UK cybersecurity company PQShield raises €34.4M
Summary
It no longer matters when a quantum computer will arrive that can break current cryptography methods: the need for quantum-resistant encryption is here today, as governments and standards agencies push to protect our most sensitive data.” “We’re already getting our technology into the hands of customers across the supply chain, and today’s funding will enable us to deliver real-world, post-quantum hardware and software upgrades to even more organisations as they move to comply with new global standards,” adds El Kaafarani. Founded in 2018 by Ali El Kaafarani, PQShield is a company specialising in post-quantum cryptography (PQC) – encryption designed to be impossible for a quantum computer to crack. Every line of code we write, every mathematical problem we solve, and every interaction we make is focused on one specific goal: keeping us all one step ahead of the attackers,” adds El Kaafarani. The company plays a leading role in the NIST PQC standardisation project and advises prominent organisations such as the White House, European Parliament, UK National Cyber Security Council (NCSC), and World Economic Forum (WEF) on practical challenges. Todd Arfman of Addition says, “As we approach the culmination of the NIST project, we expect newly ratified standards to help drive rapid adoption of PQC across the technology supply chain.