BOSTON--(BUSINESS WIRE)--Please replace the release dated October 10, 2023 with the following corrected version due to multiple revisions.
The updated release reads:
ALIRO QUANTUM COMPLETES FUNDING ROUND TO FUNDAMENTALLY ADVANCE ENTANGLEMENT-BASED SECURE NETWORKING
Accenture and Flybridge Leaders Fund Invest to Accelerate Research and Development, Expand Professional Services, and Increase Sales and Marketing
Aliro Quantum announced it has secured new funding from top-tier venture capital firms including Accenture Ventures and lead investor Flybridge Leaders Fund. The funding will allow Aliro Quantum to boost its ability to help utility companies, telecommunications providers, public sector organizations, enterprises, and researchers, among others, to design and deploy multipurpose entanglement-based secure networks. With this investment, Aliro Quantum will increase funding in research and development as well as expand its go-to-market programs and professional services offerings.
Since the company’s founding and initial round of funding in 2019 to develop the foundational technologies needed for quantum networks, Aliro Quantum has filed ten patents that include 124 claims. It has expanded its leadership, engineering, sales, and marketing teams, tripled its customer engagements, doubled its number of partnerships and increased its sales pipeline by ten times. Aliro also launched AliroNet™, a comprehensive non-QKD multipurpose entanglement-based secure network solution, and is providing the quantum network configuration, control and orchestration for the EPB Quantum Network powered by Qubitekk, America’s first industry-led, commercially available quantum network.
“The speed and security of quantum networking means that its impact on everything from telecommunications to cybersecurity to research will be more transformative and impactful than anything we can dream of today,” said Tom Lounibos, managing director, Accenture Ventures. “We will continue to support Aliro as the company moves towards its mission to build the world's first scalable quantum networks.”
Jim Ricotta, CEO of Aliro Quantum said, “Investments by Accenture and Flybridge Leaders Fund provide true validation that entanglement-based multi-purpose quantum networks are the way to go. We're excited to put these new partnerships to work to grow our customer base, fine tune our products and develop even more use cases for entanglement-based quantum networking.”
Dr. Narang, Founder and CTO with Aliro Quantum, said, "I am deeply grateful for the confidence and trust placed in our team by industry leaders such as Accenture and Flybridge Leaders Fund. This additional funding reinforces the significance that quantum networking has in shaping the future of secure communications and validates our approach to designing and building scalable and commercial entanglement-based quantum networks. We are excited to use this capital infusion to propel our business growth, nurture strategic partnerships, and drive innovation in quantum information science."
Aliro Quantum also received several prestigious industry awards including 2022 Technology Pioneer by the World Economic Forum, gold in the 2023 Govies Government Security Awards for Network Security, and three gold-level awards at the 18th Annual 2023 Globee Awards for Information Technology. The company was also recognized with the Hot Company Award from Cyber Defense Magazine’s 2023 Global InfoSec Awards, and Aliro Co-Founder and CTO, Dr. Prineha Narang, was named Science Envoy for Quantum Information Science and Technology by the U.S. Secretary of State, one of seven distinguished scientists to serve for 2023.
Aliro Quantum, The Quantum Networking Company™, offers AliroNet™ to emulate, pilot, and deploy entanglement-based quantum networks that are capable of running a wide variety of applications from secure communications to clustered quantum computing and distributed quantum sensing. Aliro, spun out of NarangLab at Harvard University, includes world-class experts in quantum and classical networking and is leading the charge in quantum network development by offering the foundational technologies needed for organizations around the world to build scalable and powerful distributed quantum systems. AliroNet™ users include utility companies, telecommunications providers, public sector organizations, enterprises, and researchers who are simulating, designing, piloting, orchestrating, and building the world's first entanglement-based quantum networks. Visit us at www.aliroquantum.com.