Bengaluru-based QNu Labs, a quantum cybersecurity startup, has raised Rs 60 crore in a Series A round led by the National Quantum Mission (NQM) with Rs 25 crore, marking the government’s first strategic investment in a private deep tech startup in quantum communications.
The IIT Madras-incubated startup has developed commercially ready indigenous, deep tech solutions for quantum computers.
Once fully developed, these computers could easily break today's encryption methods that secure everything from banking transactions to defence secrets. Anticipating this risk – much like building seatbelts for a future car crash – QNu Labs offers quantum key distribution systems and post-quantum cryptography tools that can secure sensitive data.
The funding round was led by the Department of Science and Technology's NQM with participation from Lucky Investment, Speciale Invest, Tenacity Ventures and Singularity AMC. QNu Labs has raised $20 million in funding so far.
“After successful deployments for the Indian defence forces, we’re seeing growing traction in BFSI (banking, financial services and insurance), telecom and healthcare. We already have four to five enterprise customers and expect major announcements from large banks and telcos soon,” QNu Labs CEO Sunil Gupta told ET.
Gupta said the hesitation around quantum computing is reducing, especially after the US- National Institute of Standards and Technology released the post-quantum cryptography standards in August 2024. He termed it a “turning point” for the industry.
Most global players are either software-only or hardware-only. The startup is one of the few to build a hybrid stack, giving it an edge not just with Indian enterprises but also in other markets.
“There are only two or three serious players globally, and we’ve already won most of the deals against them. We’re one of the very few in the world offering full-stack, commercially ready quantum-safe solutions,” Gupta emphasised.
Vishesh Rajaram, managing partner, Speciale Invest, one of the investors, said, “As one of our earliest investments, we've seen the team build patiently, layer by layer, a quantum security stack that’s truly world-class.”
He added that the round marked a defining milestone, not just for QNu Labs, but for India’s emergence as a serious contender in quantum technologies globally.
QNu Labs will use the capital to scale its commercial operations, expand its research and development footprint and expand global partnerships, the startup said.
The IIT Madras-incubated startup has developed commercially ready indigenous, deep tech solutions for quantum computers.
Once fully developed, these computers could easily break today's encryption methods that secure everything from banking transactions to defence secrets. Anticipating this risk – much like building seatbelts for a future car crash – QNu Labs offers quantum key distribution systems and post-quantum cryptography tools that can secure sensitive data.
The funding round was led by the Department of Science and Technology's NQM with participation from Lucky Investment, Speciale Invest, Tenacity Ventures and Singularity AMC. QNu Labs has raised $20 million in funding so far.
“After successful deployments for the Indian defence forces, we’re seeing growing traction in BFSI (banking, financial services and insurance), telecom and healthcare. We already have four to five enterprise customers and expect major announcements from large banks and telcos soon,” QNu Labs CEO Sunil Gupta told ET.
Gupta said the hesitation around quantum computing is reducing, especially after the US- National Institute of Standards and Technology released the post-quantum cryptography standards in August 2024. He termed it a “turning point” for the industry.
Most global players are either software-only or hardware-only. The startup is one of the few to build a hybrid stack, giving it an edge not just with Indian enterprises but also in other markets.
“There are only two or three serious players globally, and we’ve already won most of the deals against them. We’re one of the very few in the world offering full-stack, commercially ready quantum-safe solutions,” Gupta emphasised.
Vishesh Rajaram, managing partner, Speciale Invest, one of the investors, said, “As one of our earliest investments, we've seen the team build patiently, layer by layer, a quantum security stack that’s truly world-class.”
He added that the round marked a defining milestone, not just for QNu Labs, but for India’s emergence as a serious contender in quantum technologies globally.
QNu Labs will use the capital to scale its commercial operations, expand its research and development footprint and expand global partnerships, the startup said.
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