VeriQloud Secures €1.9 Million Investment From Quantonation And WinEquity to Unlock The Power of Quantum Networks

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Inside Brief

  • VeriQloud, a company specializing in quantum network solutions, announced the successful completion of €1.9 million funding round.
  • Quantonation led the investment round and was joined by WinEquity.
  • VeriQloud developed the Qline, a quantum communication architecture that can distribute keys between several parties connected on a single optical fiber.

PRESS RELEASE — VeriQloud, a pioneering technology company specializing in quantum network solutions, announced the successful completion of its latest funding round. The company has raised €1.9 million in an investment round led by Quantonation, the leading investment fund in quantum technologies, and joined by WinEquity, a fund focused on innovation, providing capital and mentorship, and placing diversity at the core of its thesis for early-stage investment.

VeriQloud is dedicated to unlocking the power of quantum networks. It has developed the Qline, a quantum communication architecture that can distribute keys between several parties connected on a single optical fiber. With lower hardware requirements, and absence of trusted repeaters, Qline is particularly well-suited to interconnect with large-scale Quantum Key Distribution (QKD) networks and realize the last-mile of key distribution. It can also be deployed at the metropolitan- area scale to secure communication and storage in cloud infrastructures, offering unparalleled security for industries such as finance, telecommunications, and healthcare.

Qline has been deployed by Deutsche Telekom in 2022 on the OpenQKD testbed network in Berlin. VeriQloud is also participating in major projects on quantum networks, such as France QCI (led by Orange), the Quantum Internet Alliance (led by TU Delft), or SecNISQ (led by INRIA). Within these projects, VeriQloud is developing future applications for Qline and quantum networks for secure delegated classical and quantum computing. These applications are based on the implementation of cryptographic primitives that take advantage of quantum communications, with direct applications to confidential computing, secure distributed computing and blind quantum computing.

The recent investment of €1.9 million will enable VeriQloud to accelerate the development of its hardware and software solutions offering the seamless integration of quantum communication for end-users. By addressing the specific challenges faced in the last-mile, VeriQloud aims to unlock new opportunities for businesses and researchers alike, ultimately shaping the future of quantum communications.

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Quantonation, recognized the unique technological approach of VeriQloud’s solutions, that have the potential to help adopt quantum networks at scale in Urban Areas.

WinEquity, with its extensive expertise in funding innovative startups, shared the enthusiasm for VeriQloud’s vision. Their investments will not only provide the necessary capital but also access to invaluable industry insights and strategic guidance.

“We are delighted to partner with Quantonation and WinEquity in our mission,” said Marc Kaplan, Founder and CEO of VeriQloud. “This investment not only validates the importance of our work but also empowers us to accelerate the development of our hardware and software applications. With the support of these visionary investment funds, VeriQloud is ready to make significant contributions towards the widespread adoption of quantum networks.”

Olivier Tonneau, partner at Quantonation commented: “We believe that with its original technology, Veriqloud has the potential to be a key player in quantum networks, especially for the last mile, or for secure data storage with quantum technologies.”

VeriQloud’s commitment to advancing quantum network technologies has garnered recognition within the industry and attracted the attention of both investors and potential partners. The company’s innovative solutions and dedicated team have positioned it as a key player in the emerging quantum ecosystem.

For more information about VeriQloud and its groundbreaking work in the field of quantum networks, please visit www.veriqloud.com.

For more market insights, check out our latest quantum computing news here.

Matt Swayne

With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. [email protected]

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