PQShield secures £14.8m in Series A funding from Addition to accelerate international growth
Addition led the Series A round to support product development, hiring and global expansion.
PQShield is a cybersecurity company that builds quantum-resistant cryptographic solutions for hardware, software, and cloud environments. Based in London, the firm helps secure critical supply chains against future threats.
Cybersecurity business PQShield has secured £14.8m in Series A funding to accelerate product development and international expansion. Addition led the round, with participation coming from existing backers Oxford Science Enterprises and Crane.
The capital arrives as organisations prepare for new global cryptography standards from NIST, designed to counter the growing threat of quantum computing. PQShield plans to deploy the funds to scale its presence across the US and EMEA, enter markets including Japan, and double its headcount by the end of 2022.
From the founder
"As new cryptographic standards are finalised and rolled out, the scale of demand for quantum-ready solutions cannot be understated. From software to hardware, no industry is immune to the quantum threat, and as powerful quantum machines move ever closer, so does the risk of them falling into the wrong hands. This investment will enable us to double down on our growth, continue contributing to leading standards organisations like RISC-V International and NIST, and take another step towards protecting all businesses from this generation-defining security threat."
Ali El Kaafarani
CEO and founder at PQShield
Investor perspective
"Thanks to an industry-leading team, decades of combined experience and a best-in-class product offering, PQShield has quickly emerged as a front runner and true authority in post-quantum cryptography for hardware and software, a field with enormous market potential. PQShield is already helping to define the future of information security, and we are excited to support their ongoing growth."
Lee Fixel
Addition
Use of funds
- 01Continue product development
- 02Grow the team
- 03Expand into international markets
Investors
Categories
About the company
PQShield
PQShield builds quantum-resistant cryptographic solutions for the global technology supply chain.