Quside lands funding from Trumpf, others for QRNG efforts
Quside, a firm working in the field of quantum random number generation and which was spun off from the Institute of Photonic Sciences in Barcelona, Spain, has announced a “seven-digit” investment from Germany’s Trumpf Ventures and Spain’s Bullnet Capital.
The Trumpf venture group is the investment branch of the same-named industrial manufacturer of photonic components, while Quside itself was spun off from the Institute of Photonic Sciences in Barcelona, Spain.
The founding announcement comes about one year after Quside received funding from the Catalan government in Spain. Neither that announcement nor today’s announcement offer details about how much money was raised.
Quside said the new funding will allow the company to accelerate its growth in establishing and securing a broader customer base in the initial high-end markets the company is targeting. “With our participation in Quside we intend to help in bridging the gap towards high volume markets by offering expertise and know how in producing photonic components at scale,” noted Ulrich Kruse, investment manager at Trumpf Ventures.
The money also will help Quside scale up its production capability to enter new, higher-volume markets. The company added that over the last 18 months it has forged agreements with several security vendors.
“Over the last few months, there has been a marked change in the market as vendors and organizations look for future-proven and quantum-safe cybersecurity solutions,” said Carlos Abellan, co-founder and CEO of Quside. “Our quantum randomness products are fully aligned with this global effort. With the new funding, we will be able to better support our customers as they start to roll out next-generation security products and computing solutions.”
Quside also said it plans to announce new partners, customers and advisors over the next few weeks.
Quside earlier this year announced a new quantum entropy source chip.
Dan O’Shea has covered telecommunications and related topics including semiconductors, sensors, retail systems, digital payments and quantum computing/technology for over 25 years.
