Quantum Networking Platform Secures $10 Million Series A Extension in Funding
Qunnect Closes Oversubscribed Series A Round, Paving the Way for Quantum Network Utility
Qunnect, a pioneering company in quantum networking, has announced the successful closure of an oversubscribed Series A extended financing round of $10 million. The round was led by Airbus Ventures, with additional participation from Cisco Investments and Quantonation.
With this funding, Qunnect is poised to revolutionise the industry with its commercially available hardware, designed to operate at room temperature, enabling widespread adoption by industry. This breakthrough technology offers a solution to a truly secure and exponentially more powerful network of computing power than is currently leveraged.
Qunnect's strategic partners for developing variants of the Carina product line include IBM Quantum and NTT Research. These collaborations aim to enable demonstrations of next-generation realistic use cases of quantum networks.
Noel Goddard, CEO of Qunnect, stated, "Cisco is advancing quantum technologies for the future quantum internet and data centers." Cisco joined the list of Qunnect investors this round through their corporate venture capital arm, Cisco Investments. Aleem Rizvon, vice president of Cisco Investments, expressed excitement about Qunnect's successful delivery of quantum communication foundations.
Qunnect's Carina product suite creates, buffers, and preserves high-quality entangled photons, the basis for quantum communications, at unprecedented rates. After proving quantum network capabilities in New York and Berlin, Qunnect, with partners like Cisco, is pushing the industry towards the era of quantum network utility.
Nicole Conner, Airbus Ventures Partner, mentioned a mission to invent and develop hardware for the future quantum internet. Qunnect's solutions were deployed in two, first-of-their-kind, quantum testbed networks—one in New York City and another in Berlin in partnership with Deutsche Telekom's T-Labs.
The advantages of utilising quantum physics as the foundation for the future network include high levels of security, higher processing power, and enhanced sensing capabilities. Qunnect's products, including the Carina product suite, support real-world deployment of scalable data networks based on quantum physics.
Mehdi Namazi, Chief Scientist and co-founder of Qunnect, expressed that with this funding, Qunnect is moving closer to its goal of making quantum networks a reality for everyday use. The company's strategic industry partnerships and technological advancements are paving the way for the future quantum internet.
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