Series A8 July 2019

Crypta Labs secures £2.7m Series A investment led by Bloc Ventures

Bloc Ventures leads a £2.7m Series A round alongside debt finance to accelerate quantum security hardware development.

£2.7MSeries A

Crypta Labs develops quantum cybersecurity intellectual property and hardware to protect critical infrastructure. The firm uses light properties to secure communication devices across transport, medical, and aerospace sectors.

Crypta Labs has secured £2.7m in a Series A funding round led by Bloc Ventures, alongside £1m in debt finance from Innovate UK. The capital will be deployed to advance the company,s Quantum Random Number Generation portfolio and commercialise its Quantum-enabled Hardware Security Module.

The firm initially developed its technology for the Ministry of Defence to operate under extreme environmental conditions. Commercial deployments are now underway, including connected automotive infrastructure projects in the Czech Republic.

The injection of capital supports the transition towards single chip quantum security solutions. Bloc Ventures joins the register as the company,s first institutional backer, bringing deep semiconductor expertise to the board.

From the founder

"We are delighted to announce Bloc Ventures as our first institutional investor and look forward to working together during our next stage of growth."

Joe Luong

CEO at Crypta Labs

Investor perspective

"The threat of quantum computing to security is that it enables new areas of mathematics which will significantly weaken, if not make redundant, much of the security in use today. The weakness is the lack of truly random numbers with which to generate strong cryptographic keys. We see Crypta’s QRNG technology as fundamental to securing the data and communications networks of the future. We look forward to working with Joe and the team as Crypta Labs enters its next phase of growth as we accelerate the roadmap towards a single chip QRNG. Bloc is delighted to add Crypta Labs to its investments, and we look forward to collaborating with them to make their dreams a reality."

David Leftley

CTO and Co-founder, Bloc Ventures