- Quside reports that the company secured a seven-digit Series A investment from a group of leading deep-tech investors.
- Quside is considered a leader in advanced randomness solutions for cryptography and high-performance computation.
- Investors include: Trumpf Ventures, the investment branch of Trumpf, a world-leading industrial manufacturer of photonic components; Bullnet Capital, an experienced deep tech investor in Spain; Demium Capital and TechVisionCapital.
PRESS RELEASE — Quside, a leader in advanced randomness solutions for cryptography and high-performance computation, secures a seven-digit investment from Trumpf Ventures, the investment branch of Trumpf, a world-leading industrial manufacturer of photonic components, and Bullnet Capital, an experienced deep tech investor in Spain. Demium Capital and TechVisionCapital also joined the round. The new investors will support and accelerate the next stage of growth for Quside.
“We are looking forward to teaming up with the Quside team and the excellent network of professionals and advisors that the company has gathered. We believe Quside has a significant competitive advantage. They are the only company offering quantum random number generators that meet the security, speed, size, quality and scalability requirements of their strong base of early customers. With our participation in Quside we intend to help in bridging the gap towards high volume markets by offering expertise and know how in producing photonic components at scale,” says Ulrich Kruse, investment manager at Trumpf Ventures.
Random numbers are foundational in our modern digital society. We use them billions of times a day to protect our data and to make decisions. However, despite the critical role of randomness in our lives, not everyone is dealing with randomness properly. This translates into both security loopholes and compute inefficiencies.
According to Javier Ulecia and Miguel del Cañizo, Founding Partners of Bullnet Capital: “Quside is a company completely in line with our investment criteria: a team with proven experience, patent-protected products and potential to disrupt the way things have been traditionally done; in this case how randomness is generated, monitored and processed thanks to a very strong technology product portfolio and roadmap.”
Over the last 18 months, Quside has been building a strong business pipeline and closed agreements with world-leading specialized security vendors. With the new funding, and with the support of world leading investors and advisors, which will be announced soon, Quside will accelerate its growth. First, in establishing and securing a broader customer base in the initial high-end markets the company is targeting. Second, in scaling up its production capability to enter new, higher-volume markets with the highest quality randomness solutions.
“Over the last few months, there has been a marked change in the market as vendors and organizations look for future-proven and quantum-safe cybersecurity solutions. Our quantum randomness products are fully aligned with this global effort. With the new funding, we will be able to better support our customers as they start to roll out next-generation security products and computing solutions,” says Carlos Abellan, co-founder and CEO.
The company will announce new partners, customers and advisors over the next few weeks. Quside is also planning new product announcements, including a new offering for its high-performance computing customers.
Quside builds quantum technologies for safer connectivity and advanced computation. A spin-off of ICFO – The Institute of Photonic Sciences – in Barcelona, Spain, Quside has a 10+ year heritage in the development and commercialization of quantum random number generation, monitoring and processing technology. Quside is an active member of the European quantum community and the Quantum Industry Consortium (QuIC) as well as a key contributor in a variety of projects for the European Commission (Qrange and Civiq projects for the Quantum Flagship program) and National efforts (Clave, Caramuel, QuSpin). Find out more about Quside at www.quside.com.
About TRUMPF Venture
TRUMPF Venture extends the TRUMPF group’s comprehensive activities to promote innovation and to detect disruptive technologies and business models early on. The corporate venture capital arm invests globally in early-stage start-ups active in areas complementary or adjacent to the TRUMPF core, such as Advanced Photonics and Smart Factory Solutions. Funded start-ups benefit from an extensive network, deep domain knowhow, proven skills in scalability as well as support to access the TRUMPF group and its ecosystem. The requirements for a potential investment are a strategic fit, a high innovation leverage and differentiation in business model or technology, an experienced management team and risk adequate financial returns.
The TRUMPF group is the world technological and market leader for machine tools used in flexible sheet metal processing as well as industrial lasers and achieved sales of 4.2 billion euros in 2020/21. Find out more about TRUMPF Venture at www.trumpf.com/s/venture
About Bullnet Capital
Bullnet Capital is an independent Spanish venture capital firm focused on deep tech companies in the IT sector (software, electronics, semiconductors, photonics etc.). Established in 2002, it manages a total of €150 million under several investment vehicles. To date, Bullnet Capital has invested in 25 early stage Spanish companies, and maintains its investment philosophy of adding value and contributing to the day-to-day operations of portfolio companies, some of which have been successfully sold to big corporations (Ericsson, Samsung, Bruker, Teledyne-e2V, Unity, Activision).