EvolutionQ receives $7 million in funding

Monday, June 20, 2022

EvolutionQ, founded by Norbert Lütkenhaus, Executive Director of the Institute for Quantum Computing, and IQC faculty member Michele Mosca, has secured $7 million in funding for quantum-safe cybersecurity. EvolutionQ is looking to help organizations prepare themselves for quantum computers. Their Series A financing is led by Quantonation, a Paris-based, quantum technology-focused VC fund, with support from Toronto’s The Group Ventures, to “scale up” its quantum-safe cybersecurity tech.

While the current cybersecurity infrastructure rooted in cryptographic puzzles are a challenge for traditional computers to solve, with quantum computers on the horizon, the need for more advanced quantum-safe cybersecurity is imminent.

The recent advancements related to quantum computers have led to a growing need for organizations to migrate to quantum-safe cryptography. With the future in mind, organizations should be looking to future-proof their systems to ensure they are prepared for threat posed by quantum computers.

Read more: University of Waterloo quantum expert-led evolutionQ aims to help orgs "prepare for the quantum age"