Sparring capital partners join quantum industries as lead investor in 10mn USD financing round
SPARRING CAPITAL PARTNERS, FINDUS VENTURE and GERMAN ASSET MANAGER KGAL INVEST IN FURTHER GROWTH OF MOST PERFORMANT QUANTUM KEY DISTRIBUTION TECHNOLOGY GLOBALLY AVAILABLE
Vienna, Austria - Vienna-based Quantum Industries develops and manufactures the most performant entangled quantum key distribution (eQKD) technology on the market. Their products are used to make bakebone networks and other critical Infrastructure resilient towards hostile hacker attacks. The company was founded by Dr. Rupert Ursin, Dr. Thomas Scheine and Dr. Felix Tiefenbacher, globally renowned quantum physisists and former core team members of Nobel Laureate Dr. Anton Zeilinger, who was awarded the Nobel Prize in Physics In 2022 for his work on quantum entanglement.
Most performant encryption technology on the market
Quantum Industries create encryption keys through distribution of entangled photon pairs through existing optical fibre cable. These keys cannot be broken by computing power and it is physically impossible to eavesdrop on them, which allows for maximum protection towards hostile parties. The technology of QI has broken several world records, both in transmission distance and bandwidth.
"The substantial performance increase from quantum computing puts traditional and widely adopted mathematical encryption under severe stress. From today's perspective, entangled quantum key distribution is the only encryption technology to provide absolute and continous protection from hostile attacks which makes it the tool of choice for any critical infrastructure", says Dr. Ursin, founder and CEO of Quantum Industries.
Consequently, Quantum Industries has become a key supplier into the European Quantum Communication Infrastructure program (EuroQCI), and is working closely with national and international critical Infrastructure providers.
Major Funding Round led by Sparring Capital Partners
In November 2024, Quantum Industries has closed a major funding round totalling 10mn USD, led by Sparring Capital Partners. Findus Venture, German asset manager KGAL and a group of angel investors have joined this funding round.
"With surging demand in computing power for artificial intelligence and covergent technologies, we see an unprecedented growth in data centers. At the same time, the potential of quantum computing requires new and much higher standards in cybersecurity and encryption. Quantum Industries effectively addresses this emerging need and we are proud to support them", says Michael Steiner, CEO of Sparring Capital Partners who will join the board of QI on behalf of Sparring together with Dr. Wolfgang Bernhard, former Board Member of Mercedes Group and Supervisory Board Member of Andritz AG and AMAG.
"Quantum technology will be a decisive force over the next decades and remains one of few areas of technology in which Europe is globally leading. QI is the perfect example in this context as they achieved to develop and commercialize the most potent quantum key distribution system globally available", says Christian Federspiel of Findus Venture.
About Quantum Industries
Based on more than 35 years of scientific work, Quantum Industries stand as the sole pioneer in the market with their quantum cryptographic solution based on entangled photons, a technology that provides unbreakable security based on the laws of nature. Their record-breaking quantum state generators together with superconducting detectors create extremely high data rates.
About Sparring Capital Partners
Sparring Capital Partners is a Vienna-based private equity firm founded by a group of entrepreneurs to provide capital and expertise to companies with strong growth prospects. The focus is on companies that apply transformative technologies as part of their unique position in the market or need such a position to remain competitive in the long term. Sparring works with Austrian and international family offices in this regard.
About Findus Venture
Findus Venture is a leading Austrian venture capital firm specializing in early-stage investments in technology-driven sectors. Findus Venture partners with ambitious entrepreneurs to provide financial backing, strategic mentorship, and access to a global network of experts, helping startups reach new heights. More information can be found at Findus Venture.
For more information about Quantum Industries, visit: www.quantum-industries.eu