PARIS, FRANCE – VeriQloud, a pioneering technology company specializing in quantum network solutions, is thrilled to announce the successful completion of its latest funding round. The company has raised €1.9 million in an investment round led by Quantonation, the leading investment fund in quantum technologies, and joined by WinEquity, a fund focused on innovation, providing capital and mentorship, and placing diversity at the core of its thesis for early-stage investment.

VeriQloud is dedicated to unlocking the power of quantum networks. It has developed the Qline, a quantum communication architecture that can distribute keys between several parties connected on a single optical fiber. With lower hardware requirements, and absence of trusted repeaters, Qline is particularly well-suited to interconnect with large-scale Quantum Key Distribution (QKD) networks and realize the last-mile of key distribution. It can also be deployed at the metropolitan- area scale to secure communication and storage in cloud infrastructures, offering unparalleled security for industries such as finance, telecommunications, and healthcare.

Qline has been deployed by Deutsche Telekom in 2022 on the OpenQKD testbed network in Berlin. VeriQloud is also participating in major projects on quantum networks, such as France QCI (led by Orange), the Quantum Internet Alliance (led by TU Delft), or SecNISQ (led by INRIA). Within these projects, VeriQloud is developing future applications for Qline and quantum networks for secure delegated classical and quantum computing. These applications are based on the implementation of cryptographic primitives that take advantage of quantum communications, with direct applications to confidential computing, secure distributed computing and blind quantum computing.

The recent investment of €1.9 million will enable VeriQloud to accelerate the development of its hardware and software solutions offering the seamless integration of quantum communication for end-users. By addressing the specific challenges faced in the last-mile, VeriQloud aims to unlock new opportunities for businesses and researchers alike, ultimately shaping the future of quantum communications.

Quantonation, recognized the unique technological approach of VeriQloud’s solutions, that have the potential to help adopt quantum networks at scale in Urban Areas.

WinEquity, with its extensive expertise in funding innovative startups, shared the enthusiasm for VeriQloud’s vision. Their investments will not only provide the necessary capital but also access to invaluable industry insights and strategic guidance.

“We are delighted to partner with Quantonation and WinEquity in our mission,” said Marc Kaplan, Founder and CEO of VeriQloud. “This investment not only validates the importance of our work but also empowers us to accelerate the development of our hardware and software applications. With the support of these visionary investment funds, VeriQloud is ready to make significant contributions towards the widespread adoption of quantum networks.”

Olivier Tonneau, partner at Quantonation commented: “We believe that with its original technology, Veriqloud has the potential to be a key player in quantum networks, especially for the last mile, or for secure data storage with quantum technologies.”

VeriQloud’s commitment to advancing quantum network technologies has garnered recognition within the industry and attracted the attention of both investors and potential partners. The company’s innovative solutions and dedicated team have positioned it as a key player in the emerging quantum ecosystem.

For more information about VeriQloud and its groundbreaking work in the field of quantum networks, please visit www.veriqloud.com.

About VeriQloud: VeriQloud is a start-up based in Paris, founded in 2017 developing quantum communication solutions. It has been founded by Marc Kaplan, Elham Kashefi and Josh Nunn. Marc Kaplan has studied quantum effects on cryptography for more than a decade. He graduated from Université Paris-Saclay and worked at Université de Montréal under the supervision of Gilles Brassard, one of the inventors of quantum cryptography. He is currently the CEO of VeriQloud. Elham Kashefi graduated from Imperial College. She is currently research director at CNRS, professor at University of Edinburgh, and CSO of VeriQloud. She has developed several quantum communication protocols, most notably pioneering the field of secure delegated quantum cloud computing. Josh Nunn graduated from University of Oxford, where he also held a Royal Society University Research Fellowship, before becoming a reader at University of Bath. He is specialized in quantum photonics, and also co-founded the startup ORCA computing in the UK. He is currently a scientific advisor at VeriQloud.

About Quantonation Ventures: Quantonation Ventures is the leading VC dedicated to Quantum Technologies, managing €91m via its first vehicle Quantonation 1. Quantonation invests globally, targeting early-stage companies in Quantum Computing, Quantum Communication and Quantum Sensing. Quantonation I has already invested in 24 companies in Quantum Technologies.

About WinEquity: WinEquity believes diversity is a powerful driver of performance. It is investing minority stakes in female-founded, ambitious start-ups in France. Created by a team of entrepreneurs and successful investors, WinEquity provides funding and expertise to fuel the growth and success of promising ventures founded or co-founded by women.