QNu Labs raises Rs 60 Cr in Series A round led by NQM

QNu Labs, a quantum cybersecurity company incubated at IIT-Madras, has raised Rs 60 crore ($7 million) in a Series A round led by the National Quantum Mission (NQM), a Department of Science and Technology initiative, which contributed Rs 25 crore. 

The round also saw participation from Lucky Investment, Speciale Invest, Tenacity Ventures, and Singularity AMC. 

With this round, QNu Labs has raised a total of $20 million to date.

The proceeds will be used to  support the expansion of QNu Labs’ product offerings and enable further development of its quantum-safe solutions. 

QNu Labs is focused on securing data against future threats posed by quantum computing. As quantum computers advance, it may be able to break existing encryption standards. 

The Bengaluru-based startup claims to have developed quantum key distribution (QKD) systems and post-quantum cryptography (PQC) tools. These technologies are designed to protect sensitive communications in sectors including finance, defence, and critical infrastructure.

QNu competes with a few other Indian startups working in the quantum-safe cybersecurity space including Qulabs, Scytale Alpha, and Qpi.