SINGAPORE & NEW YORK--(BUSINESS WIRE)--SpeQtral was formally announced today with initial funding led by Space Capital.
Formerly known as S15 Space Systems, SpeQtral is building space-based quantum communication systems rooted in advanced technologies developed at the world-renowned Centre for Quantum Technologies (CQT), a Research Centre of Excellence hosted by the National University of Singapore (NUS). This quantum technology offers unprecedented security from eavesdropping and will enable the next generation of secure communication networks. SpeQtral has licensed from NUS the IP and knowhow necessary to develop compact quantum light sources, and has also hired former CQT researchers to its team.
SpeQtral’s $1.9 million seed round was led by Space Capital, the venture fund of Space Angels, the world’s leading space investors. Space Angels also participated in the round, as did Shasta Ventures, Golden Gate Ventures and SGInnovate.
“It is a great honor to have Space Capital lead our investment round,” said Chune Yang Lum, co-founder and CEO of SpeQtral. “Their vision and support from Shasta, Golden Gate Ventures, and SGInnovate will be immensely valuable as we bring our quantum technology to the world.”
“SpeQtral is a fantastic addition to our portfolio,” said Chad Anderson, CEO of Space Angels and Managing Partner of Space Capital. “Their technology has the capability to transform space-based communications and we are excited to help them realize that potential.”
"I admire the SpeQtral team's vision in launching a business for space-based quantum communication. It is a pleasure to see colleagues take this step to build from decades of research towards a global commercial network," says Artur Ekert, Director of CQT and co-inventor of quantum cryptography.
"Quantum technology is an exciting frontier with limitless potential," said Steve Leonard, Founding CEO, SGInnovate. "The scientists behind the formation of SpeQtral have done years of research in quantum communication, and are now turning that research into a commercial technology. We are thrilled to come in at an early part of their journey.”
The round, which was oversubscribed, will give SpeQtral the capital necessary to kick off a commercially-focused space-to-ground cubesat quantum communication demonstration mission, expand the team and open offices in Singapore and the United States, and develop further advances in quantum communication technology.
SpeQtral is developing space-based, quantum communication built on technologies developed at the Centre for Quantum Technologies (CQT) at the National University of Singapore. The team has developed technologies that harness the unique properties of quantum physics to enable encryption methods that can secure communications with forward security. SpeQtral is the only team with heritage from a successful on-orbit demonstration of a quantum light source on a cubesat, and is committed to bringing future-proof security to the commercial world. Learn more at www.speqtral.space.
About Space Capital
Space Capital is a $25 million seed-stage venture capital fund led by the world’s leading space investor and operator. We invest in the final frontier of technology and growth and partner with pioneering founders to solve the hardest problems on Earth and beyond.
About Centre for Quantum Technologies
The Centre for Quantum Technologies (CQT) is a national Research Centre of Excellence in Singapore. It brings together physicists, computer scientists and engineers to do basic research on quantum physics and to build devices based on quantum phenomena. Experts in this new discipline of quantum technologies are applying their discoveries in computing, communications and sensing. The Centre was established in December 2007 with support from Singapore’s National Research Foundation and Ministry of Education. CQT is hosted by the National University of Singapore and also has staff at Nanyang Technological University. Learn more at www.quantumlah.org.