Technology The cybersecurity and computing startup Quside, a supplier to companies such as...

The cybersecurity and computing startup Quside, a supplier to companies such as Telefonica, culminates a round of more than 10 million euros

The cybersecurity and computing startup Quside, a supplier to companies such as Telefonica, culminates a round of more than 10 million euros

Quside, a spin-off of the Institute of Photonic Sciences (ICFO), which provides advanced randomization solutions for the cybersecurity and high-performance computing markets, has completed a round of funding of more than 10 million euros.

This has been executed in two phases. The first took place last November and allowed him to raise the first 5 million euros. The second, closed this month, has allowed Quside to finally raise a total of just over 10 million and incorporate new investors.

These include the Catalan Institute of Finance (ICF), Trumpf Ventures, Bullnet Capital, Demium Capital and TechVision Capital.

Quside is a quantum technology company that, among many other tools, offers advanced randomness solutions. These allow random response options to be presented to each respondent, which avoids, for example, what is known as order bias, that is, the tendency of all respondents to choose the first option.

In his case, this technology applies above all to the cybersecurity and high-performance computing markets. After consolidating its position in the quantum technology industry, the startup works with companies such as EY, Telefonica, Juniper and Qrypt.

So far, Quside has launched several innovative products such as the QN 100, the fastest quantum entropy semiconductor chip on the market, or the RPU, the world’s first random processing unit.

For now, Quside will use this funding to accelerate the sale and marketing of its quantum random number generation (QRNG) and random processing unit (RPU) product line. acronym in English).

Quside will also allocate part of the capital raised in the round to the incorporation of professional profiles specialized in quantum systems engineering, semiconductor chips, FPGA and software development, as well as commercial profiles. They will join a staff of more than 40 people.

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“We are very proud of the result of this operation and very grateful to the investors for their trust. These resources will allow us to continue working on the development of scalable products with leading-edge features to bring cybersecurity and high-performance computing to the enterprise while facilitating their adoption,” said Carlos Abellan, co-founder and CEO of Quside.

For his part, Emilio Gomez, Investment Director of the Catalan Institute of Finance (ICF), highlighted: “Quside has a top-level team, excellent stakeholders and, with a unique product offering, it has the potential to redefine industry standards.”

The quantum technology market has experienced significant growth in recent months, driven, for example, by the new directives from the government led by Joe Biden in the US and the EuroQCI program in Europe. The market has established itself as a strategic sector at an international level and it is estimated that it will exceed 4.3 billion dollars in 2028.

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