Malicious hacking operations are becoming increasingly sophisticated, leading to a very clear trend in security technology. To keep people and organizations safe, security must also continue to evolve its own complexity.

Start security PQShield I started early on in this concept with a focus on “post-quantum” cryptography: software and hardware solutions that are, in theory, future-proof, able to withstand even hacks that will one day be performed using the most powerful quantum machines.

Now, to meet industry demand to build devices and related systems based on its work, the company is announcing an additional $37 million in funding.

Additionally, investment firm Lee Fixel led this Series B with other strategic and financial backers including Chevron Technology Ventures, Legal & General, Braavos Capital (all new investors) and previous backer Oxford Science Enterprises. The addition also resulted in PQShield Series A in 2022. (We asked but the startup did not disclose the valuation.)

Ali Al-Qaafrani, a mathematics academic from Oxford who founded and leads the startup (which was also founded in Oxford), said the funding will go towards hiring more talent and working more closely with its existing and new clients and partners.

This list includes companies such as AMD, Microchip Technologies, Collins Aerospace, Lattice Semiconductor, Sumitomo Electric, NTT Data, Mirise Technologies (Toyota / Denso R&D), and others not mentioned by PQShield, along with advising the White House and the European Parliament, Council UK National Cyber ​​Security and World Economic Forum. I’ve also worked with the biggest name in chips, and now also in technology in general: Nvidia.

“We still have the highest density of cryptographers in the industry, particularly in post-quantum cryptography,” he said in an interview. In addition, there is an interesting development currently underway regarding standardization that will also impact how this field develops.

The National Institute of Standards and Technology operates in the United States a decade About the idea of ​​creating post-quantum encryption standards. Dr. Al-Qaafrani said that it is now expected to be announced in the coming months. “In just two or three weeks, we highly expect NIST to publish formal standards after publishing drafts last August.”

One thing to watch is the role that companies like PQShield – and others in the same space – play Severa, Post-quantumAnd major companies like Palo Alto Networks and others – address the continued evolution of technology and computing, and how major companies are adopting more sophisticated encryption to protect user data at both the software and hardware layers.

Today, much of the popular talk about encryption revolves around how it can be used to protect messaging platforms. (It’s worth noting that PQShield also provides its technology for free to the Signal Foundation, said Dr. Al-Qafarani, “working with them on various research projects.”) And in the enterprise space, how it’s being used in security systems to both protect data. Within company networks and when it is transferred or shared outside of them.

The next phase of this will likely revolve around how data is handled in AI environments, both in AI applications but also in model training and more. (And of course how to protect data in a world where malicious hackers use artificial intelligence to breach all protections.)

Apple, for example, is taking a new approach to how privacy is handled in AI computing with a new approach it calls Private cloud computingwhich it says enables “private AI processing” by integrating private clouds more tightly with the custom silicon on the device.

“AI will be another reason why we need to make sure our encryption is up to date,” Dr. Al-Qaafrani said. “I think whether it’s Apple or others, you’ll see that they’ll immediately start using post-quantum cryptography for AI because they won’t go through the old cryptography and then they’ll have to change to the new standards.”

With solutions developed in three forms – system-on-a-chip that is designed to be placed on devices such as smart cards or processors; Software via an encryption SDK that can be integrated into mobile and server applications and technologies used to process data or run security operations; and a toolkit targeting telcos specifically designed to secure messaging services – there’s an interesting angle to PQShield that takes it out of the realm of straightforward deep tech and into more marketable tools, which is likely one of the reasons why investors like Addition are interested, especially at a time when computing and chips seem to be evolving. Very quickly.

“PQShield continues its trajectory as a pioneer and leader in post-quantum cryptography for hardware and software. As we approach the culmination of the NIST PQC project, we expect the newly ratified standards to stimulate the quantum security market and drive rapid adoption of PQC across the technology supply chain,” he said. Fixel in a statement. “With an industry-leading team with decades of combined experience, PQShield has created a best-in-class product offering that truly leads the industry. We are excited to see the company build on its existing commercial success and protect our digital future.”

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