Crypto Quantique raises $8M to address IoT security

September 25, 2019 // By Julien Happich
IoT security
London-based startup Crypto Quantique has raised an $8 million seed round led by Accelerated Digital Ventures along with participation from Entrepreneur First, amongst others.

The startup claims that using the most advanced techniques in cryptography and quantum physics, a single chip could generate multiple, unique, unforgeable cryptographic keys on-demand to address the growing challenges of end-to-end IoT security. These cryptographic keys would never be stored and would be resistant to most side-channel attacks, while being usable independently by multiple applications on demand.

“Silicon, device, software and solution providers must urgently work together so that device security becomes a foundation rather than an add-on, and end-to-end IoT security is the new normal” said Shahram Mossayebi, CEO and co-founder of Crypto Quantique.

“Crypto Quantique is proud to lead this radical cybersecurity transformation, using the most advanced techniques in cryptography and quantum physics, to enable cloud-like economy, plug and play ease of use, unforgeable device identity that is protected from manufacture to end of life, and the highest levels of foundational security”, the CEO continued.

With the funding, the company aims to grow its software development team to enhance its Key Management Service (KMS) and cryptography. The company’s KMS, a key component in the overall solution is designed to be integrated into any cloud based or on-premise IoT platform facilitating seamless, zero-touch secure device on-boarding for thousands of devices in seconds as well as ongoing device attestation, revocation and secondary identity provisioning capabilities.

This will enable enterprises to achieve full end to end ownership and control of IoT security with a future proof foundation securing, for example, data in transit, device attestation, data at rest, mutual authentication, and device boot.

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