Tuesday, April 23, 2024
Outlook India
Outlook Business

QNu Labs Secures $6.5 Million Investment, Aims for Global Quantum Technology Dominance

QNu Labs said that the latest funding will fast-track its product enhancements and market delivery

QNu Labs Secures $6.5 Million Investment, Aims for Global Quantum Technology Dominance
Srinivas Rao Aluri, Co-founder, QNu Labs
POSTED ON December 14, 2023 4:48 PM

Cybersecurity technology company, QNu Labs has announced the successful closure of $6.5 million in its Pre-Series A1 funding round. This significant investment, led by Ashish Kacholia of Lucky Investments, with Speciale Invest, and a well-known family fund, represents a crucial step in the company's path to global quantum technology leadership.   

This capital infusion will also bolster QNu Labs' leadership team, with strategic hires in senior sales, marketing, and engineering roles. Furthermore, it will accelerate the deployment of their solutions, in line with the increasing demand from customers. 

The company mentioned in its statement that with this funding, it also plans to expand its services into new markets. Currently, it operates in several countries, including India.  

"Extremely happy to announce this round of financing. QNu has proved that it's possible to build deep tech start-ups in India. And it also is heartening to see that even in this tough funding market, it's always possible to raise equity for a good quality business, said Srinivas Rao Aluri, co-founder of QNu Labs.  

QNu Labs was founded and incubated in 2016 at IIT, Madras Research Park by a bunch of deep tech enthusiasts with the vision of building a globally recognised deep tech start-up from India in the quantum-safe cybersecurity space. 

  • Related Articles

    The partnership will enable e-commerce sellers to share precise what3words addresses, unlocking faster, error-free, last-mile deliveries across complex urban and remote terrain

    iThink Logistics Integrates what3words for Precise Delivery Solutions

    The centers will use health-tech, and options of hybrid care to provide high quality and affordable healthcare in small towns

    OYO Founder Ritesh Agarwal Opens Five Health Centres For Underprivileged In Odisha

    Vishwanath Nair has led sales growth for clients and partners within Edtech, Banking, Insurance, and Real Estate sectors

    Vishwanath Nair Joins upGrad Abroad As VP Revenue