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Qunnect raises $8 mln in funding spherical led by Airbus Ventures

OAKLAND, Calif., Oct 5 (Reuters) – U.S. quantum communications startup Qunnect mentioned on Wednesday it has raised $8 million in a funding spherical led by Airbus Ventures and launched a check venture in New York.

The funds will probably be used to spice up manufacturing and develop a analysis and improvement platform, the corporate mentioned in an announcement.

Quantum communications is a subject of expertise that has the potential to make information transmission sooner and safer and one during which governments in the US, Europe and China have been investing closely.

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Mehdi Namazi, co-founder of Qunnect, mentioned the corporate’s expertise works in ambient temperatures with current telecommunications community infrastructure and doesn’t require the very chilly temperatures usually utilized in different quantum methods.

He mentioned whereas community safety is presently one of many expertise’s important purposes, it might ultimately “have many various entanglement sources and make them discuss to one another to extend the gap past what could be potential in any other case.”

The venture within the Brooklyn Navy Yard, the place Qunnect is headquartered, connects the corporate’s quantum communications {hardware} to 2 ends of current telecommunications fiber optic cables to check the expertise, mentioned Qunnect CEO Noel Goddard.

The expertise will ultimately grow to be accessible for testing by prospects, together with in monetary providers.

Goddard mentioned the U.S. Chips Act has additionally allotted funds to construct a quantum community throughout the US.

Qunnect mentioned the primary technology product is predicted to be accomplished mid-next yr.

Related:  Monitoring enterprise capital knowledge to pinpoint the subsequent US startup sizzling spots – TechCrunch

(This story has been corrected to repair the CEO’s final title to Goddard in paragraph 6)

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Reported By Jane Lanhee Lee; Modifying by Sam Holmes

Our Requirements: The Thomson Reuters Belief Ideas.


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