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QNu Labs Secures $6.5 Million in Funding

QNu Labs

Insider Brief

  • QNu Labs closed a $6.5 million funding Pre-Series A1.
  • The round was led by Ashish Kacholia of Lucky Investments, along with Speciale Invest and a family fund.
  • The startup offers quantum and post-quantum cryptography solutions based on patented technology.

QNu Labs has successfully closed a $6.5 million funding round in its Pre-Series A1, according to a press release and sources in India.

The round was led by Ashish Kacholia of Lucky Investments, along with Speciale Invest and a unnamed family fund. Company officials said that the newly acquired capital will help fuel the company’s growth phase, focusing on enhancing its quantum technology solutions. The Times of India reports the company will specifically use funds to advance R&D, expand its customer base in Europe and the U.S. and building partnerships for satellite-based Quantum Key Distribution technology.

The Bengaluru, India-based company will also use funds to add to their leadership team, expecting strategic hires in roles for senior sales, marketing and engineering.

QNu Labs  was founded seven years ago, and has consistently been ranked a leader in the quantum tech industry, according to the release. The startup offers quantum and post-quantum cryptography solutions based on patented technology used to prevent attacks targeting “critical information infrastructure, communication and personally identifiable information.”

The strategic backing from Speciale Invest is of particular note, sources indicated. Speciale Invest has been a continuing supporter since their initial investment in 2021, which highlights their confidence in QNu Labs’ vision and capabilities.

Reactions

“Extremely happy to announce this round of financing. QNu has proved that it’s possible to build deep tech startups in India. And it also is heartening to see that even in this tough funding market, it’s always possible to raise equity for a good quality business – Srinivasa Rao Aluri, Co-Founder & Chairman

“This new investment is not just a financial boost but a strong vote of confidence in our vision and capabilities at QNu Labs. With these funds, we’re poised to accelerate the completion of our state-of-the-art quantum technology solutions, further enhancing our product suite that’s already leading the market. 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, Co-founder and CEO, QNu Labs.

“As an investor, it’s always exciting to support companies that are at the forefront of technological innovation. Our investment in QNu Labs is a clear indicator of our confidence in their ability to lead and innovate in the rapidly evolving quantum tech landscape. Their commitment to pioneering quantum-safe technologies aligns perfectly with our vision of empowering trailblazers in tech innovation. We’re proud to be part of this journey, investing in a future that promises enhanced security and innovation in the quantum era,” said Ashish Kacholia of Lucky Investment.

“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. This additional investment is more than just capital; it’s a reinforcement of our trust in QNu Labs’ vision to make India self-reliant in quantum technology. By supporting their journey, we are not just fueling a company’s growth; we are contributing to a movement that positions India at the forefront of the global quantum tech landscape,” said Vishesh Rajaram, Managing Partner, Speciale Invest.

 

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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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The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Jake Vikoren

Jake Vikoren

Company Speaker

Deep Prasad

Deep Prasad

Company Speaker

Araceli Venegas

Araceli Venegas

Company Speaker

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