QNu Labs raises ₹200 Cr Series A1 for quantum cybersecurity
Quantum cybersecurity startup QNu Labs has raised ₹200 Cr (around $21 Mn) in its Series A1 funding round co-led by the state-backed National Quantum Mission and Speciale Invest, along with participation from Sony Innovation Fund, Gaja Capital and Artha Ventures, among others.
The latest fundraise takes QNu Labs’ total capital raised to ₹375 Cr. Prior to this, QNu Labs raised ₹60 Cr in its Series A funding round.
Founded in 2016 by Sunil Gupta and Srinivasa Rao Aluri, QNu Labs is building cybersecurity products aimed at protecting data and communications against quantum computing-led threats.
It currently offers solutions based on quantum random number generation (QRNG), quantum key distribution (QKD) and post-quantum cryptography (PQC).
The Bengaluru-based startup plans to use the fresh capital across R&D, sales and go-to-market strategy, forging partnerships, internal processes, IT and automation as it moves from a technology development phase into a “proof-of-scale” business.
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QNu Labs has built a new platform, QShield 2.0, focused on the discovery and assessment of cryptographic assets as enterprises begin preparing for quantum-safe migration. It is also working on security solutions for drones and satellites, with its drone security technology already undergoing pilots. Gupta said QNu Labs expects the offering to cater to the defence sector.
Additionally, the fundraise will help QNu Labs meet the matching requirement for its RDI project. After being awarded a ₹150 Cr project under the government’s Research, Development and Innovation (RDI) Fund, QNu Labs was required to raise a matching amount from its side.
The startup has said it has already signed the final term sheet for the project. QNu Labs claims that its quantum-safe VPN is currently its most sought-after product. It has around 180 employees as of now.
“Now the common understanding across the globe is that this tech will become mainstream in the next 2 to 3 years,” Gupta said.
The startup is also strengthening its international expansion, with a presence in Australia and the US and partnerships in other markets.
While it sells hardware and software in India, its international business largely focuses on subscription-based platforms for enterprises across sectors such as banking and healthcare.
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