As quantum resistant cryptography becomes mandatory in the United States and its implementation is accelerated by the White House, Swiss cybersecurity startup QRCrypto announces the raising of a new convertible loan of USD 500,000. After an initial seed funding of the same amount, this round bridges the gap with the ongoing Series A funding round. The company already has its first customers and is about to close a major contract.
Since its creation in May 2019, Swiss cybersecurity startup QRCrypto (QRC) has raised USD 1.25M. The spin-off of itk.swiss is today actively expanding in the US, a key market given the federal law mandating QRC since December 2022 (Quantum Computing Cybersecurity Preparedness Act).
Contacted by Startupticker.ch, QRC's CEO Stiepan Aurélien Kovac explains that his team has fully developed products that make cryptography quantum-resistant using and, in some cases, setting emerging standards. Ongoing projects relate to securing light communications (“LiFi”) with its tech. The Swiss startup works on making secure messengers, together with partners using its technology.
QRCrypto's European entity leads cryptography standardization with the provision of hosting in Luxembourg for the upcoming SC27 WG2 meeting. The future of cryptography standards is being decided at the global level. QRC America just joined the US SC27 mirror committee, so that the startup will provide experts from both sides of the Atlantic to ensure timely delivery of quantum-resistant cryptography standards, a critical enabler of digital security.
Based at EPFL Innovation Park, QRCrypto has a team of 19 people working at the global level and is in the process of onboarding an internal IPR lawyer to cope with the pace of its innovations.
(ES)
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