PQShield, an Oxford-based cybersecurity company, has secured £29m ($37m) in Series B funding to develop quantum-proof cryptographic tools. Established in 2018, PQShield specializes in creating post-quantum cryptography (PQC) solutions to protect against the computational power of quantum computers. The funding round was led by VC firm Addition, with participants including Chevron Technology Ventures, Legal and General, Braavos Capital, and Oxford Science Enterprises. PQShield’s technology aims to provide quantum-safe solutions across hardware, software, and the cloud. The company advises businesses and government bodies on transitioning to quantum security and has collaborated with significant global organizations. The CEO, Ali Kaafarani, emphasized the urgency of developing quantum-resistant encryption, given the increasing need to protect sensitive data. This funding allows PQShield to further its mission by delivering advanced post-quantum hardware and software upgrades globally.

Cybersecurity, Quantum Computing, Venture Capital,United Kingdom, Global

PQShield: Startup developing quantum-proof cybersecurity raises £29m