Toronto, Canada-based Quantum Bridge announced on Wednesday that it has raised $8 million in Series A funding for its quantum-safe key distribution solution.
The new funding, which brings the total raised by the company to $16 million, was supported by Wayra (Telefónica), Cadenza VC, Club degli Investitori angels, HPE, and Bacchus Venture Capital.
Founded in 2019, Quantum Bridge has developed a quantum-safe cybersecurity solution built around its patented Distributed Symmetric Key Establishment (DSKE) protocol, a key distribution technology that automates the creation and distribution of symmetric keys.
DSKE uses pre-shared random data between clients and a group of Security Hubs, with a secret-sharing scheme that ensures no individual Security Hub ever holds the final key, providing protection against both classical and quantum attacks.
The company’s primary product, the Symmetric-Key Distribution System (SDS), packages DSKE alongside post-quantum cryptography (PQC) and quantum key distribution (QKD) into a single crypto-agile platform.
