Quantonation leads $5.5m round for cybersecurity startup evolutionQ

• evolutionQ delivers cybersecurity products designed to protect against quantum computers and offers quantum risk-management strategy and advisory services
• Quantonation was joined in the round by participants from both US and Canada, including Toronto-based The Group Ventures
• evolutionQ quantum computing experts Dr. Michele Mosca and Dr. Norbert Lütkenhaus

EvolutionQ, a company developing quantum-safe cybersecurity products, announced the completion of $5.5 million first funding found, led by Paris-based VC fund, Quantonation. Investors in the round included both US and Canada based participants, including The Group Ventures.

The Kitchener-Waterloo-based company aims to use capital raised to further product development, expand its service offerings and grow sales across Europe and North America. evolutionQ’s flagship product, BasejumpQDN, enables organizations building a network based on Quantum Key Distribution devices to deploy and manage quantum technologies throughout their network.

Alongside evolutionQ’s cybersecurity products, the firm offers services, namely risk assesments for clients wanting to safeguard their digital infrastructure.

Quantonation, the VC fund leading the round, is led out of Paris and Palo Alto by Christophe Jurczak, who holds a PhD in quantum physics. Launched in 2018 by French growth equity investor Audacia and Gravitation, the investment fund of entrepreneur Charles Beigbeder, Quantonation is dedicated to deep tech startups.