pQCee has raised $3.9 million in seed funding to expand its quantum-safe cybersecurity technology internationally. SGInnovate and Lotus One Investment co-led the round. In Group Holdings, Wavemaker Ventures, SUTD Venture Holdings and Apsara Investments also participated. The financing represents pQCee’s second institutional funding round.
The Singapore-based company previously raised $2.8 million in 2022. That round was co-led by Wavemaker Ventures and SEEDS, an arm of SG Growth Capital, with participation from SGInnovate, Mirana Capital, Paragon Capital Management and Apsara Investments.
pQCee plans to use the new capital to grow its team in Singapore and expand across Asia. The company is also preparing to enter the United States, Europe and the Middle East.
The company develops cybersecurity tools intended to protect data and communications against future attacks involving quantum computers. Powerful quantum systems could eventually break some encryption methods currently used to secure sensitive information.
One threat is known as harvest-now-decrypt-later. In this scenario, attackers collect encrypted data today and store it until sufficiently capable quantum computers become available to decrypt it.
pQCee’s SafeQuard platform provides end-to-end encryption intended to reduce exposure to this risk. Its customers include critical infrastructure providers, government agencies and financial institutions.
The company also offers QKDLite, middleware used to manage cryptographic keys and connect quantum key distribution systems with enterprise applications. The product is designed to support standards including PKCS#11, ETSI QKD 014 and FIPS 203.
FIPS 203 is a post-quantum cryptography standard covering algorithms designed to resist attacks from conventional and quantum computers. Crypto-agile systems allow organizations to replace or update cryptographic methods as standards and security requirements evolve.
pQCee’s portfolio also includes inoQulate for post-quantum public key infrastructure certificates. Its QuICScript tool allows users to access a 20-qubit quantum simulator through a web browser.
The company has developed additional capabilities for digital asset ownership assurance and quantum-safe Web3 applications. Its objective is to provide an interoperable platform that simplifies the transition from existing encryption systems to quantum-resistant alternatives.
pQCee has established partnerships with Thales and Feitian to integrate its software with hardware security modules and secure devices. It also works with Netrust, SendQuick, PQShield, Microsoft and TechCreate across digital identity, messaging, cryptographic standards and enterprise deployments.
The company expects demand to increase as governments and regulated industries establish deadlines for migrating critical systems to post-quantum cryptography. Actual adoption timelines will depend on regulatory requirements, technology readiness and customers’ ability to replace existing infrastructure.
KEY QUOTES:
“This funding enables us to accelerate our mission of making quantum-safe security easy to deploy and hard to break. As global regulations tighten and the threat landscape evolves, organisations need practical, interoperable solutions they can adopt today.”
“We are grateful for the trust of our investors and partners as we scale our team and expand globally.”
Dr. Teik Guan Tan, CEO of pQCee
“As Q-day rapidly approaches due to advances not just in quantum but also in AI and materials, companies and governments are becoming more aware of the threat this poses to existing systems.”
“We see pQCee playing a role in providing a solution to this problem, and are delighted to continue supporting Dr Tan and his team as they scale their solution to the global stage. Dr Tan is of course no stranger to us. We were investors in his first cybersecurity startup, and investing in his second venture was an obvious thing to do for us.”
Hsien-Hui Tong, Executive Director of Investments at SGInnovate
“The best infrastructure companies solve problems before the market fully recognizes them. Quantum-safe security is one of those rare opportunities.”
“By the time quantum risk becomes everyone’s priority, the category leaders will already be built. We look forward to supporting their expansion into new markets.”
Nirmal Singh, Chairman of Lotus One Investment
“Today’s encryption methods will no longer be secure in a post-quantum era, making investment in quantum-safe solutions a necessity, not an option.”
“pQCee’s holistic suite of solutions simplifies post-quantum cryptography migration for enterprises, reducing complexity in integration, procurement, and cost. As regulations globally mandate critical systems to complete PQC migration by as early as 2030, we believe pQCee, backed by its founding team’s expertise, is well-positioned to capture early demand.”
Paul Santos, Co-Founder and Managing Partner of Wavemaker Partners
