Crypto Quantique Selected for European Innovation Council (EIC) Grant Funding

London, UK – July 11, 2023 – Crypto Quantique, a leading provider of quantum-based security solutions for the Internet of Things (IoT), today announced that it has been selected to receive European Innovation Council (EIC) funding via a growth grant for its submission on Quantum secure cryptography to secure IoT devices in deep submicron nodes. The funding will be used to support the company’s development of a new generation of quantum-secured IoT devices.

EIC funding is highly competitive, with multiple rounds of submissions and interviews, and Crypto Quantique was part of 51 companies across the European ecosystem to be selected in the latest round of funding in 2023. The company was chosen for its innovative technology and its potential to have a significant impact on the global cybersecurity market.

“We are delighted to have been selected for EIC funding,” said Shahram Mossayebi, CEO and co-founder of Crypto Quantique. “This funding will allow us to accelerate the development of our QDID IoT solution and bring the IP to the mass market. We believe that our technology has the potential to revolutionise the way that IoT devices are secured, and we are excited to have the opportunity to make a real difference in the way that IoT devices are built.”

The EIC funding will be used to support Crypto Quantique’s research and development activities around QDID, as well as its commercialisation efforts. The company plans to use the funding to hire new staff, expand its product development capabilities, and launch new marketing initiatives.

“We are confident that this funding will help us to achieve our mission of making quantum-secured IoT a reality,” said Mossayebi. “We are grateful to the EIC for their support, and we look forward to working with them to make a positive impact on the global cybersecurity market.”

About Crypto Quantique
Crypto Quantique is a leading provider of quantum-driven cybersecurity solutions. The company’s technology uses the latest advances in quantum physics to create new levels of security for IoT devices and networks. Crypto Quantique is headquartered in London, UK, and has offices in the US, Europe, and Taiwan.

About European Innovation Council
The European Innovation Council (EIC) is a €10 billion fund that supports breakthrough technologies with the potential to change the world. The EIC provides funding in the form of grants and equity investments, and it also offers a range of support services to help companies succeed. Learn more about the European Innovation Council (EIC).

The EIC Accelerator offers start-ups and SMEs grants of up to €2.5 million combined with equity investments through the EIC Fund ranging from €0.5 to €15 million or more. In addition to financial support, all projects benefit from a range of Business Acceleration Services that provide access to leading expertise, corporates, investors and ecosystem actors. Learn more about the EIC Accelerator.

Media Contact
Ben Walshe, Head of Marketing, Crypto Quantique
pr@cryptoquantique.com