PQShield's focus is on creating software and hardware solutions that are future-proofed against potential quantum machine hacks. The company offers solutions in three formats: a system on a chip for hardware like smartcards or processors; a cryptographic SDK for integration into mobile and server apps; and a toolkit for communications companies to secure messaging services. The company is also working with the National Institute of Standards and Technology in the U.S. on establishing post-quantum cryptographic standards, expected to be announced in the coming months.
Key takeaways:
- PQShield, a security startup focusing on post-quantum cryptography, has raised an additional $37 million in funding to meet industry demand for its hardware and related systems.
- The funding round was led by Addition, Lee Fixel’s investment firm, with participation from Chevron Technology Ventures, Legal & General, Braavos Capital, and previous backer Oxford Science Enterprises.
- The company plans to use the funding to hire more talent and work more closely with its current and new customers and partners, which include AMD, Microchip Technologies, Collins Aerospace, and Nvidia, among others.
- PQShield is also anticipating the announcement of post-quantum cryptographic standards by the National Institute of Standards and Technology in the U.S., which could impact the evolution of the field and the adoption of more sophisticated encryption methods.