Quside Secures Series A Funding From Trumpf Ventures & Bullnet Capital

Quside Secures Series A Funding From Trumpf Ventures &Amp; Bullnet Capital

Quside, a Spanish quantum computing company specializing in quantum random number generation, has raised seven-figure funding in a Series A funding round led by Trumpf Ventures, the investment arm of Trumpf, and Bullnet Capital. Demium Capital and TechVisionCapital also took part in the round. The new investors will support and accelerate Quside’s next stage of growth. 

Random numbers can be used for many things, including creating data encryption keys and selecting random samples from bigger data sets. These applications have varying levels of requirements, which necessitates the use of various approaches. For example, cryptographic applications often have tight requirements, but other applications might use a weaker level of randomness.

While there are several methods for generating “random numbers,” not all are suitable for cryptographic applications. For example, computers cannot generate random numbers since they can only carry out instructions sequentially and are not random.  This results in both security flaws and computational inefficiency. 

One way to introduce randomness to systems is with QRNGs. Quantum random number generators produce unpredictability by monitoring non-deterministic quantum phenomena. Quside’s innovative technology provides high-quality and scalable manufacturing of QRNGs.

They have been creating a solid business pipeline and closing agreements with world-leading specialized security suppliers over the last 18 months. With this funding, Quside will create and secure a larger client base. They will also expand their manufacturing capacity to penetrate new, higher-volume markets with the best quality randomization solutions. 

“We believe Quside has a significant competitive advantage. They are the only company offering quantum random number generators that meet the security, speed, size, quality, and scalability requirements of their strong base of early customers. With our participation in Quside, we intend to help in bridging the gap towards high volume markets by offering expertise and know-how in producing photonic components at scale”

Ulrich Kruse, investment manager at Trumpf Ventures

Over the next few weeks, Quside will announce new partners, customers, and advisors. They also plan to provide new products, including a solution for its high-performance computing clients.