round was co-led by Quantonation, an early-stage venture fund dedicated to deep physics start-ups, and Speedinvest, a European venture capital fund with more than 40 investors working from Berlin, London, Munich, Paris, Vienna and San Francisco.
Mustard Seed MAZE, an impact venture capital fund investing in entrepreneurs with sustainable business models, also participated in the round.
KETS’ technology, which was developed over a decade at the University of Bristol, protects data from quantum computer cyber attacks.
According to KETs, its technology will make sure information such as banking data, which most financial services providers are moving to the cloud, is quantum-safe and secure.
It said it would also allow telecommunications providers to “flexibly and securely” control their networks and alert them to…