August 17, 2022

PQShield raises $20 million Series A

PQShield raises $20 million Series A

PQShield, a cybersecurity company specializing in post-quantum cryptography, has today announced $20 million in series A funding.

The operation has been led by Addition, the venture firm founded by Lee Fixel, with participation from existing investors Oxford Science Enterprises (formerly OSI) and Crane.

The investment will be used to fuel further product development, hiring and international expansion for PQShield, which has already experienced strong demand for its quantum-ready cryptographic solutions for hardware, software and communications. 

Headquartered in the UK and with teams in the United States, France and the Netherlands, PQShield is pioneering the development and commercial roll-out of advanced, quantum-ready cryptographic solutions for hardware, software and communications. Its products are compatible with existing infrastructure and are ready for companies to deploy now, ensuring exceptional protection against today’s biggest threats as well as future quantum attacks.

PQShield’s post-quantum cryptographic solutions include ready-made and tailored hardware cryptography IPs for low and high-end devices (secure elements, hardware security modules (HSMs), etc.); IoT firmware; Public Key Infrastructure (PKI); server technologies; and advanced end-to-end encrypted messaging platforms.

The company is a leading contributor to the NIST post-quantum standardisation project: two of its algorithms are finalist candidates, and PQShield team members are advising on all other algorithms in development. Members of the PQShield team have also contributed multiple cryptographic extensions to RISC-V, the open standard instruction set architecture (ISA) that is rapidly gaining traction from proprietary competitors such as ARM and Intel.