VentureIsrael invests in Israeli startup QuantLR, developer of affordable quantum cryptography solution
An Israeli deep tech fund VentureIsrael participated in QuantLR's investment round alongside equity crowdfunding platform OurCrowd, as well as Jerusalem's early-stage fund and incubator Labs/02. The investments will be used to continue R&D, as well as to begin commercialization of the QuantLR's technology.
QuantLR has developed a secure most cost affordable Quantum Cryptography solution using the principles of quantum physics to protect the world's most sensitive data. QuantLR successfully deployed a proof of concept showing that its Quantum Key Distribution solution is ready for mass deployment at a cost reduction of 90% over all previously deployed solutions.
Roman Gold, Managing General Partner, VentureIsrael: "We are excited on the opportunity to support QuantLR's vision to provide the world with affordable quantum-secured communications solutions. The age of quantum computers is not far in the future, we already live in it, so we should address security challenges today, tomorrow it will be too late."
Shlomi Cohen, CEO, QuantLR: "We are in excellent momentum to present shortly one of the most advanced Quantum Cryptography platforms."
QuantLR is an Israeli based startup. The company's core innovation is proprietary technology required to produce a very cost effective quantum cryptography platform. This expertise comes from world renown quantum physicists from the Hebrew University of Jerusalem.
VentureIsrael is an Israeli early stage deep tech fund. The firm is market agnostics, but strongly believes in its investment focus based on three elements: technology, time to market and people. VentureIsrael focuses on startups from the Seed stage to Series A, with technology solutions expected to be in high demand in the short and medium term. It is dedicated to the technological excellence of the startup and is not afraid of unconventional approach.