SpeQtral Announces $1.9M Seed Funding to Power the Next Generation of Secure Communications

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    SINGAPORE & NEW YORK–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/QKD?src=hash” target=”_blank”gt;#QKDlt;/agt;–SpeQtral was formally announced today with initial funding led by Space
    Capital.

    Formerly known as S15 Space Systems, SpeQtral is building space-based
    quantum communication systems rooted in advanced technologies developed
    at the world-renowned Centre for Quantum Technologies (CQT), a Research
    Centre of Excellence hosted by the National University of Singapore
    (NUS). This quantum technology offers unprecedented security from
    eavesdropping and will enable the next generation of secure
    communication networks. SpeQtral has licensed from NUS the IP and
    knowhow necessary to develop compact quantum light sources, and has also
    hired former CQT researchers to its team.

    SpeQtral’s $1.9 million seed round was led by Space Capital, the venture
    fund of Space Angels, the world’s leading space investors. Space Angels
    also participated in the round, as did Shasta Ventures, Golden Gate
    Ventures and SGInnovate.

    “It is a great honor to have Space Capital lead our investment round,”
    said Chune Yang Lum, co-founder and CEO of SpeQtral. “Their vision and
    support from Shasta, Golden Gate Ventures, and SGInnovate will be
    immensely valuable as we bring our quantum technology to the world.”

    “SpeQtral is a fantastic addition to our portfolio,” said Chad Anderson,
    CEO of Space Angels and Managing Partner of Space Capital. “Their
    technology has the capability to transform space-based communications
    and we are excited to help them realize that potential.”

    “I admire the SpeQtral team’s vision in launching a business for
    space-based quantum communication. It is a pleasure to see colleagues
    take this step to build from decades of research towards a global
    commercial network,” says Artur Ekert, Director of CQT and co-inventor
    of quantum cryptography.

    “Quantum technology is an exciting frontier with limitless potential,”
    said Steve Leonard, Founding CEO, SGInnovate. “The scientists behind the
    formation of SpeQtral have done years of research in quantum
    communication, and are now turning that research into a commercial
    technology. We are thrilled to come in at an early part of their
    journey.”

    The round, which was oversubscribed, will give SpeQtral the capital
    necessary to kick off a commercially-focused space-to-ground cubesat
    quantum communication demonstration mission, expand the team and open
    offices in Singapore and the United States, and develop further advances
    in quantum communication technology.

    About SpeQtral

    SpeQtral is developing space-based, quantum communication built on
    technologies developed at the Centre for Quantum Technologies (CQT) at
    the National University of Singapore. The team has developed
    technologies that harness the unique properties of quantum physics to
    enable encryption methods that can secure communications with forward
    security. SpeQtral is the only team with heritage from a successful
    on-orbit demonstration of a quantum light source on a cubesat, and is
    committed to bringing future-proof security to the commercial world.
    Learn more at www.speqtral.space.

    About Space Capital

    Space Capital is a $25 million seed-stage venture capital fund led by
    the world’s leading space investor and operator. We invest in the final
    frontier of technology and growth and partner with pioneering founders
    to solve the hardest problems on Earth and beyond.

    About Centre for Quantum Technologies

    The Centre for Quantum Technologies (CQT) is a national Research Centre
    of Excellence in Singapore. It brings together physicists, computer
    scientists and engineers to do basic research on quantum physics and to
    build devices based on quantum phenomena. Experts in this new discipline
    of quantum technologies are applying their discoveries in computing,
    communications and sensing. The Centre was established in December 2007
    with support from Singapore’s National Research Foundation and Ministry
    of Education. CQT is hosted by the National University of Singapore and
    also has staff at Nanyang Technological University. Learn more at www.quantumlah.org.

    Contacts

    SpeQtral
    Mr. Chune Yang Lum
    [email protected]
    @SpeQtral_Space

    Space
    Capital

    Chad Anderson
    [email protected]
    @SpaceAngels