{"id":624888,"date":"2024-06-20T10:00:00","date_gmt":"2024-06-20T07:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/uk-cybersecurity-startup-pqshield-raises-37m-for-post-quantum-cryptography\/"},"modified":"2024-06-20T10:00:00","modified_gmt":"2024-06-20T07:00:00","slug":"uk-cybersecurity-startup-pqshield-raises-37m-for-post-quantum-cryptography","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/uk-cybersecurity-startup-pqshield-raises-37m-for-post-quantum-cryptography\/","title":{"rendered":"#UK cybersecurity startup PQShield raises $37M for post-quantum cryptography"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a42b2be68\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a42b2be68\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/uk-cybersecurity-startup-pqshield-raises-37m-for-post-quantum-cryptography\/#%E2%80%98Where_security_matters\" >\u2018Where security matters\u2019<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/uk-cybersecurity-startup-pqshield-raises-37m-for-post-quantum-cryptography\/#The_elite_of_post-quantum_cryptographers\" >The elite of post-quantum cryptographers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/uk-cybersecurity-startup-pqshield-raises-37m-for-post-quantum-cryptography\/#Risk_mitigation_from_future_threats_to_data\" >Risk mitigation from future threats to data<\/a><\/li><\/ul><\/nav><\/div>\n<div id=\"article-main-content\">\n                            <span style=\"font-weight: 400;\">Leading post-quantum cryptography (PQC) startup PQShield today announced a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">Series<\/a> B raise of $37mn. This comes as organisations and businesses hasten to get \u201cquantum-ready,\u201d ahead of the first PQC standards being released in a few weeks time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While today\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thequantuminsider.com\/2023\/03\/13\/what-is-nisq-quantum-computing\/\">NISQ era<\/a> quantum computers are not a danger to traditional means of encryption, future machines have been identified by among others the NSA as a <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/media.defense.gov\/2023\/Aug\/21\/2003284212\/-1\/-1\/0\/CSI-QUANTUM-READINESS.PDF\"><span style=\"font-weight: 400;\">threat to cybersecurity<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once they become powerful enough, quantum computers could break most cryptographic schemes. Hence the need for post-quantum cryptography.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">PQC aims to develop new cryptographic systems that will remain secure even from cyber attacks performed by a quantum computer.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%98Where_security_matters\"><\/span>\u2018Where security matters\u2019<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"inarticle-wrapper latest channel-cta hs-embed-tnw\">\n<div id=\"hs-embed-tnw\" class=\"channel-cta-wrapper\">\n<div class=\"channel-cta-img\"><img decoding=\"async\" class=\"js-lazy\" src=\"https:\/\/s3.amazonaws.com\/events.tnw\/hardfork-2018\/uploads\/visuals\/tnw-newsletter.png\"\/><\/div>\n<p><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/events.tnw\/hardfork-2018\/uploads\/visuals\/tnw-newsletter.png\"\/><\/p>\n<div class=\"channel-cta-input\">\n<p class=\"channel-cta-title\">The &lt;3 of EU tech<\/p>\n<p class=\"channel-cta-tagline\">The latest rumblings from the EU tech scene, a story from our wise ol&#8217; founder Boris, and some questionable AI art. It&#8217;s free, every week, in your inbox. Sign up now!<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><span style=\"font-weight: 400;\">Those who are already keen on upgrading to PQC capabilities are those industries \u201cwhere security matters,\u201d Dr Ali El Kaafarani, PQShield\u2019s founder and CEO, told TNW. \u201cWhere you have sensitive data, sensitive communication, and sensitive devices.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Equally, El Kaafarani said, it is those who have products with a long life spans,\u00a0ones currently being designed and that will stay in the market for 15 or 25 years. For instance, the semiconductor industry.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThey embed our hardware design IP in the chip, so that the chip is equipped to do post-quantum cryptography,\u201d El Kaafarani said, adding that those who sit high up in the supply chain have already started the process.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">PQShield provides both hardware and software solutions (along with some at times \u201cnecessary close work\u201d with customers to help them understand the problem).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the list of companies PQShield is working with are the likes of AMD, Microchip Technologies, Collins Aerospace, Lattice Semiconductor, and Sumitomo Electric, just to name a few.