QuintessenceLabs Receives a $25 Million AUD ($18.75M USD) Series B Round

QuintessenceLabs, a Canberra, Australia supplier of quantum cybersecurity solutions including quantum random number generators (QRNG) and quantum key distribution devices (QKD), has received $25 Million in a Series B funding round. The round was led by Main Sequence and TELUS Ventures with additional participation from Mizuho Financial Group-backed InterValley Ventures and Terry Snow’s Capital Property Group. The company is a spin-off from the Australian National University in Canberra and had previously received funding of $3.26 million AUD ($2.45M USD) and followed by an additional funding of $528 thousand ($396K USD) from the Australian Department of Defence. Among other uses, the company will be using these funds to scale up its sales and marketing efforts and will expand its teams in the U.S. and later on the U.K., Japan and India. Additional information about QuintessenceLabs and the funding can be found in a press release provided by them that's available here.

October 27, 2021