Quantum security start-up raises over £2 million in investment
Press release issued: 11 December 2018
A University of Bristol start-up business specialising in quantum encryption has received over £2 million in investment funding from several corporations and Government initiatives.
KETS Quantum Security specialises in developing a range of future-proof, cost-effective technologies for quantum-secured communications that have the power to improve the secure transmission of information such as banking details and medical records.
The £2 million funding round included investments from early stage venture fund, Quantonation together with Kx and others and also included £1million provided from Innovate UK and the Industrial Strategy Challenge Fund.
Quantum computers, such as those being developed by IBM, Microsoft & Google promise to create a new generation of supercomputers with computing power that poses a critical threat to current cyber security encryption.
To counter this threat, KETS have developed one of the world’s first integrated quantum secured encryption technologies capable of protecting against this vulnerability at scale.
This new suite of secure communications systems has proven robust against both conventional and quantum threats, and the KETS team aims to use these systems to boost security in defence, telecoms and critical infrastructure, with end-users in finance, governments and data centres.
KETS’ CEO and co-founder, Chris Erven said: “Our aim is to become the digital security OS of the future protecting our digital information and critical infrastructure in the 21st century and beyond.”
KETS has seen uptake by major defence and telecommunications primes eager to protect themselves against the threat of quantum computers. These new funds will enable KETS to accelerate its growth and undertake trials in the aerospace and telecommunications sectors.
CEO of Quantonation, Christophe Jurczak added: “After years of ground-breaking research, now is the time for the unique properties of quantum physics to be harnessed and exploited.”
“Quantonation is delighted to be working with the KETS team and supporting them in bringing this technology to market and addressing some of the most challenging problems that will face us in the coming years.”
The start-up was formed in the University of Bristol's Quantum Engineering Technology Labs by Drs Philip Sibson, Jake Kennard and Chris Erven in 2016 after winning the Bristol SETSquared New Enterprise Award in 2015.
KETS' funding announcement comes at a key time in the UK's National Quantum Technology programme with the Chancellor, Philip Hammond, announcing a government investment of £235M in the Autumn Budget to support the continued development and commercialisation of quantum technologies to keep the UK at the forefront of this emerging industry.
Dr Erven added: “KETS is proud to be one of the first start-ups emerging from the National QT programme. This funding will allow us to build on the UK’s investment and deliver first products to our early partners and customers.”
Professor Nishan Canagarajah, Pro Vice-Chancellor of the University of Bristol, said: "Quantum information and its translation into technologies is a strategic research priority for the University and is recognised as a Specialist Research Institute.
“The University has successfully created new businesses by taking ground-breaking science out of the lab to be used in real-world applications. KETS is a leading example of how well the system of innovation in Bristol is working.”
KETS Quantum Security Ltd is a multi-award winning start-up from the Quantum Engineering Technology Labs (QETLabs) at the University of Bristol and partner in the Quantum Communications Hub, part of the National UK Quantum Technologies Programme. Their mission is to secure communications using future-proof, scalable, and easily-deployed hardware solutions. The company has developed some of the world’s first integrated quantum secured encryption technologies – from quantum random number generators to full quantum key distribution devices. With low-SWaP built into its DNA, its solutions will boost security in applications including defense, telecoms, and critical infrastructure; with end-users from finance to governments and data centres. For more information about KETS Quantum Security, please visit www.kets-quantum.com. To contact the company please contact firstname.lastname@example.org
Kx is a division of FD, a global technology provider with 20 years of experience working with some of the world’s largest finance, technology, retail, pharma, manufacturing and energy institutions. Kx technology, incorporating the kdb+ time-series database, is a leader in high-performance, in-memory computing, streaming analytics and operational intelligence. Kx delivers the best possible performance and flexibility for high-volume, data-intensive analytics and applications across multiple industries. The Group operates from 14 offices across Europe, North America and Asia Pacific, including its headquarters in Newry, and employs more than 2,300 people worldwide. For more information about Kx please visit www.kx.com. For general enquiries, contact email@example.com and for press enquiries, email firstname.lastname@example.org.
Quantonation is an Early Stage Venture Fund dedicated to Deep Physics startups with a focus on the emerging and disruptive fields of Quantum Communications, Computing and Sensing. Quantonation is managed by Audacia, leading French-regulated private equity investment firm. Quantonation invests worldwide out of Paris and works closely with the startups it invests in, leveraging its partners expertise and network to their benefit. For more information about Quantonation please visit www.quantonation.com.
About Bristol's Quantum Engineering Technology Labs
QETLabs aims to take quantum science discoveries out of the labs and engineer them into technologies for the benefit of society. It brings together £50 million of activity at the University of Bristol covering theoretical quantum physics through experiment, engineering, skills training and enterprise. Read more on the website.