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One reason for the uptick in demand for PQC is that the US National Institute of Standards &amp; <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> (NIST) is about to ratify its post-quantum cryptography standards next month. \u201cAll other standardisation bodies were still waiting for this in order to publish guidelines and say to their specific sectors: \u2018Now we can start adopting post-quantum cryptography\u2019,\u201d El Kaafarani said.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What\u2019s more, the US government is mandating that all of its contractors for national security systems adhere to these standards by 2030, further mobilising commercial incentive.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_elite_of_post-quantum_cryptographers\"><\/span><strong>The elite of post-quantum cryptographers<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Finding talent in cryptography is hard. Finding talent in PQC is even harder. And yet, PQShield has managed to attract 45 of the emerging field\u2019s top names \u2014 the largest number in the industry gathered in one place.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cEven if you look at the wider cryptography community, it\u2019s not a huge community. We basically know each other by name,\u201d El Kaafarani said. \u201cBut the very first batch of cryptographers we hired were really some of the top talents in the world and they then end up attracting others \u2014 once you create the right environment for talents, they will just attract each other.\u201d<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risk_mitigation_from_future_threats_to_data\"><\/span><strong>Risk mitigation from future threats to data<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The funding round was led by VC firm Addition, with participation from new investors Chevron Technology Ventures, Legal &amp; <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a>, and Braavos Capital, together with existing backers, Oxford <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/sciencee\/\" data-internallinksmanager029f6b8e52c=\"5\" title=\"Science\" target=\"_blank\" rel=\"noopener\">Science<\/a> Enterprises.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Like for many deep tech companies, getting investors onboard with something labelled \u201cpost-quantum\u201d has not been the most straightforward process. Identifying the right investors, and communicating why there is a need to protect, despite the absence of what needs protecting against, has been key in PQShield\u2019s funding journey.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe\u2019re not solving a problem that does not exist yet, we\u2019re mitigating a risk. Our problem is not the quantum computer itself. Our problem is the risk that comes with a quantum computer,\u201d El Kaafarani said.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Founded in 2018, the company currently employs 70 people across 10 countries. PQShield will use the money to fuel innovation, but also to strengthen its commercial team. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cPerfect security does not exist. We wish it did, but it doesn\u2019t,\u201d El Kafaraani says. \u201cAnd therefore we have to keep innovating and coming up with solutions to all problems that we\u2019re facing in the cybersecurity field.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe care about our own data \u2014 I care about my data, my personal data, my family\u2019s data, my kids\u2019 data,\u201d El Kaafarani added, highlighting PQShield\u2019s mission to make the world a more secure place. This is something we should all take better care of, now as well as in the post-quantum era.\u00a0<\/span>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN63nwsw68G3Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thenextweb.com\/news\/uk-cybersecurity-startup-pqshield-raises-37m-for-post-quantum-cryptography\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leading post-quantum cryptography (PQC) startup PQShield today announced a Series B raise of $37mn. This comes as organisations and businesses hasten to get \u201cquantum-ready,\u201d ahead of the first PQC standards being released in a few weeks time.\u00a0 While today\u2019s NISQ era quantum computers are not a danger to traditional means of encryption, future machines have&#8230;<\/p>\n","protected":false},"author":1,"featured_media":624889,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/tnw-blurple?filter_last=1&fit=1280%2C640&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F06%2Fquantum-computer-e1718827535583.jpg&signature=e8841e3079ceeb5882a5625a1cf81589","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-624888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/624888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=624888"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/624888\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/624889"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=624888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=624888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=624888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}