Quantum-safe cybersecurity technology firm QNu Labs has raised $6.5 Mn in its pre-Series A1 funding round led by Ashish Kacholia of Lucky Investments.
The round also saw participation from investment fund Speciale Invest and a well-known family fund.
Founded and incubated in 2016 at IIT Madras Research Park, QNu Labs offers quantum and post-quantum cryptography solutions based on patented technology that claims to offer confidentiality and privacy against new-age attacks targeting critical information infrastructure, communication, and personally identifiable information.
While quantum computers can solve problems that classical computers cannot, they also pose a threat to classical encryption methods and infrastructure security. Quantum-safe cryptography secures sensitive data, access, and communications in the age of quantum computing.
QNu’s products and solutions claim to offer unconditional and forward security of data on the internet, cloud and edge. The startup claims to have developed technology that holds multiple patents and has demonstrated India’s first commercially ready quantum-safe security products and solutions. QNu has partnered with the likes of Airtel, Bharat Electronics, IN-SPACe, and several other marquee names in India and globally.
The latest round of funding is primarily aimed at bolstering its growth phase, QNu said in a statement, hinting at global expansion plans and more leadership hirings.
“Having already established a robust presence in the Indian market and making inroads into several other countries, QNu Labs is on a mission to complete and refine its existing quantum technology solutions,” it said.
This capital infusion will also help QNu Labs strengthen its leadership team, with new hires in senior sales, marketing, and engineering roles, the startup said.
“Our goal is to solidify India’s position as a hub of quantum technological excellence and to emerge as a key player on the global stage, pushing the boundaries of what’s possible in quantum-safe cybersecurity,” said Sunil Gupta, cofounder and CEO of QNu.
QNu said this strategic investment by a private investor in an Indian quantum technology startup is the largest so far.
“At Speciale Invest, we are deeply committed to nurturing technological advancements that have a profound impact, not just locally but globally. Our initial investment in QNu Labs back in 2021 was driven by our belief in their potential to revolutionize the quantum technology sector. Seeing them now, achieving the milestone of market entry only reinforces our conviction,” said Vishesh Rajaram, managing partner at Speciale Invest.
Rajaram said that its additional investment in QNu comes with the intention to contribute to making India a major player in the global quantum tech landscape.
It must be noted that the Union Cabinet approved the National Quantum Mission (NQM) in April this year at a total cost of INR 6,003.65 Cr from 2023-24 to 2030-31 with an aim to seed, nurture and scale up scientific and industrial R&D and create an innovative ecosystem in quantum technology.
QNu competes with a few other Indian startups working in the quantum-safe cybersecurity space including Qulabs, Scytale Alpha, and Qpi.
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